State owned FONSIS partners KfW to launch US$35m Oyass Capital for SMEs

SENEGAL – Fonds Souverain d’Investissements Stratégiques S.A. (FONSIS) the Senegalese Sovereign Wealth Fund has launched Oyass Capital in partnership with KfW, the German Development Bank. Oyass capital is an investment fund which, through its own and risky financing, intends to provide technical assistance to local SMEs. The Fund is initially capitalised with EUR30 million (US$35.18m) investment from FONSIS and is anticipated to be co-financed by the World Bank, subject to due diligence and further evolution of the Fund’s strategy and capital structure. Oyass will be a single country closed-end fund…

Read More

FONSIS, Meridiam and ENGIE to commission two 60 MW photovoltaic power plants

SENEGAL – Sovereign Strategic Investment Fund (FONSIS), Meridiam and ENGIE have announced the commissioning of two photovoltaic power plants in Senegal with a total production capacity of 60 MW. Kahone Solaire SA (35MW) and Kaél Solaire SA (25MW) are located respectively in the regions of Kaolack and Diourbel, in the centre of the country. These plants are part of the Scaling Solar initiative in Senegal, jointly led by the Senegalese authorities and the International Finance Corporation (IFC), which aims to promote investment in solar energy. These are the first electricity…

Read More