• Posted on: 21 November 2014
  • By: Fonsis

The 2014 edition of the New York African Forum was held in May 23 - 25 in Libreville, Gabon under the theme: "The transformation of a continent".

This international economic summit brought together nearly 1500 participants including a dozen heads of States and governments. Senegal was represented at the Forum by the Minister Counsellor, Youssou Ndour and the CEO of the Sovereign Fund for Strategic Investments (FONSIS), Amadou Hott.

Senegal’s contribution was highly anticipated especially in the areas of agriculture and culture. Our country especially sparkled during the panel on sovereign wealth funds.

The CEO of FONSIS, Amadou Hott, recalled the three (3) roles of his company.  "In Senegal, FONSIS acts as project developer, restructures distressed companies especially public one and also co-invests", explained Mr. Hott, who does not fail to mention the particularity of FONSIS which exists in a legal framework that allows it to be efficient.

In fact, the CEO recalled that the Sovereign Fund for Strategic Investments of Senegal was created by a law that was passed by the Senegalese Parliament.

The recruitment, standard management and performance criteria are included in the law, said Mr. Hott who explained that FONSIS adheres to the Santiago Principles which govern the best sovereign wealth funds under the guidance of the International Monetary Fund.

To the Ambassador of Senegal in Gabon, Senegal had much to share at the. Mrs. Sawdatou Ndiaye Seck said that Senegalese participation sparked much interest. She mentioned the example of the Sovereign Fund for Strategic Investments. As the Minister Youssou Ndour, he deciphered the issues and the need for the transformation of Africa in the most promising sectors, including culture, media and research.

English