The African Guarantee and Economic Cooperation Fund (FAGACE) enabled the mobilization by the Company AMSA REALTY of an amount of ten (10) billion CFA Francs, following the issue on the financial market of the Western Monetary Union African (UMOA), a bond loan by private placement for a period of seven (07) years.
The resources raised will be used to finance the construction and rehabilitation project of university residences in the Dakar region of Senegal. This project is part of a Public-Private Partnership between the company AMSA REALTY and the State of Senegal.
The funding will allow the rehabilitation of existing pavilions and the construction of new blocks of fully equipped buildings, intended to serve as residences for students, and ancillary services (administrative buildings, restaurants, medico-social centers, etc.) on campuses of the Dakar region, in particular the Cheikh Anta DIOP(UCAD), CLAUDEL, ESP and AMADOU MAKHTAR MBOW (UAM) campuses. The project will notably increase the reception capacity of UCAD from 4,000 to 13,000 beds in the long term.
The bond loan operation initiated by AMSA REALTY is of undeniable interest for Senegal not only from an economic point of view, but above all from a social point of view.
Indeed, the educational offering on campus must be accompanied by a quality social offering, to the extent that a university is also a place to live. It is therefore as necessary as it is urgent to put in place an appropriate accommodation offer for students.
The guarantee given by FAGACE is in line with its 2021-2025 Strategic Plan which places particular interest in the structuring projects of its member States, in accordance with its mission as a catalyst for development in Africa.
To date, the Fund’s guarantee interventions in Senegal amount to 98.475 billion CFA francs.
Through this agreement, FAGACE marks its renewed interest and support in financing structuring projects in Senegal and its member states.
