Private Equity in Senegal Gets Jump-Start With State-Backed Fund

Wednesday, August 21, 2019

By Alonso Soto

Senegal is jumping on the private-equity bandwagon by starting a 100 million-euro ($111 million) fund, the first time an African government has backed an investment pool of this nature and size.

“This is something we don’t see very often; a government raising a private-equity fund,” said Vasiliki Ntina, a research analyst with London-based African Private Equity Capital and Venture Capital Association. “Africa is full of opportunities, and the challenge is to continuously promote awareness.”

The West African nation is struggling to gain the attention of investors among its peers in the region, with the bulk of private-equity in 2018, with the bulk of deals in 2018 going to Nigeria, Ghana and Ivory Coast, according to data compiled by the association.

Photo courtesy of jbdodane.

Source: Bloomberg (link opens in a new window)