| Organisation | West African Investment Fund |
| Alternate Name | Fonds Ouest Africain d'Investissement |
| Abbreviation | FOAI |
| Parent | Bank of Africa - Cote d'Ivoire (0.6%); Benin Office of Social Security - MLPW (23.5%); CRRAE-UMOA - Caisse de Retraite par Repartition Avec Epargne de l'Union Monetaire Ouest Africaine (29.4%); Commercial Bank of Burkina (0.1%); Continental Bank - Benin (0.1%); Financial Bank - Benin (0.2%); Social Insurance Institute - National Social Security Fund (0.6%); West African Development Bank (29.4%) |
| u.r.l. | http://www.izf.net/IZF/Financement/FOAI.htm |
| info@soaga.org | |
| Country | Benin |
| Location | Cotonou |
| Address | Société Ouest Africaine de Gestion d'Actifs (SOAGA), Villa N°3, Lot 87 avenue Jean Paul II, Cotonou, Cotonou |
| Postal Address | 08 BP 960 Cotonou |
| Telephone | (229) 21.31.88.14/15 |
| Management u.r.l. | |
| Fax | (229) 21.31.88.13 |
| Sector | Investment - General |
| Organisation Type | African Multilateral |
| Status | |
| Stated Role | FOAI is an instrument for the mobilisation of domestic savings in West African Economic and Monetary Union (WAEMU) countries to benefit privatised companies working in the production and the management of collective public services and private infrastructure financing.<P>Created in October 2002, FOAI entrusted its management to the West African Asset Managing Company (SOAGA). By doing so, FOAI adopts a structure complying with international practice in terms of asset management for a third party, which is based on separation of investment and management professions.<P>The capital of FOAI is made of contributions from investors willing to invest in assets of their choice. Therefore, the investors of FOAI can decide to withdraw their funds whenever they want. For that reason, FOAI is considered as investment company with variable capital (SICAV). |
| Activities | |
| Geographical Focus | |
| Notes | SICAV FOAI ----------------- Who is the target of the FOAI? ------------------------------------ -Institutional investors seeking for investments with medium profits with at lower risk. -The value of the share is CFA F 10 million and the minimum period of investment is 3 years. The objective of the promoters of the FOAI is to achieve 10% p.a How is it working? ------------------- *To acquire shares, the investor must contact the SOAGA (the managing company) in Cotonou or any bank partner in the fund: -Banque Internationale du Burkina (BIB) - BURKINA -Bank of Africa (BOA): Bénin, Burkina, Cote d'Ivoire, Mali, Niger, Sénégal -Ecobank : Bénin, Burkina, Cote d'Ivoire, Mali, Niger, Sénégal, Togo. -Financial Bank : Bénin -Continental Bank : Bénin -Banque Internationale du Bénin (BIBE). *The shares will be sold publicly and the investor must first agree to pay a unique fee of access to the market; *SOAGA, the company managing the fund will then re-invest the fund received accordingg to its investment strategies, and will re-issue new shares. *The investor can freely decide to sell these shares at any time. The FOAI benefits from a liquidity garantee by the BOAD and PROPARCO. [ Retrieved on 20/09/2007 - http://www.izf.net/IZF/Financement/FOAI.htm ] |
| Current Positions | |||
| Position | Name | From | To |
| Budgets | ||||
| Donor | From | To | Budget ($) | Note |
| Links to Related Organisations |
| Subsidiary Organisations |
| Associated Organisations | West African Assets Management Company |
| Donor Recipients |
| Past Positions | |||
| Position | Name | From | To |
| Record last updated on 14 MAR 2008 |