Finance

Senegal joins Africa’s Top5 private equity financing destinations in Q3-2022

Monday, 28 November 2022 14:14
Senegal joins Africa’s Top5 private equity financing destinations in Q3-2022

(Ecofin Agency) - The country made it to Africa’s top 5 countries that secured the most private equity financing because of a declining volume of overall private equity raised in Africa and a successful raise by Wave Mobile.

With about US$97 million raised in Q3-2022, Senegal was the third country with the highest private equity funding in Africa. According to a Techcabal report,  Senegal attracted more private equity funding than Kenya and South Africa but, it came behind Egypt (US$114.2 million) and Nigeria (US$221.25 million).

The performance was supported by the US$91.8 million loan provided by the International Finance Corporation (IFC) and other investors to fintech Wave Mobile in July 2022. The second largest deal targeting a Senegalese company was the US$5 million Baobab+ secured from Symbiotics.

Despite this positive performance, Senegal remains a medium target for private equity financing in Africa.  According to transaction logs compiled by Ecofin Agency, the country has received nearly US$342 million in private equity financing since 2019, including the US$291 million secured by Wave Mobile.  

Let’s note that overall, African private equity financing is going through a somewhat lean period this year. At the end of Q3-2022, the continent had raised US$3.6 billion through various mechanisms, down by 53% year-on-year according to the Techcabal report.



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.