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Meeting growing demand for new housing and infrastructure in West Africa
Project
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Signature date
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Location
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Senegal
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Financing tool
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Financing amount (Euro)
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27500000
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Financing details
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EUR 27.5m loan
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Customer
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Ciments de l'Afrique Sénégal S.A.
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Type of customer
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Company
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Country of headquarters
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Senegal
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Project number
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PSN1088
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Environmental and social ranking
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A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated financing to CIMAF to support local cement manufacturing and thereby reduce dependence on imports.
Client presentation
OIP, the parent company of CIMAF, is a leading cement supplier in North Africa and West and Central Africa, with a production of about 12 million tons a year. The group is the third largest cement manufacturer in Morocco where it has two integrated cement plants, mainly powered by wind energy. CIMAF has 13 grinding plants in 10 African countries: Burkina Faso, Cameroon, Chad, Côte d'Ivoire, Gabon, Ghana, Guinea, Guinea-Bissau, Mali and Mauritania.
Project description
The financing has been arranged by IFC. It will help CIMAF increase the capacity of its cement grinding plants in Ghana and Mali and build a new state-of-the-art integrated cement plant in Senegal. The plant will also produce clinker and a blend of limestone and other minerals used in cement manufacturing, which will reduce the region’s dependence on imports.
Project impact
This new cement plant in Senegal should support 300 direct jobs and 3,800 indirect jobs over the next 5 years, including in quarrying, transport and in other ancillary services. IFC’s financial support will be accompanied with technical assistance to help OIP Group improve its energy efficiency, increase its use of renewable energies and alternative fuels, and reduce its greenhouse gas emissions.