Senegal: Launch of the first impact fund dedicated to SMEs

Mar 18, 2016

This is the third African fund sponsored by Investors & Partners (I&P).

Small and medium-sized enterprises (SMEs) with high growth potential in Senegal will soon benefit from financial support through a dedicated impact fund.

Teranga Capital, the third African fund sponsored by Investors & Partners (I&P), was officially launched on March 15, 2016 in Dakar.

"We bring an innovative financing solution specifically designed to meeting the needs of SMEs, along with advice and strategic support," said the chief executive of Teranga Capital, Olivier Furdelle, in a statement.

The fund will target SMEs whose funding needs range between 50 and 200 million CFA francs (€75 000 and €300 000).

It will strengthen the
company's equity and will become a minority shareholder over a period of about five years, while providing active and personalised support according to the specific needs of each company in the portfolio.

"With Teranga, I&P provides a smaller and complementary investment range, which corresponds perfectly to the needs of small businesses. This innovative and decentralised model aims to support the development of a dynamic fabric of sustainable local SMEs and promote the business mindset in sub-Saharan Africa," said Jean-Michel Severino, chief executive of I&P.ADNFCR-2976-ID-801814822-ADNFCR