The Senegalese Sovereign fund of Strategic Investments (FONSIS) should very soon finalize the closing of a fund specially directed to the financing of SME, as said by the managing director of this structure, Tinder Hott, during an interview on the channel of CNBC Africa, outside the World Economic Forum on Africa.
“We are finalizing the first fund allocated to Small and medium-sized enterprises with some international and local partners that focus on the sector and it will be the very first of this kind in Senegal“, Tinder Hott (photo) basically specified. The latter also revealed that outside this specific objective, the FONSIS is at work to implement other projects.
“We are at the same time working on strategic investments, mainly in the sector of solar energy, agriculture, medicine production, infrastructures and real estate. Some of these deals have already mobilized shareholders; we are today prospecting for loan agreements and we hope to conclude by the end of the month for some and by the end of September for others“, explained Tinder Hott.
The FONSIS was created a little more than two years ago by the Senegalese president Macky Sall, to serve as development and financing instrument with for mission to manage, make assets and participations from the government yield profits, and play a key in the mobilization of resources within the framework of partnerships with private investors for strategic and structuring projects.
Original text by: Agence Ecofin