Euromoney, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
CAPITAL MARKETS

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.

Papa_Demba_Diallo-Fonsis-960.jpg
Papa Demba Diallo, CEO of Fonsis

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. One is the national budget; another is the stabilization fund, which is what exists today; and the third is a new generation fund, which invests in a diversified range of assets for the future.

Diallo