March 29

Senegal Cement Giant Secures €242 Million From IFC

Senegal’s largest cement producer, Sococim Industries, has secured a €242m finance package from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, to build a new production line at its Rufisque cement plant in the Dakar Region.

Sococim Industries, a subsidiary of France-based multinational Vicat, is currently responsible for around four million tons of cement production per year, which is more than any other player in Senegal’s cement industry. By comparison, Africa’s largest cement producer, Dangote Cement, sold around 10 million tons of cement in 2022.

Photo courtesy of Fred Davis.

Source: African Business (link opens in a new window)

Energy, Environment, Technology