(Ecofin Agency) - Cogelec Energy, a firm specialized in the provision of power services in Senegal secured a FCFA185 million ($336,700) funding from Teranga Capital. 

“Since our establishment in 2014, we are eager to put our expertise at the disposal of populations to improve access to productive energy. This funding will help us improve the quality of our services to better support our clients,” said Cogelec Energy’s president, Abdou Wahab Kane.

The financing will indeed enable the firm boost both its human and technical capitals and subsequently to increase its market share. Besides, Teranga will support the firm in improving its strategy and organization.

“We strongly believe in Cogelec’s potential and its ability to create positive socio-economic impacts for the beneficiaries of its services. To this end, we will provide the firm support to facilitate its growth,” said Teranga Capital’s managing director, Olivier Furdelle.

Teranga Capital is Senegal’s largest investment fund dedicated to the development of SMEs with high potential. Its premiums vary from 50 million to 200 million CFA francs. 

Gwladys Johnson