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…

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