FONSIS, the Senegalese Sovereign Wealth Fund and KfW, the German Development Bank have launched Oyass Capital, an investment fund dedicated to investments in SMEs in Senegal.

The Fund is initially capitalised with €30m 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 with a final target size of €75m-€100m providing mezzanine and equity financing to SMEs in Senegal alongside technical assistance. 

FONSIS and KfW are seeking a Fund Manager to finalise the design, fundraising and management of Oyass and its technical assistance facility.

The Fund Manager will be selected through a tender procedure.

FONSIS and KfW welcome all interested parties to apply to the prequalification selection.