• IFC may grant up to $20 million to CBI Ghana for a low-carbon cement plant in Tema.

• The $66.7 million project includes global investors Société Générale, Norfund, and EKF Denmark.

• The plant aims to cut clinker imports, lower cement prices, and expand output to 1.4 million tons.

Continental Blue Investment Ghana Limited (CBI), one of Ghana’s main cement producers, may soon secure a loan of up to $20 million from the International Finance Corporation (IFC), the World Bank’s private sector arm. The announcement was made on August 27, 2025.

The IFC board will decide on September 30, 2025, whether to approve the financing for a limestone calcined clay cement (LC3) plant in Tema, located in the Accra industrial zone. The facility has a production capacity of 400,000 tons of calcined clay per year.

The total project cost is estimated at $66.7 million, financed through a mix of debt ($38 million, including the potential IFC loan) and equity ($28.7 million). Funding has already been secured from an international consortium that includes CBI’s parent company F. Scott, Société Générale, Norfund, and Denmark’s export credit agency EKF.

Beyond financing, the IFC will also provide technical assistance to help CBI identify and benefit from carbon market opportunities.

Boosting production capacity

The Tema plant, already in operation, is presented as the largest flash calciner in the world. It uses innovative technology that replaces 20% of imported clinker with locally sourced clay, cutting the carbon footprint of cement production.

CBI plans to increase its output from 600,000 tons to 1.4 million tons in the coming years. This expansion will reduce Ghana’s dependence on clinker imports, make cement more affordable for consumers, strengthen local supply chains, and create jobs.

CBI is a key player in Ghana’s cement industry, owned by a Swiss holding company that is a joint venture between Germany’s Heidelberg Materials and F. Scott AG. Minority shareholders include Norway’s and Denmark’s public investment funds, along with Danish equipment maker FLSmidth.