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CIMAF Gabon: a loan to develop a local cement industry

Project

Sustainable industries
Signature date
Location
Gabon
Financing tool
Loan
Financing amount (Euro)
23500000
Financing details
EUR 23.5m loan
Customer
Ciments de l'Afrique Gabon SA
Type of customer
Company
Country of headquarters
Gabon
Project number
PGA1075
Environmental and social ranking
A
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

By supporting the development of the Gabonese subsidiary of CIMAF, Proparco is helping to reduce cement imports. This material is essential to the development of infrastructure in Gabon.

Client presentation

Cimaf Cabon is the Gabonese subsidiary of CIMAF, a Moroccan group with a pan-African activity in manufacturing and marketing cement. The group has 13 cement plants in Africa (including 5 under construction), with a production capacity of 8.5 million tons of cement per year.

Project description

The project involves a EUR 23.5m senior loan to Cimaf Gabon for an extension of 350 kilotons per year in a cement grinding unit in Owendo in Gabon.

Project impact

The project should contribute to:

  • Import substitution (the project replaces cement imports, in line with the aim of the authorities to develop local industry) 
  • Providing support for construction material essential to the development of infrastructure and housing    
  • Creating or maintaining over 2,000 jobs over the next 5 years
  • Providing assistance to improve the Group’s environmental and social (E&S) practices, in particular for the clean-up and decommissioning of a derelict site owned by a local subsidiary of the borrower, CimGabon. 

The project will therefore support SDG 8 “Decent work and economic growth” and SDG 9 “Industry, innovation and infrastructure” by developing local cement production and thereby supporting the construction of infrastructure in the country.   

CIMAF GUINEE

CIMAF GUINEE