Guinean flour producer receives $25mn IFC loan

Société Nouvelle de Commerce, SONOCO, has received a USD 25mn loan from the IFC to finance infrastructure. The family-owned flour producer will use the investment to build a half dozen grain silos in Conakry, the Guinean capital, while ramping-up its production of wheat flour and bouillon/stock cubes.

The investment is to grow Guinea’s food-processing sector and diversify the economy away from its dominant mining sector.