Senegal’s Fonsis is ready to build on its development fund origins

Fonsis is an interesting sovereign wealth fund, operating a fund-of-funds model to help the country’s SME development while generating an industry around the management of private capital.

An interview with Papa Demba Diallo

Senegal’s sovereign wealth fund (SWF) is poised to build from its development fund mandate to allow greater international participation. The move is dependent on the passage of a law that should grant it a slice of the west African country’s expected oil and gas revenues.

In an interview with Euromoney, Papa Demba Diallo, CEO of Fonds Souverain d’Investissements Stratégiques (Fonsis), explains that under the proposed law, proceeds from the oil and gas industry in Senegal will go into three baskets.

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