CIMAF gets €161.5m loan from IFC, EAIF & Proparco to expand operation in Mali, Senegal & Ghana

Ciments de l’Afrique (CIMAF) a subsidiary of Morocco-based Omnium des Industries et de la Promotion (OIP) has landed a €161.5-million loan from the International Financial Corporation (IFC), French-government-owned Proparco, and Emerging Africa Infrastructure Fund (EAIF) earmarked to increase capacities of its grinding plants in Mali, Ghana, and to launch a state-of-the-art integrated cement plant in Senegal.

IFC will provide €92.5 million of the funding while Proparco, the subsidiary of the French Development Agency (AFD) for the private sector, will give €33.7 million in form of parallel loan. EAIF will provide the remaining €35 million.

The loan will also enable CIMAF through the expansion plans to generate additional 3,000 direct jobs and 12,000 indirect jobs in the areas of quarrying, transportation and other auxiliary services.

CIMAF is present in 10 African countries namely, Burkina Faso, Chad, Ghana, Cameroon, Mali, Côte d’Ivoire, Gabon, Guinea Bissau, Guinea, and Mauritania.