# IFC, Proparco and EAIF provide €161.25M financing to CIMAF for West African cement expansion

IFC, Proparco and Emerging Africa Infrastructure Fund are providing a €161.25 million financing package to Ciments de l’Afrique (CIMAF) to expand cement grinding plants in Ghana and Mali and build a new integrated cement plant in Senegal. The expansion is expected to create over 300 direct jobs.

- Type: Investment
- Announced: 2021-11-19
- Where: Senegal (new plant); Ghana and Mali (expansions), Senegal
- Value: $182.0M (161.3M EUR)
- Jobs: 300
- Status: announced
- Products: cement, clinker
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ciments de l'Afrique](https://endata.com/companies/20327.md)
- [Emerging Africa Infrastructure Fund](https://endata.com/companies/28399.md) (investor)
- [IFC](https://endata.com/companies/49372.md) (investor)
- [Omnium des Industries et de la Promotion](https://endata.com/companies/59150.md) (investor)
- [Proparco](https://endata.com/companies/59151.md) (investor)

## Sources

- [africaprivateequitynews.com](https://www.africaprivateequitynews.com/p/ifc-proparco-and-eaif-back-west-african-cement-producer), 2021-11-19: "We are excited to partner with IFC on an important investment for the group, building our first integrated cement plant outside of Morocco, as well as increasing our grinding capacities in Ghana and Mali."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.