The commitment comes over a year after WE! Fund committed funds in a bakery in Senegal.
Women's Economic Empowerment Fund (WE! Fund), a fund investing in Sub-Saharan African women, recently committed XOF250 million (US$389,848) to Dialibatou Invest, a Senegalese coffee roaster. The investment agreement was signed on Thursday, August 4.
“Dialibatou Invest is an attractive project that not only contributes to the industrialization of the Senegalese economy to stimulate local consumption but also helps reduce the coffee shortage experienced in its local market. Dialibatou has taken up the challenge to conquer national and international markets,” said Babacar Gning, president of WE! Fund.
The commitment comes more than a year after WE! Fund’s last financing cooperation. In May 2021, the investment vehicle jointly set up by Senegalese Sovereign Strategic Investment Fund (Fonsis) and the United Nations Capital Development Fund (Uncdf) committed XOF243 million to the Senegalese bakery Mburu, which manufactures pastries with locally-produced flours.
The investment will enable Dialibatou Invest to increase its production capacity -by building a new production unit in the Thiés industrial zone- and expand its marketing activities nationwide.
Chamberline MOKO
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo • License award comes on stream as part of the...
• The International Monetary Fund (IMF) has authorized a $262.3 million disbursement for Ethiopia, taking total payments under Extended Credit...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boosting regional trade and investment• Part of broader...
• IFAD initiates a program worth $358.26 million to bolster dairy sector in Kenya, Rwanda, Tanzania, and Uganda • The program, called DaIMA, aims...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...