• Senegal, BOAD launch Fovas to monetize public infrastructure assets
  
• Fund aims to boost financing without IMF-recommended debt restructuring
  
• Eligible assets include roads, ports, airports; BOAD to attract investors
  

Senegal’s government and the West African Development Bank (BOAD) announced on Monday, November 24, 2025, the launch of the Senegal Asset Valuation Fund (Fovas), a vehicle designed to bring key public infrastructure under one structure. The aim is to raise additional financing for the state by leveraging public assets.

Fovas is being introduced as Senegal seeks to bolster its financing strategy without undertaking the debt restructuring recommended by the IMF. Instead, the government wants to diversify its domestic revenue sources and make better use of existing funds.

The fund works by turning existing infrastructure into revenue-generating assets. Eligible assets include roads, ports, airports, public buildings, and logistics facilities. The fund will structure its commercial operation to generate income, which will then be used to finance new projects and support economic growth.

BOAD will provide expertise in financial structuring and act as an intermediary to attract private investors and international partners to back the fund.

The launch comes as Senegal introduces several fiscal measures to boost revenue, including taxes on gambling, tobacco, alcoholic beverages, money transfer,s and cash transactions.

According to IMF estimates, total public debt, including that of state-owned enterprises, reached 132% of GDP at the end of 2024, with around 4% in domestic arrears.

Chamberline Moko