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Supporting local food production in Senegal
Project
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Signature date
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Location
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Senegal
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Financing tool
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Financing amount (Euro)
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15000000
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Financing details
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EUR 15m loan
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Customer
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Patisen
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Type of customer
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Company
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Country of headquarters
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Senegal
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Project number
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PSN1075
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Environmental and social ranking
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A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
With a EUR 15,000,000 loan, PROPARCO is supporting Patisen, a Senegalese company that produces and distributes foodstuffs which replace imports.
Client presentation
Patisen is one of the leaders in the West African agrifood sector. It is specialized in the production of stock (powder, tablets, cubes), mayonnaise, margarine, spreads and beverages (tea, coffee, chocolate drinks). Patisen is based in Dakar and was set up in 1981 by Youssef Omaïs, its current CEO.
Project description
A EUR 15m loan to finance development and maintenance investments to support a consolidation phase for Patisen, following a major investment in new production capacity.
Project impact
Patisen is an industrial flagship of Senegal’s economy and the country’s second largest employer. It creates net value added in the local economy through its production and processing activities for food products which replace imports. Patisen is a regional player: it exports its production to 17 Sub-Saharan African countries (including Mali, Nigeria and Guinea Conakry). PROPARCO’s support is expected to maintain 3,500 jobs over the next 5 years.