Dakar, Senegal, December 19, 2025 — IFC, a member of the World Bank Group, today announced a landmark investment of up to EUR 25 million (XOF 16,4 billion) in Groupe EDK, a leading Senegalese conglomerate and the country’s only significant local player in modern grocery retail.
The financing, provided largely in local currency, aims to expand access to quality grocery retail and support job creation in Senegal. It will enable EDK to renovate its existing Low Price stores and open up to 18 new grocery outlets by 2027, primarily in underserved, lower-income cities outside of Dakar, such as Karang, Fatick, and Kaolack. The expansion is expected to create approximately 2,450 direct and indirect jobs, including 850 in-store operations and maintenance roles, with a strong emphasis on gender inclusion.
IFC’s support will also help refinance and consolidate part of EDK’s existing debt, strengthening the company’s long-term growth and financial resilience.
As Senegal’s economy grows and demand for modern retail increases, IFC’s partnership with EDK will help address a critical gap in access to quality food and formal employment, especially in peri-urban and rural communities.
“IFC’s support is a game-changer for EDK and for Senegal’s retail sector,” said Demba Ka, Founder and CEO of Groupe EDK. “With IFC’s financing and expertise, we will bring quality groceries closer to more Senegalese families and strengthen local supply chains that benefit farmers, small businesses, and families across the country.”
“Supporting local champions like EDK is central to IFC’s mission in Senegal,” said Olivier Buyoya, IFC Division Director for West Africa. “By helping EDK bring modern retail to underserved communities, we are advancing food security, helping create jobs, and supporting Senegal’s Vision 2050 to boost sustainable and inclusive growth.”
IFC has provided comprehensive advisory support to strengthen the Group's financial management capabilities, reinforcing operational efficiency and adherence to international standards.
IFC's investment is supported by the International Development Association Private Sector Window (IDA PSW) Local Currency Facility (LCF) and Blended Finance Facility (BFF), which helps provide long-term, local currency financing not readily available in the market.
This partnership reinforces IFC’s commitment to empowering Senegal’s local enterprises, boosting value creation and employment across strategic sectors such as retail, manufacturing, and services. It supports the government’s “Sunu Champions” agenda to position national enterprises for regional and global competitiveness.
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 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
Stay Connected with IFC on social media.
About the IDA Private Sector Window
The International Development Association’s Private Sector Window (IDA PSW) was launched in 2017 to catalyze private sector investment in the poorest and most fragile countries. Recognizing the key role of the private sector in creating jobs and promoting economic transformation, the window provides a source of co-investment funding and guarantees to de-risk private investments supported by the World Bank Group’s International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). The IDA PSW is an option when there is no commercial solution and the Bank Group’s other tools are insufficient. For more information, visit: http://ida.worldbank.org/psw
Contacts
Stay Informed
Sign up to have customizable news & updates sent to you.