Accra, Ghana// — 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 centres 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 materials, 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,” Michael Ye, Managing Director for Sunda Ghana said.
“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,” Dahlia Khalifa, IFC’s Regional Director for Anglophone West Africa and Central Africa said.
IFC’s investment in Sunda Group will also support resource-efficient and climate-smart practices. For example, the company’s factory in Ghana is collecting the non-woven fabric offcuts and turning it into polyethene particles as a raw material used in the local plastic industry, which helps to reduce landfilled waste and avoid soil and air pollution.
