Accra, Ghana, September 6, 2023 — IFC today announced a partnership with Sunda Group to help the company ramp up the production of home care and personal care products in five African countries, helping expand Africa's manufacturing sector and creating thousands of direct and indirect jobs.
Under the partnership, IFC will provide a $107 million loan to enable Sunda Group, a Chinese-held, Africa-based manufacturing company, to expand its production facilities in Cote d'Ivoire, Ghana, Guinea, Kenya, and Nigeria
In Ghana, IFC's support includes $48 million to help Sunda Group establish a washing powder production factory in Accra and expand its production of diapers and other personal care products in the country. Sunda Group also plans to nearly double its distribution centers around Ghana for easier access to basic home care products for more households.
In Guinea, Kenya, and Nigeria, a combined $35 million from IFC will support the expansion of Sunda's production of personal care products. In Côte d'Ivoire, $24 million will help Sunda Group build a factory to produce construction material, including sheet metal and reinforcement bar products, among other materials.
"We at Sunda are delighted for this partnership with IFC, which will enable us to increase production across five key African markets. Our expansion in Ghana, for instance, will give Ghanaians access to quality, essential consumer products manufactured right here in Ghana as we deepen private sector linkages between China and Africa as enablers of employment and economic growth," said Michael Ye, Managing Director for Sunda Ghana.
"IFC is committed to strengthening manufacturing in Africa because it builds skills, creates jobs, and helps ensure that essential products are more readily available—and affordable—on the continent. The pan-African nature of IFC's partnership with Sunda Group will enhance cross-border and economic diversification across the continent," said Dahlia Khalifa, IFC's Regional Director for Anglophone West Africa and Central Africa.
IFC's investment in Sunda Group will also support resource-efficient and climate-smart practices. For example, the company's factories in Ghana, Guinea, Kenya, and Nigeria will use recycled non-woven fabric as input material to produce up to 70 percent of its hygienic products.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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About Sunda
Founded in 2000, Sunda is a leading Africa-focused private manufacturing and trading company. It started as an exporter from China to Africa, and progressively integrated backwards into manufacturing as its markets in Africa achieved critical size. Sunda operates in three business segments: FMCG (washing powder, diapers, sanitary napkins, paper towels, etc.); building materials (wall and floor tiles); and hardware products geared toward home building and improvement (roofing sheets, steel tubes, basic tools, and appliances).
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