The Women Economic Empowerment Fund (WE! Fund), a subsidiary of the Sovereign Strategic Investment Fund (FONSIS), has reached a new milestone in structuring and financing the national industrial sector. The fund has formalized the signing of two major investment agreements totaling 1 billion FCFA and the creation of nearly 200 direct jobs, targeting the companies Mayawa Agro-Industrie in Touba and Amar Bio Solutions in Sandiara (Thiès).

Territorial anchoring: Modernization in Touba and green chemistry in Sandiara

In Touba, Mayawa Agro-Industrie, which produces and distributes Aïnou mineral water, will use WE! Fund financing to "acquire a new automated bottling line, designed to increase the company's production capacity." This industrial redeployment will generate "160 direct jobs, with a female representation rate exceeding 50%." Beyond the industrial aspect, the project has a significant environmental and community impact: "The company also plans to develop a reservoir allowing surrounding villages to reuse some of the water pumped from the spring for market gardening, livestock farming, and fish farming."

In Sandiara, in the Thiès region, the investment made in Amar Bio Solutions will support the establishment of an industrial unit for manufacturing hygiene products. This support will contribute to "the installation of automated production lines with a capacity of 5,000 liters per day," intended for the manufacture of "disinfectant gels, liquid soaps, dishwashing liquids, multi-purpose detergents, bleach, and surface cleaners made from natural products." The project will create "nearly 40 direct jobs" through an approach "combining local production, green industrialization, and a circular economy."

Key statements at the heart of the Senegal 2050 Vision

For the leaders of the organizations involved, this partnership seals a shared vision of endogenous development:

“WE! Fund’s investment marks a key milestone in the development of Amar Bio Solutions. It will allow us to accelerate the production and marketing of innovative hygiene solutions based on plant-based active ingredients, while strengthening our innovation capabilities and our presence in West African markets,” said Amina Lome Amar , CEO of Amar Bio Solutions.

“Our intervention allows two Senegalese companies to reach a new industrial milestone. Our role is to provide them with the necessary resources to increase their production capacities, structure their growth and create more value and jobs in Senegal,” stressed Seynabou Ndiaye , President of F-Gestion and Director of WE! Fund.

“FONSIS supports the ambition of Vision Senegal 2050 to create the conditions for the development of territorial economic hubs. These two investments in innovative SMEs, with strong growth potential and based outside Dakar, demonstrate this dynamic now underway in Senegal,” stated Babacar Gning , Director General of FONSIS.

An impact fund with a consolidated balance sheet

Created in November 2019 by FONSIS in partnership with UNCDF (the United Nations agency dedicated to development finance), the WE! Fund targets "businesses and projects with strong economic potential whose activities generate a positive impact for women, in particular through the creation of economic opportunities, the development of inclusive value chains, the improvement of access to essential goods and services and the strengthening of their participation in the national economy."

Since its creation, the WE! Fund has invested a total of 5.26 billion FCFA in 15 Senegalese SMEs, confirming its role as a lever for the emergence of regional industrial champions.