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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Welcome, Senegal, to the SWF club

Posted on 24 April 2013

Senegal has a new sovereign wealth fund. Who knew? Not me. I only learned of the new SWF yesterday when someone asked me, “How’s Senegal’s new SWF coming along?” To which I replied: [shoulder shrug]. As it turns out, however, Senegalese MPs voted to create a new “Strategic Investment Fund” (FONSIS) back in December, and the government of Senegal now lists the new SWF as one of its Grands Projets.
So, this is clearly legit. And that means I need to do some homework! Upon further scrutiny, the FONSIS looks and feel more like a ’sovereign development fund” than a traditional sovereign wealth fund, as the motivation for launching this vehicle is to unlock foreign direct investment to revitalize the Senegalese economy……………………………………….Full Article: Source


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