Sosagrin-IBS (IFC-40131)

Countries
  • Senegal
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 21, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
SOSAGRIN-IBS
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 11.56 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2018-06-21 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 25, 2019

Disclosed by Bank Apr 20, 2018


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Project Description

The proposed loan of up to EUR 10 million, to Société Sénégalaise Agro-Industrielle (“Sosagrin”) and Industrie des Boissons du Sénégal (“IBS”) (together with Sosagrin the “Borrowers”), is to support the Borrowers’ investment program, and includes: (i) acquiring a new greenfield site and building new production and warehouse facilities; (ii) expanding production capacity; (iii) implementing a packaging recycling program; and (iv) working capital requirements.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • Industrie des Boissons du Sénégal -- Fund Manager
  • Société Sénégalaise Agro-Industrielle -- Fund Manager

Sosagrin and IBS are primarily owned and managed by the El Sahili family (the “Sponsors”). The founder, Mr. Kassim El Sahili, is joined by his two sons, Mr. Rouda El Sahili and Mr. Mohamed El Sahili in managing the businesses.

Contact Information

Sosagrin
Mr. Rouda El Sahili
General Manager
+221 33 832 18 88
rsahili@sosagrin.com
Rue n.6, Km 4,5 Bd du CC de Dakar – BP 21434 Dakar – Senegal

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/