COUVOIR AMAR (IFC-49731)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Senegal
Geographic location where the impacts of the investment may be experienced.
Specific Location
Diass, Thies region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 7, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Africaine de Production Animale, Couvoir Amar
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.44 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 5
Converted using 2025-03-28 exchange rate.
Loan Amount (USD)
$ 5.44 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 5
Converted using 2025-03-28 exchange rate.
Project Cost (USD)
$ 10.12 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 12, 2025

Disclosed by Bank Mar 28, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the IFC, the proposed investment involves an 8-year (incl. 3-year grace) A Loan of up to  EUR 5 million (equivalent in XOF), with a subsidy for a rate buy-down from the GAFSP Local Currency Pilot facility to Africaine de Production Animale (APRAN or the “Company”) as borrower and Couvoir Amar (CA) as co-borrower to finance the construction of a 76,800 tons per annum animal feed mill.

Both companies operate in the entire value chain from egg import, hatcheries, production of Day Old Chicks, breeders, broilers and a slaughterhouse. The Companies serve a diverse clientele, primarily smallholders, as well as restaurants, slaughterhouses, supermarkets, hotels (broilers), and other actors in the value chain. The use of the proceed will exclusively be used for the capital and operational expenditure for the feed mill by APRAN.

The project will be located in the Special Economic Industrial Zone (SEIZ) currently being developed in Diass, close to Dakar, Senegal. The industrial zone development is under constructed by the national agency for investment, “L’Agence Nationale chargée de la Promotion de l’Investissement et des Grands Travaux” (APIX). The total surface area of the SEIZ is around 718 hectares, while the land earmarked for the construction of feed mill is 1.9 hectare, i.e 0.26% of the total surface area of the SEIZ. The feed mill will produce feed for both poultry and ruminants. The majority of the product from the feed mill is expected to be consumed by the company’s farms and its value chain, mainly smallholder farmers. The raw material will be mainly soybeans and maize which will be imported through an international trader mainly from Brazil. Groundnut, risk husks and fishmeal will also be used.  

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, Couvoir Amar and APRAN are owned by Mr. Serigne Amar and his siblings.

Both companies operate in the entire value chain from egg import, hatcheries, production of Day Old Chicks, breeders, broilers and a slaughterhouse. The Companies serve a diverse clientele, primarily smallholders, as well as restaurants, slaughterhouses, supermarkets, hotels (broilers), and other actors in the value chain.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Couvoir Amar Client Agriculture and Forestry contracts with Africaine de Production Animale (APRAN) Client Agriculture and Forestry

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Couvoir Amar and Africaine de production d’animale:

Serigne Amar - CEO of Couvoir Amar
Phone: +221 784511204
Email: serigne.amar@couvoiramar.com
Address: Keur Massar, Cité Nouvelle Destination villa N°39 Près de la station Shell.
Website: www.couvoiramar.com  

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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