After having provided technical assistance grants to the cold chain development company Ifria in 2021, the U.S. financial institution DFC has decided to finance the construction of Ifria refrigeration facilities in two African countries.
Yesterday, the U.S. Development Finance Corporation (DFC) announced the signing of commitment letters worth a total of $20 million with Ifria Cold Chain Development Company, a cold chain development company for the North and West African markets.
The funds will be used to finance new cold storage facilities in Morocco and Senegal to help extend the shelf life of perishable foodstuffs and pharmaceutical products for farmers, retailers, and consumers.
Of this amount, $9.3 million is allocated to Ifria Agadir SAS for the establishment of a cold chain warehouse in the Moroccan town of Oulad Teima. The remaining $10.5 million is granted to Ifria Cold Chain Development Company Senegal for the development of a cold chain warehouse required for large-scale storage of food and pharmaceutical products in Senegal.
These financing agreements were concluded on the sidelines of the 2023 annual meetings of the World Bank and the IMF, which have been taking place in Morocco since October 9. For Ifria, this funding will support the development of its food and pharmaceutical supply chain logistics infrastructure in Morocco and Senegal.
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...