• Senegal plans diaspora-focused real estate investment fund
• Remittances total 2.2 trillion CFA francs annually
• Fund aims to channel savings into rental housing

Senegal plans to establish a real estate investment fund targeting its citizens living abroad. The project, titled the Diaspora Senegal Real Estate Investment Fund (FCPI-DS), was presented at a cabinet meeting on Wednesday, Feb. 25.

The initiative aims to channel part of the annual remittances sent by Senegalese expatriates into rental property investments. According to a cabinet statement, remittances from the diaspora account for nearly 10% of GDP, totaling 2.2 trillion CFA francs per year, and are largely used for consumption.

Under the proposal, members of the diaspora would be able to acquire shares in a professionally managed real estate portfolio without increasing public debt. By directing savings toward rental housing, the government seeks to support residential construction and generate regular income for investors. The real estate sector is a driver of activity in construction, financial services and urban employment.

Part of a broader diaspora strategy

The FCPI-DS forms part of a broader policy to engage the diaspora. On Dec. 17, 2025, Senegal established its first national day dedicated to citizens living abroad, recognizing their economic and social contribution.

During the event, President Bassirou Diomaye Faye called on the government to strengthen its partnership with the diaspora, particularly by tapping its expertise and diversifying funding sources. A support and promotion program for Senegalese abroad was launched to improve assistance mechanisms and better reflect their priorities in public policy.

The FCPI-DS could serve as a domestic financing tool complementing borrowing on regional markets. It would channel existing savings into structured investment projects while strengthening financial ties between the state and its diaspora. The fund’s success will depend on its governance, operational transparency and its ability to deliver returns that meet investor expectations.

Chamberline Moko