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Wealth Fund Seeks to Invest Some of Senegal Oil Windfall Abroad

  • Country to allocate 10% of future oil and gas revenues to fund
  • West African economy is expected to start production next year

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.