CIMAF

Debt to support Ciments de l’Afrique, a cement player in West Africa to increase the supply of cement in Senegal, Mali and Ghana.

 

Expected impact on people
A minimum of 750 construction jobs and 275 jobs during operation and maintenance.

Expected impact wider economy
Businesses that are highly dependent on cement as part of their supply chain will benefit the most (e.g., infrastructure and construction sectors).

SDG assessment
8.5 + 9.4 – Promote inclusive and sustainable industrialisation, supporting economic growth and job creation.

Market transformation
Challenge: Demand for cement is growing and deficits are met currently met through imports which has led to high domestic prices.
Channel: Increase integrated cement capacity in Senegal by 18% and increase cement grinding capacity by 25% and 5% in Mali and Ghana respectively.
Outcome: Support additional domestic clinker and cement production in three countries to reduce the cost and improve the efficiency of the market.

Mobilisation
Mobilised $102.8m of private sector investment.

Climate risk
Transition: Cement production is emission intensive and considered one of the hardest to abate sectors. CIMAF has agreed to a climate plan which includes (i) the use of energy efficient equipment in production process, (ii) a planned programme of measures to reduce emissions that covers partial fuel switching to low carbon fuels to reduce fossil fuel use in clinker production process, use of solar PV to reduce grid electricity consumption and potential use of WHR to further reduce grid electricity consumption and (iii) board level commitment to GHG reductions in
production process and operations.

HSES
As part of the due diligence process, 23 HSES enhancement opportunities were identified which are now reflected in the Project Environmental and Social Action Plan (ESAP).