Senegal’s Sovereign Fund for Strategic Investments (FONSIS) has announced the deployment of four private equity funds and the signing of twelve investment agreements with small and medium-sized enterprises as part of efforts to accelerate national economic transformation under the Senegal 2050 Vision.
Speaking in Dakar during a meeting with economic journalists, FONSIS Managing Director Babacar Gningue said the fund is intensifying the mobilization of private capital to strengthen economic sovereignty.
The four investment funds, dedicated exclusively to Senegalese companies, are valued at 85 billion CFA francs and are expected to double in size within five years, with all projects implemented in partnership with the private sector and without full reliance on public debt.
According to FONSIS, the investment portfolio is expected to generate between 5,000 and 10,000 direct jobs while delivering major outcomes across key sectors, including expanded access to drinking water, irrigation, housing, healthcare, agriculture, and fisheries.
Achievements targeted include improved water access for millions of Senegalese, thousands of hectares of irrigated land, affordable homeownership through rent-to-own schemes, expanded hospital capacity, increased farmed fish production, and progress toward maize self-sufficiency. The twelve agreements signed involve financing worth 2.1 billion CFA francs across health, construction, agri-food, and textile industries, alongside strategic initiatives such as a national gold trading post.
FONSIS is also engaging the government on tax and regulatory reforms to make Senegal more attractive to private investors and sustain long-term economic growth.
