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

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

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

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

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

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

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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Nestlé launches research & development innovation challenge in Africa

AFRICA – Nestlé has launched a Research and Development (R&D) innovation challenge in Sub-Saharan Africa as part of the company’s efforts to contribute to the local innovation ecosystem. The challenge will help boost local entrepreneurship, as well as provide a platform for start-ups and universities to contribute to local sustainable growth by bringing breakthrough ideas to the market. The R&D innovation challenge, which was officially launched in Ghana, will be implemented across several countries in the continent including Côte d’Ivoire, Kenya, Nigeria, Senegal and South Africa. According to the firm,…

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Livelihoods Funds strengthen investments in Africa to promote sustainability

AFRICA – Livelihood Funds, an impact investment fund created by private investors, has announced that it will be investing in new projects to support sustainability across the continent. The group said that new projects seek to combat climate change, poverty and environmental degradation by leveraging the carbon economy and the agricultural supply chains of its 12 corporate investors. Currently, 12 companies have invested in Livelihoods Funds which include;, Danone, Firmenich, Hermès, Crédit Agricole SA, Groupe Caisse des Dépôts, La Poste, Mars Inc., Michelin, SAP, Schneider Electric, Veolia and Voyageurs du…

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