FONGIP

What FONGIP does

FONGIP (Fonds de Garantie des Investissements Prioritaires) is a state-owned public guarantee fund established in Senegal by government decree n°2013-691 of May 17, 2013, operating under the supervision of the Ministry of Economy, Planning and Cooperation. It exists to address structural credit-access gaps faced by micro, small, and medium enterprises (MPME) by absorbing a portion of lender risk and by refinancing/bonifying the cost of credit extended through partner banks and decentralized financial systems (SFD). The institution serves a broadly diversified beneficiary base of approximately 71,950 cumulative beneficiaries across formal SMEs, women and youth economic interest groups (GIE), diaspora Senegalese, persons with disabilities, Islamic-finance clients, and priority PSE-aligned sectors (agriculture, crafts, tourism, biogas, housing). Geographically, FONGIP operates through a Dakar headquarters, six regional branches (Kaolack, Saint-Louis, Tambacounda, Thiès, Touba, Ziguinchor), a digital applicant portal, and event-driven regional outreach (CRD meetings, municipality conventions).

Name

FONGIP

Legal name

Fonds de Garantie des Investissements Prioritaires

Website

https://fongip.sn

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

FONGIP is a Senegalese public guarantee fund established in 2013 that provides credit guarantees, refinancing lines, and dedicated sub-funds to facilitate bank financing for micro, small, and medium enterprises, women and youth groups, and priority sectors.

Ownership category

akta.pro rank

Product category

Credit Guarantee Fund / SME Finance Risk-Sharing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

National/Regional Development Finance Institutions (DFIs) (FSABAKAB)

Keywords

• SME credit guarantees
• Public guarantee fund
• Decentralized financial systems
• Risk-sharing mechanisms
• Credit refinancing

Headquarters

HQ city

Dakar

HQ country

Senegal

HQ region

Africa

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Guarantee Commission Fees: FONGIP earns commission fees on guaranteed outstanding amounts. For Individual Guarantees, commission is 1-2% HT per year on the guaranteed portfolio. For Portfolio Guarantees, commission is 1-2% HT per year on the guaranteed portfolio. For PNB program credits, commission is 1.5% TTC. These fees are charged to financial institution partners for the risk coverage FONGIP provides on their lending portfolios.
2. Refinancing / Bonification: FONGIP provides refinancing lines to Decentralized Financial Systems (SFD) at preferential rates (2% refinancing rate), enabling SFDs to on-lend to FONGIP target beneficiaries at capped rates of 8% maximum HT/year. This bonification model reduces the cost of credit for final borrowers while FONGIP earns spreads.
3. Fund Management for Third Parties: FONGIP manages dedicated funds (sous-fonds dédiés) and revolving funds for account of development partners (e.g., PETROSEN 5B FCFA revolving fund, PNUD electric taxi project). This generates management fees or operational mandates from bailleurs de fonds and public institutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

FONGIP is a public credit guarantee fund that provides risk-sharing coverage (individual and portfolio guarantees up to 80% of credit) to partner banks and decentralized financial systems (SFDs) lending to Micro, Small and Medium Enterprises (MPME), women GIE, youth, diaspora, and vulnerable populations in Senegal. It complements guarantees with refinancing/bonification lines to SFDs at 2% (enabling 8% max exit rates), free project accompaniment, and dedicated sub-funds for housing, agriculture, crafts, tourism, Islamic finance, persons with disabilities, diaspora, and territorial communities.

Product overview

FONGIP operates as a guarantee fund for priority investments in Senegal, offering a multi-product financial ecosystem. The core offerings include three main products: Garantie Individuelle (individual guarantees up to 500M FCFA for TPE/PME/GE), Garantie Portefeuille (portfolio guarantees for micro-enterprises up to 20M FCFA), and Refinancement Bonification (refinancing lines for SFD at 2% to enable 8% max exit rates). These are complemented by support services (Accompagnement for free technical support and Gestion de fonds for third-party fund administration), eight specialized sub-funds targeting specific segments (FOGARISE for diaspora, FOGALOG for housing, FONDS-PVH for disabled persons, FOGAVILLE for territorial communities, FOGART for crafts, CHT for tourism, FONDS AGRICOLE for agriculture, FONDS ISLAMIQUE for Islamic finance), and three financing programs (ETER with World Bank, PAAICE with BAD, and PNB for biogas). The integrated portfolio enables comprehensive SME financing support across sectors and beneficiary types.

Differentiator

Problem solved

Functional benefit

Brands

• ETER: Projet Emploi, Transformation Economique et Relance - World Bank funded program with 25 billion FCFA envelope for MPME guarantees over 4 years
• PAAICE
• PNB
• Garantie Individuelle
• Garantie Portefeuille
• Refinancement Bonification

Products and services

• Garantie Individuelle Individual guarantee product covering up to 80% of credit risk for TPE, PME, and large enterprises seeking investment or operating credit from partner banks. Maximum amount per enterprise is 500 million FCFA, with up to 60-month maturity and commission of 1-2% HT per year on guaranteed outstanding charged to the partner bank.
• Garantie Portefeuille Portfolio guarantee product for micro-enterprises (TPE) seeking financing up to 20-25 million FCFA. Provides up to 50% guarantee quotity per credit and 30% default ceiling on the portfolio, with interest rate capped at less than 10% HT per year for end borrowers. Commission of 1-2% HT per year on guaranteed outstanding is charged to the partner financial institution.
• Refinancement Bonification Refinancing line product that provides Decentralized Financial Systems (SFDs) with credit at a 2% preferential refinancing rate, enabling them to on-lend to FONGIP target beneficiaries at capped rates of 8% HT/year maximum. Loan maturity up to 60 months, with deferred payment up to 6 months and quarterly or semi-annual repayment schedules.
• Accompagnement Free technical accompaniment service for project promoters, SFDs, and partner banks, including project structuring, bankable dossier preparation, and orientation to appropriate partner financial institutions. Delivered through FONGIP's project engineering team and regional branches.
• Gestion de fonds Third-party fund management service through dedicated sub-funds (sous-fonds dédiés) and revolving funds entrusted by development partners and public institutions, including the 5B FCFA PETROSEN revolving fund and UNDP-administered initiatives. Generates management fees and operational mandates from funders.
• FOGARISE Sub-Fund Dedicated sub-fund guaranteeing bank financing for Senegalese nationals residing abroad (diaspora) who wish to invest in domestic projects in Senegal.
• FOGALOG Sub-Fund Dedicated sub-fund providing guarantee coverage for social and economic housing credits for low-income and irregular-income individuals in Senegal.
• FONDS-PVH Sub-Fund Dedicated sub-fund providing guarantee coverage for bank financing for persons with disabilities, either individually or as organized groups, supporting mobility-inclusive access to credit.
• FOGAVILLE Sub-Fund Dedicated sub-fund facilitating access to financing for local project holders under convention with territorial collectivities (local government partners).
• FOGART Sub-Fund Dedicated sub-fund guaranteeing credits for SMEs, large enterprises, and GIE in the crafts (artisanat) sector for both investment and operating credit lines.
• CHT Sub-Fund Dedicated sub-fund guaranteeing credits for enterprises engaged in hotel and tourism activities in Senegal.
• FONDS AGRICOLE (FONAGRI) Sub-Fund Dedicated sub-fund guaranteeing credits for agricultural SMEs, agribusinesses, and farmer organizations to support agricultural production and value chain activities.
• FONDS ISLAMIQUE Sub-Fund Dedicated sub-fund facilitating access to credit for SMEs, PMIs, and large enterprises under the Islamic finance framework through Sharia-compliant guarantee mechanisms.
• ETER Program World Bank-financed program (Emplois, Transformation Économique et Relance) with a 25 billion FCFA envelope over 4 years for MPME guarantees across three windows: bank guarantee, SFD guarantee, and export credit guarantee. Minimum 30% of the envelope is reserved for women-led enterprises.
• PAAICE Program African Development Bank (BAD) financed program (Programme d'Appui à l'Accélération Industrielle, à la Compétitivité et à l'Emploi) providing two guarantee windows (bank and SFD) with 30% of the envelope reserved for women business leaders and entrepreneurs.
• PNB (Programme National Biogaz) Program Biogas / bio-digester guarantee program providing financing for rural energy and organic fertilizer projects. Credit duration 3-5 years, maximum guarantee of 500 million FCFA, deferred payment up to 6 months, max interest rate 8% HT (of which 2% supported by the Bonification Fund), personal contribution up to 10%, guarantee quotity up to 70%, commission 1.5% TTC.

Quantifiable outcome

• 71,950 beneficiaries served across Senegal since inception
• +7 more outcomes

Named customers13 records

Segments8 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

33 partnerships are on record, tiered core and strategic.

• CSAR (Commissariat à la Sécurité Alimentaire et à la Résilience)coreStrategic or Co-development Partner · 20 June 2026Convention to strengthen financing mechanisms for actors engaged in food security and agricultural value chain development. FONGIP provides guarantee mechanisms to facilitate bank access for food security actors; CSAR contributes to building resilience of vulnerable populations and producers. FONGIP represented by Secretary General Abdoulaye Diassé; CSAR by DG Marième Soda Ndiaye.
• Ministry of Microfinance and Social Solidarity Economy (Senegal)coreStrategic or Co-development Partner · 11 June 2026Signed a framework partnership agreement under the Pact for Universal Financial Inclusion. FONGIP commits a 1 billion FCFA guarantee line; the Ministry provides 3 billion FCFA in financing, generating a total intervention volume of 4 billion FCFA to facilitate access to financing for women, youth, cooperatives, mutuals, and MPME. Ceremony presided by Minister Alioune Dione.
• PETROSEN (Pétrole du Senegal) Holding SAcoreStrategic or Co-development Partner · 13 March 2026Signed convention to establish a 5 billion FCFA revolving fund managed by FONGIP for communities impacted by oil and gas projects, particularly in Fatick and Saint-Louis regions. Fund aims to facilitate financing access, stimulate local entrepreneurship, and strengthen economic resilience of impacted populations. DG Alioune Gueye of PETROSEN and AG Ndèye Fatou Mbodj Diattara signed.
• NSIA Banque SénégalcoreChannel Partner/ Reseller/ Distributor · 10 March 2026Renewed guarantee partnership with renewed convention to strengthen access to SME financing. Special attention to women entrepreneurs and youth project promoters. Partnership emphasizes territorialization of interventions across Senegal regions and uses portfolio guarantee mechanism to expand beneficiary reach.
• PNUD (UNDP Senegal)coreStrategic or Co-development Partner · 2 March 2026Historic protocol signed between FONGIP and PNUD to deploy electric taxis in Dakar. Project aims to improve urban mobility and reduce greenhouse gas emissions. FONGIP AG Ndèye Fatou Mbodj and PNUD Resident Representative Njoya Tikum signed the agreement. Aligned with green employment promotion and sustainable transport transition.
• BGFI Bank Sénégal (Groupe BGFI)coreChannel Partner/ Reseller/ Distributor · 11 February 2026Renewed commitment to pursue and strengthen collaboration with FONGIP. BGFI reaffirmed its commitment to actively support FONGIP's missions for SME/PMI financing access. New DG Aline MANE YONTA KENGNE led delegation visit to FONGIP. Exchanges aligned with Senegal 2050 national transformation agenda.
• Mairie de Kaolack (Kaolack Municipality)coreChannel Partner/ Reseller/ Distributor · 7 February 2026Joint financing of 500 million FCFA (400M from FONGIP, 100M from municipality) to 10 women GIE in Kaolack region. Partnership signed following a convention with territorial collectivities. Demonstrates FONGIP's approach to co-financing with local government for women entrepreneurship support.
• Chambre de Commerce Sénégalo-Canadienne (CCSC)strategicGTM or Marketing Partner · 18 January 2026Partnership signed between FONGIP AG Ndèye Fatou Mbodj Diattara and CCSC President Marianne Ndiaye to facilitate SME access to financing, promote investment, and boost economic exchanges between Senegal and Canada. Aims to support innovation, growth, and employment creation through cross-border economic facilitation.
• APIGA (Association Professionnelle des Institutions de Garantie d'Afrique)coreStrategic or Co-development PartnerFONGIP, led by AG Ndèye Fatou Mbodj Diattara (Vice-President of APIGA), hosted the 11th APIGA General Assembly in Dakar. Conference brought together African guarantee institution leaders to discuss financing for economic transformation. FONGIP cited as having mobilized over 61 billion FCFA in guarantees and contributed to 132,000+ jobs. APIGA serves as continental platform for guarantee institution cooperation.
• World Bank Group / IFC (Société Financière Internationale)coreStrategic or Co-development PartnerFONGIP responded to joint call from World Bank and IFC on 'Innovative Inclusive Finance Solutions for Women Entrepreneurs in Senegal and West Africa.' Collaboration aims to deploy innovative and flexible guarantee mechanisms targeting women-led TPE/PME. IFC Representative Nouma Dione visited FONGIP to explore cooperation for supporting high-potential Senegalese SMEs. A partnership convention between FONGIP and IFC is being finalized.
• PAMECAS (Pays Mali Senegal Microfinance)coreChannel Partner/ Reseller/ DistributorMicrofinance institution co-financing women GIE through FONGIP guarantee partnerships. Partnership example: 251 million FCFA in Thiès and 150 million FCFA in Kaolack to women GIE. PAMECAS serves as the credit originator with FONGIP providing guarantee coverage.
• La Ruche (Quebec, Canada)strategicStrategic or Co-development PartnerQuebec crowdfunding platform explored during FONGIP Canada mission for integrating innovative financing tools dedicated to mobilizing funding for Senegalese SME and PMI.
• Plateforme PME AfriquestrategicStrategic or Co-development PartnerLed by Pr Théophile Serge Nomo. Discussed collaboration to accompany Senegalese enterprises in coordination with financial and technical ecosystem actors, as part of FONGIP's international partnership development during Canada mission.
• Québec InternationalstrategicStrategic or Co-development PartnerQuebec international trade organization (represented by Director of External Markets Daniel Nguyen) met to examine synergies between Senegalese and Canadian enterprises, particularly in equipment and technical expertise domains.
• CDES (Centre de Développement des Entreprises et des Services)coreChannel Partner/ Reseller/ DistributorStrategic partnership convention signed with 1 billion FCFA guarantee allocation to support Senegalese enterprises. CDES serves as intermediary in directing financing to eligible beneficiaries.
• CNES (Confédération Nationale des Employeurs du Senegal)strategicStrategic or Co-development PartnerNew CNES President Abdel Kader Ndiaye visited FONGIP to explore a future partnership convention to strengthen support for Senegalese enterprises, particularly SME and PMI. Discussions focused on financing access, entrepreneurship promotion, and value/employment creation. CNES aims to reinforce public-private dialogue and economic sovereignty.
• Ministry of Economy, Planning and Cooperation (Senegal)coreStrategic or Co-development PartnerMinister Abdourahmane Sarr conducted a strategic working visit to FONGIP headquarters in December 2025. Reviewed FONGIP activities, achievements, and perspectives for strengthening its role in promoting priority investments in Senegal. Minister praised AG's work and encouraged continued support for economic growth.
• FAGACE (Fonds Africain de Garantie et de Coopération Economique)strategicStrategic or Co-development PartnerFAGACE DG Ngeto Tiraïna Yambaye made a courtesy visit to FONGIP. Both institutions exchanged on cooperation perspectives and projects to consolidate their strategic partnership for investment financing and economic development. Convergence on the need to strengthen collaboration in an atmosphere of trust, innovation, and complementarity for member states.
• CBAO (Groupe Attijariwafa bank)coreChannel Partner/ Reseller/ DistributorMajor banking group listed as financial partner on FONGIP's financial partners page. One of 12+ banks in FONGIP's partner network providing credit to MPME backed by FONGIP guarantees.
• BNDE (Banque Nationale pour l'Economie et le Developpement)coreChannel Partner/ Reseller/ DistributorNational development bank partner. FONGIP signed historic convention with BNDE and ANA for financing support. BNDE serves as key credit originator for MPME guarantee products.
• BOA (Bank of Africa)coreChannel Partner/ Reseller/ DistributorPan-African banking group listed as financial partner on FONGIP's partners page. BOA's regional network extends FONGIP's guarantee reach across multiple countries.
• FBNBankcoreChannel Partner/ Reseller/ DistributorBanking partner listed on FONGIP's financial partners page. Part of the network of 12+ partner banks extending MPME credit with FONGIP guarantee coverage.
• BIS (Banque Islamique du Senegal)coreChannel Partner/ Reseller/ DistributorIslamic banking partner for Sharia-compliant financing. Listed as financial partner supporting FONGIP's Islamic Fund (Fonds Islamique) guarantee products for PME, PMI and large enterprises.
• BSIC (Banque Sahelo-Saharienne pour le Commerce et l'Investissement)coreChannel Partner/ Reseller/ DistributorRegional development bank listed as financial partner on FONGIP's partners page, providing MPME financing through FONGIP guarantee mechanism.
• LBA (La Banque Agricole)coreChannel Partner/ Reseller/ DistributorSpecialized agricultural bank listed as financial partner. LBA provides agricultural and rural financing with FONGIP guarantee coverage, supporting FONAGRI and FONGIP's broader agricultural sector mandate.
• SGBS (Société Générale de Banques au Senegal)coreChannel Partner/ Reseller/ DistributorMajor banking group (Société Générale subsidiary) listed as financial partner on FONGIP's partners page. One of the key bank partners in FONGIP's guarantee distribution network.
• Coris Bank InternationalcoreChannel Partner/ Reseller/ DistributorBanking partner listed on FONGIP's financial partners page. Part of the partner bank network providing MPME credit with FONGIP guarantee backing.
• CMS (Compagnie Malienne Senegal)coreChannel Partner/ Reseller/ DistributorBanking partner listed on FONGIP's financial partners page. Contributes to the network of partner banks extending credit to MPME with FONGIP guarantees.
• Crédit KashcoreChannel Partner/ Reseller/ DistributorMicrofinance partner co-financing women GIE in Thiès (163 million FCFA) through FONGIP partnership. Provides small-scale credit to women entrepreneurs with FONGIP guarantee coverage.
• AFD (Agence Française de Développement) and CIRAD (at Paris Agriculture Fair)strategicStrategic or Co-development PartnerFONGIP participated in a panel on pastoral product valorization organized by AFD and CIRAD at the Paris International Agriculture Fair. Panel featured SME displaying transformed local products (hibiscus, fisheries products, shea butter, organic products) for international export.
• Plateforme Pétrole et Gaz de SangomarcoreStrategic or Co-development PartnerPartner in organizing information and awareness workshop for Toubacouta communities on the PETROSEN-FONGIP 5 billion FCFA revolving fund. Workshop held March 27, 2026 at Hôtel Keur Saloum de Toubacouta, with participation of sub-prefect, mayors, deputy, and local populations.
• ANA (Agence Nationale des Domaines et du Foncier)strategicStrategic or Co-development PartnerHistoric convention signed between FONGIP, BNDE and ANA. ANA contributes to land and property domain development, potentially linked to FONGIP's housing sub-fund (FOGALOG) and SICAP Sessene diaspora housing project.
• SICAP SA (Société Immobilière du Cap-Vert)strategicStrategic or Co-development PartnerTechnical working session held with SICAP DG Mouhamadou Moctar Magassouba on SICAP Sessene 185 billion FCFA diaspora housing project (6,265 villas over 217 hectares). FONGIP represented by AG Ndèye Fatou Mbodj Diattara to explore FONGIP's role in guarantee and financing support for diaspora housing access.

Scale indicators17 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• African Development Bank (AfDB) - PAAICE Program: Continental development bank that funds the PAAICE program channeled partly through FONGIP. AfDB operates as a larger-scale development finance institution with overlapping SME guarantee and credit intermediation mandates across Africa, making it a broad incumbent peer.
• PROPARCO (Agence Française de Développement subsidiary): French Development Agency's private sector arm providing guarantees, equity, and loans to African SMEs. PROPARCO is a broad incumbent peer operating at a larger scale with overlapping SME guarantee products across French-speaking Africa.
• African Finance Corporation (AFC): Pan-African multilateral development finance institution providing project finance, lending, and guarantee instruments across Africa. AFC's guarantee and SME-focused instruments make it a broad incumbent peer in the African DFI ecosystem.
• IFC (International Finance Corporation): World Bank Group's private sector arm and an active FONGIP partner pursuing women's entrepreneurship guarantee innovations in West Africa. IFC is a broader incumbent with global SME guarantee capabilities that FONGIP collaborates with rather than competes against.

Regional players

• BNDE (Banque Nationale pour l'Economie et le Developpement): Senegal's national development bank and a FONGIP partner institution. While a bank rather than a guarantee fund, BNDE operates a parallel development finance mandate in Senegal and co-originated the historic FONGIP-BNDE-ANA convention, making it a closely linked peer institution.
• Fonds Souverain d'Investissements Stratégiques (FONSIS, Senegal): Senegal's sovereign wealth fund, also state-owned and operating in the Senegalese development finance ecosystem. While a direct equity investor rather than a guarantee fund, FONSIS shares the same public-mandate context and Senegalese institutional base.
• Caisse des Dépôts et Consignations du Sénégal: Senegalese public financial institution serving as a long-term investor and development finance operator. Shares FONGIP's state-owned institutional context and Senegalese footprint, operating complementary public finance functions.

Direct peers

• FAGACE (Fonds Africain de Garantie et de Coopération Economique): Pan-African multilateral guarantee fund headquartered in Libreville with member states including Senegal. Operates the same public guarantee fund model for SME credit in West/Central Africa, making it the most direct institutional peer — the FONGIP AG hosted FAGACE DG for cooperation discussions in 2026.
• NIRSAL Microfinance Bank (Nigeria): Nigerian guarantee and agricultural finance institution operating a similar public risk-sharing model for SME and agricultural lending. As Africa's largest single-country credit guarantee scheme, NIRSAL is a direct emerging-market peer in the public guarantee fund space.

Others

• African Guarantee and Economic Cooperation Fund (FAGACE) — already covered above: Placeholder removed in favor of more comparable peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/FONGIP
• Facebookfacebook.com/LeFongip
• LinkedInlinkedin.com/company/fongip

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FONGIP