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Proparco has allocated financing to CIMAF to support local cement manufacturing and thereby reduce dependence on imports
Client presentation

OIP, the parent company of CIMAF, is a leading cement supplier in North Africa and West and Central Africa, with a production of about 12 million tons a year. The group is the third largest cement manufacturer in Morocco where it has two integrated cement plants, mainly    powered by wind energy. CIMAF has 13 grinding plants in 10 African countries: Burkina Faso, Cameroon, Chad, Côte d'Ivoire, Gabon, Ghana, Guinea, Guinea-Bissau, Mali and Mauritania.

Project description

The financing has been arranged by IFC. It will help CIMAF increase the capacity of its cement grinding plants in Ghana and Mali and build a new state-of-the-art integrated cement plant in Senegal. The plant will also produce clinker and a blend of limestone and other minerals used in cement manufacturing, which will reduce the region’s dependence on imports.

Project impact

CIMAF’s expansion in Ghana should support 90 direct jobs and some 4,700 indirect jobs over the next 5 years, including in quarrying, transport and in other ancillary services. IFC’s financial support will be accompanied with technical assistance to help OIP Group improve its energy efficiency, increase its use of renewable energies and alternative fuels, and reduce its greenhouse gas emissions.

11/02/2021
Date of signature of the project
Ghana
Location
Financing tool
6 250 000 Euros
Amount of funding
EUR 6.25m loan
Financing details
Ciments de l'Afrique Ghana S.A.
Client
CES