twitter RSS Feed linkedin acp contact

IFC loans CEDIAM to support Mali’s mango sector

IFC, a member of the World Bank Group, has announced the recent disbursement of a loan to support expansion at Mali's leading mango processor, Centre d'Étude et de Développement Industriel et Agricole du Mali (CEDIAM), helping the company increase farmers’ access to markets and boost production and exports of the flavourful fruit

AdobeStock 280032909Farmers will be supported directly with training to improve their agricultural methods. (Image source: Adobe Stock)

IFC’s loan will help CEDIAM complete upgrades to its production facility, purchase the equipment it needs to increase the number of mangoes it collects, and add up to 1,000 smallholder mango farmers to its already 2000-strong farmer supply chain. The funding will also support 300 direct and indirect jobs at CEDIAM. 

IFC’s investment of up to US$2.4mn (€2mn) consists of a senior A loan of up to US$1.2mn (€1mn) from IFC’s account and a concessional loan of up to US$1.2mn (€1mn) from IFC in its capacity as implementing entity for the Private Sector Window of the Global Agriculture and Food Security Programme (GAFSP).

The funds, which will also provide working capital for CEDIAM, are expected to boost the company’s exports of mango puree and concentrate on Europe and other markets. IFC will also provide CEDIAM with advisory services to help it strengthen its corporate governance, and financial management, and environmental, and social risk management practices.

Farmers will be supported directly with training to improve their agricultural methods, not only in mango farming, but also in intercropping other varieties to boost their incomes. The advisory services support is co-funded by the Global Agriculture and Food Security Programme (GAFSP).

“This partnership will help our company become more modern, sustainable, and profitable. It will positively impact local mango production and transformation in Mali and benefit all stakeholders in this value chain. It will also improve our corporate capacity and allow us to meet international market standards,” said Diadié Sankaré, CEDIAM’s chairman.

“IFC’s partnership with CEDIAM will create jobs and strengthen Mali’s important agriculture sector, which contributes significantly to the country’s employment and GDP. The project also highlights how IFC and the World Bank are working together to support the resilience of job-creating, private sector companies in the Sahel region particularly during severe market challenges brought by COVID-19,” said Aliou Maiga, IFC’s director for West and Central Africa.

IFC’s investment is part of the World Bank-IFC joint implementation plan for agribusiness in Mali, which supports partnerships between smallholder farmers and agribusiness players. The World Bank-funded projects, through the Mali Support to Agro-Industrial Competitiveness Project (PACAM), aim to address infrastructure challenges by rehabilitating rural roads and building collection facilities.

The US$30mn PACAM programme has already rehabilitated 300km of rural roads in fruit production areas in Mali and conducted campaigns to improve the quality of mangos for export.

“Expanding CEDIAM and increasing the competitiveness of Mali's mangoes internationally will create more opportunities and revenues for Malian farmers, one way that the World Bank Group is working to create markets and strengthen local rural economies in the country,” said Soukeyna Kane, World Bank country director for Mali.

IFC’s investment benefited from on-the-ground support and flexible funding from IFC’s Fragile and Conflict-affected Situations (FCS) Africa Unit and its Conflict Affected States in Africa (CASA) initiative, which is supported by Ireland, the Netherlands, and Norway.


LATEST NEWS IN Agriculture

African food imports bill predicted to double by 2030

African food imports bill predicted to d…

Experts have warned that the cost of Africa’s yearly food imports could increase from US$50bn to US$110bn by 2030 if immediate measures aren’t taken to increase food production

Wildlife and forestry sector in the spotlight

Wildlife and forestry sector in the spot…

On August 22, the 23rd session of the African Forestry and Wildlife Commission, hosted by the Government of the Democratic Republic of the Congo opened in Kinshasa, putting the future...

Boosting investment for Africa-made cotton

Boosting investment for Africa-made cott…

At a partner’s conference on cotton, jointly organised with the World Trade Organization (WTO) and the UN Conference on Trade and Development (UNCTAD), donors were urged to mobilise resources for new partnerships.   

Nature-based solutions help farmers in Ghana

Nature-based solutions help farmers in G…

Organic pesticides, waste-based fertilisers and forest regeneration are just a few of the green initiatives being employed in Ghana to boost farming communities’ resilience to the impacts of climate...

Boosting soil nutrient mapping in sub-Saharan Africa

Boosting soil nutrient mapping in sub-Sa…

The Food and Agriculture Organization of the United Nations (FAO) is set to fast track an impact-oriented project in sub-Saharan Africa and Central America for digital soil nutrient mapping, after...

Gambia-Korea partnership seeks to double rice production to curb food insecurity

Gambia-Korea partnership seeks to double…

President Adama Barrow has received a delegation led by the Korean Ambassador to The Gambia, HE Kim Ji-Joon, at the State House in Banjul to announce the delivery of sample rice...

Prev Next

OTHER RELATED ARTICLES - Agriculture

Bühler, Vyncke partner to offer low-carbon-emissions food plants

Bühler, Vyncke partner to offer low-carb…

Bühler Group and Vyncke have partnered to offer integrated solutions with which biomass side stream products are transformed into clean process energy while reducing the customers’ carbon footprint

Malawi’s cereal production in 2020 estimated at bumper level

Malawi’s cereal production in 2020 estim…

Malawi’s cereal production in 2020 is helping to bolster households’ food supplies and keeping national import requirements at below‑average level in 2020/21, according to FAO’s Global Information and Early Warning...

FAO: Indigenous foods to alleviate nutrition crisis in Southern Africa

FAO: Indigenous foods to alleviate nutri…

The Food and Agriculture Organization of the United Nations (FAO), in partnership with the New Partnership for Africa's Development of the African Union Development Agency (AUDA-NEPAD), organised a three-day sub-regional...

African farmers send out message of optimism, caution to UN leaders

African farmers send out message of opti…

A report – ‘On Air Dialogues: Listening to Rural People’ – released recently by Farm Radio International, the International Fund for Agricultural Development (IFAD), World Vision Canada, and the Canadian Food Security...

From food insecurity to healthcare provision

From food insecurity to healthcare provi…

The measures in place for food provision and the supply of medicines were recently explored by Dr Sylvester Kimaiyo, programme director at the Moi Teaching and Referral Hospital (MTRH) in...

Tropics susceptible to soil erosion: International study

Tropics susceptible to soil erosion: Int…

Regions located in the tropical climate zones suffer the greatest rainfall-related soil erosion, according to a study published in Scientific Reports, an online open access scientific mega journal

Team Europe bolsters food security in Kenya and neighbouring countries

Team Europe bolsters food security in Ke…

The EU, Germany, the Netherlands, Belgium, France, Sweden and Denmark are bolstering food security in Kenya and neighbouring countries with more than US$153.50mn at a time of crisis due to...

IFRC President: Lesotho’s vulnerability to drought will continue without increased investment in resilience

IFRC President: Lesotho’s vulnerability …

Lesotho will continue to experience devastating droughts and food crises unless there is a dramatic increase in investment in community-level resilience and preparedness

SAC Consulting develops carbon calculating tool Agrecalc

SAC Consulting develops carbon calculati…

In response to the growing need for a simple-to-use, accurate and science-driven carbon audit tool, SAC Consulting, part of Scotland’s Rural College (SRUC), has developed Agrecalc that is being used...

South Korea investing US$5mn in Rwandan agriculture

South Korea investing US$5mn in Rwandan …

Korea International Cooperation Agency (KOICA) is investing US5$mn in Rwanda to support modern farming in Nyaruguru district

Nigeria's President urges West, Central Africa to motivate youth in agriculture

Nigeria's President urges West, Central …

President Muhammadu Buhari advised West and Central African countries to engage youth for agricultural development to help meet demands of the rising population

Tanzanian farmer demonstrates potential of greenhouse farming

Tanzanian farmer demonstrates potential …

A tomato greenhouse farm, constructed with local materials in Dar es Salaam, has elicited huge interest in Tanzania

Prev Next