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Wealth Fund Seeks to Invest Some of Senegal Oil Windfall Abroad
DAKAR (Capital Markets in Africa) – Senegal’s sovereign wealth fund is considering investing in neighboring countries after it starts receiving part of the oil and gas revenues from new fields in the nation. The $25 billion economy, set to start production next year, will allocate a minimum of 10% of the sector’s revenues to the fund, Babacar Gning, chief investment officer at the state-owned Sovereign Fund for Strategic Investments or Fonsis, said in an interview.“The law…
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