Growth Facility for SMEs

active

The aim of the project is to promote the growth of formal Senegalese SMEs in employment-relevant sectors through the PME (Oyass Capital) fund, a Senegalese impact investment fund. Oyass Capital offers SMEs growth capital in the form of (equity-like loans). KfW has pledged EUR 25 million for this purpose as part of financial cooperation and provided EUR 14 million for this purpose at the end of 2021. The Senegalese government's contribution amounts to EUR 5 million. The loans and interest income flowing back to Oyass Capital will be used for new investments in SMEs. Private and public investors can participate in Oyass Capital. In order to increase their willingness to invest, the funds from the FC measure will be used as venture capital. The project is particularly innovative because it creates better availability of growth capital for SMEs in Senegal. This can improve access to financing and reduce poverty in the country. Since Oyass Capital has not yet made any investments, no effects have yet been seen on the SMEs.