Tag: Senegal

Senegalese bakery startup Mburu secures expansion capital from WIC Capital, WE! Fund

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SENEGAL – Mburu, a Senegalese foodtech brand active in the production and marketing of breads and pastries, made from locally sourced raw materials, has secured no less than 243 million FCFA (US$450,000) funding, made up of a mix of capital and quasi-capital from WIC Capital and WE! Fund. Mburu uses millet, corn, and sorghum which are not commonly used by Senegalese bakeries, despite their nutritional value and local availability. To this end, the company has developed a whole range of bakery products to promote use of dry local cereals as…

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Senegalese food-tech startup LADC, Nigerian digital food cooperative Pricepally get funding

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WEST AFRICA – Senegalese food-tech startup Les Ateliers de Corinne (LADC), has secured an undisclosed amount of funding from WIC Capital, as Nigerian group-buying platform Pricepally undertakes pre-seed funding round. Launched in 2014 by Corinne Erambert, LADC specializes in digital culinary marketing, organization of cooking workshops and cake design. The investment will enable the Dakar based company to scale up by financing the acquisition of professional equipment, the recruitment of a professional team and the installation into new premises. “I am delighted with this partnership which reinforces the image and…

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Senegal secures US$138m from EIB to improve supply of drinking water

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SENEGAL – The European Investment Bank (EIB) is set to provide US$138.39 million (€114.5 million) in financial support to improve the drinking water supply and promote integrate solid waste management in Senegal. The support will strengthen the country’s resilience to the ongoing COVID-19 pandemic and other future pandemics as climate change exacerbates the urgency of the situation. By focusing on secondary cities, the Bank is supporting Senegal’s efforts to achieve balanced development across the country, reducing geographical disparities to ensure greater regional equity. Sustainable cities are an absolute necessity given…

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Amethis acquires minority stake in Senegalese food production company NMA

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SENEGAL – Amethis, an investment fund manager dedicated to the African continent has made its first transaction in Senegal with the acquisition of a minority stake in one of the country’s leading FMCG company, Nouvelle Minoterie Africaine (NMA). NMA founded in 2000, produces and distributes animal feed, pasta and wheat flour and has rapidly grown thanks to an organic growth, combined with the acquisition of Moulins Sentenac in 2015. Its daily production capacity is 400 tons for the feed plant, 250 tons for the mill and 55 tonnes for pasta.…

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ITFC issues grant to Senegal based ground nut oil processor to augment quality standards

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SENEGAL – The Senegalese Groundnut Oil Processing Company, SONACOS has received a grant from the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group to boost its processing capabilities. SONACOS is a public limited company that has operated in the groundnut sector in Senegal for over 40 years, with an annual processing capacity of 360,000 tons. It undertakes its operations through five factories in Lyndiane, Ziguinchor, Diourbel, Louga and Dakar and works hand in hand with producers of groundnut seeds and other aspects of…

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OPEC Fund loans US$65M to DR Congo and Senegal to boost food security

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AFRICA – The OPEC Fund for International Development is providing two loans totalling US$45 million to help increase the supply of potable water and boost food security in the Democratic Republic of Congo (DR Congo). The OPEC Fund has also signed a US$20 million public sector loan agreement with Senegal to co-finance a project that will boost food security and incomes for around 300,000 people, with a strong focus on women and youth. For DR Congo, a US$30 million loan will support the Ozone Water Supply Project to provide around…

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IFC, OCP Africa partner to strengthen rice sectors in Côte d’Ivoire, millet in Senegal

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WEST AFRICA – OCP Africa has forged a partnership with the International Finance Corporation (IFC) to support the rice and millet sectors in Cote d’Ivoire and Senegal respectively. The ultimate goal of the partnership is to advance food security in the two countries and improve the standard of living of the small-holder farmers As part of this partnership, IFC will provide consulting services to farmers and agricultural groups that are members of OCP Africa’s Agribooster program to reach nearly 12,000 Ivorian and Senegalese farmers by 2022. “We are very pleased…

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Global food ingredients supplier Tate & Lyle appoints Solevo exclusive distributor for West Africa

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WEST AFRICA – Food and beverage ingredients and solution provider, Tate & Lyle PLC, has entered into a distribution partnership with Solevo to expand its market presence in West Africa. SOLEVO is a leading blender, packer and distributor of agricultural and industrial inputs in Africa for over 70 years. In a press-release, Tate & Lyle announced that Solevo has become its exclusive distributor of ingredients in Ivory Coast, Senegal and Cameroon. Dominique Floch, Regional Sales & Technical Director, Turkey, Middle East and Africa, Tate & Lyle, said, “It’s very exciting…

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USDA launches US$38m Regional Cashew Value Chain Project in West Africa

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WEST AFRICA – The United States Department of Agriculture (USDA) is implementing a US$38 million Regional Cashew Value Chain Project in Gambia, Senegal and Guinea-Bissau. The project carried out by USDA’s Food For Progress (FFPr) is targeted to run for 6 years to enhance the regional cashew value chain and improve the trade of processed cashews in local and international markets. The project also known as the Linking Infrastructure, Finance and Farms to Cashews (LIFFT-Cashew) was launched on January 29, 2020 in Dakar, Senegal At the launch event, numerous government…

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Gambia, Senegal, Guinea-Bissau to benefit from USDA funded Cashew Value Chain

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WEST AFRICA – The United States Department of Agriculture’s (USDA) Food For Progress (FFPr) Regional Cashew Value Chain Project is implementing a US$38 million, six-year project in the Gambia, Senegal, and Guinea-Bissau. USDA says that the project will enhance the regional cashew value chain to improve the trade of processed cashews in local and international markets. Facilitating the processing of cashew nuts within the region will create new jobs and increase incomes. During the launch, the United States was represented by both the U.S. Ambassador to The Gambia, Richard Carlton…

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