FONSIS and KfW look for manager for new SME fund

Image Credit : BFA Global

Senegal’s sovereign wealth fund FONSIS and German development bank KfW have published a tender for the management of a new, single-country SME investment fund being launched by both institutions. The successful bidder will be responsible for finalizing the design of the fund, as well as raising and investing capital its capital and managing the operational aspects of the fund’s activities.

Oyass Capital, as the fund is called, will be capitalized initially with €30 million (or about $35 million) by FONSIS, and is expected to be co-financed by the World Bank, following the organization’s completion of fund due diligence and further development of the fund’s strategy and capital structure. The closed-end fund’s final goal is as much as €100 million.

To read this article, you must be a paid subscription member. (Current members login here)


Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at] today.