Senegal: A new investment fund to support oil and gas projects

Senegalese brokerage firm Finance Gestion et Intermédiation (FGI), in collaboration with Baobab Asset Management, has announced the launch of the Fi Natangué investment fund, an initiative aimed at providing tailored financing solutions to companies operating in Senegal's oil and gas sector.

The aim of the fund is to support companies with high growth potential involved in the hydrocarbons value chain. By targeting these key players, Fi Natangué aims to foster the emergence of a robust and sustainable oil and gas industry in Senegal.

"With Fi Natangué, we want to offer endogenous, innovative and flexible financing solutions to local companies in the hydrocarbon sector, to help them fully seize the opportunities offered by the development of this strategic industry," said Astou Diop Sène, Managing Director of FGI.

The launch of this fund comes at a time when Senegal's oil and gas sector is gaining momentum. In July this year, the country began oil production from the offshore Sangomar field, marking a crucial step in its energy development. In addition, Senegal plans to start producing gas from the conventional Greater Tortue Ahmeyim (GTA) field in early 2025, further strengthening the sector's growth prospects.

This initiative by FGI and Baobab Asset Management comes at just the right time to support the development of local and regional companies in this field, by enabling them to benefit from financing tailored to their specific needs and growth ambitions. Fi Natangué thus represents a unique opportunity to strengthen the competitiveness and resilience of national economic players, while contributing to the sustainable development of Senegal's oil and gas industry.

This new fund is positioned as a key lever for promoting local content in the hydrocarbons sector, by supporting the active participation of Senegalese companies in this industry, which is strategic for the country's economic future.