Financing your project — banks, funds and markets

The banking centre

Dakar is WAEMU's largest banking centre by number of institutions: 29 licensed banks (33 credit institutions counting finance houses), holding close to a fifth of the zone's banking assets. Classic bank credit remains collateral-hungry — contract pledges, factoring and leasing are developing. The 297 licensed microfinance institutions irrigate the lower end of the market.

Public funds and private equity

FONSIS, the sovereign strategic investment fund, co-invests equity alongside private players (about USD 1.2 billion under management in mid-2025, four funds in operation). On the private equity side, Teranga Capital targets Senegalese SMEs with tickets of 50 to 200 million FCFA, while pan-African funds active in Dakar such as Janngo Capital back tech at seed and growth stage. The BRVM, the common exchange of the eight WAEMU countries, offers mature companies a listing venue and a deep regional bond market.

Guidance that avoids disappointment

The DER/FJ — often cited out of context — is the rapid entrepreneurship delegation for women and youth: its financing (100,000 to 1.5 million FCFA directly, more in structured form) targets micro-businesses, cooperatives and local entrepreneurship. It is not a window for foreign investors or mid-sized projects — for those, turn to the banks, the funds and FONSIS. Knock on the right door first time: that is project time saved.