- Proparco lends $23 million to Sonoco to build a 600-ton/day flour mill in Freetown
- Project aims to cut flour imports and supply regional markets with local production
- Mill expected to boost food security in Sierra Leone, where 77% face food insecurity
Proparco, the private-sector arm of the French Development Agency (AFD) Group, has approved a 23 million dollar loan for Societe Nouvelle de Commerce (Sonoco) to build a flour mill in Freetown, Sierra Leone.
The project will enable Sonoco to produce wheat flour locally and reduce reliance on imports. It is also expected to supply the Liberian market and potentially other countries in the region.
The investment covers construction of a mill capable of processing 600 tons of wheat per day, along with a storage complex with capacity for 40,000 tons. Once operational, the facility is expected to produce roughly 140,000 tons of flour a year, positioning Sonoco as the leading domestic processor.
“This world-class flour plant will give the country daily access to fresh, high-quality flour. At Proparco, we believe West African countries need to strengthen their control over food value chains to ensure food security and long-term prosperity,” said Sadio Dicko, Proparco’s Regional Director for West Africa.
Proparco expects the project to stimulate agricultural activity in Sierra Leone, a country with strong farming potential but low productivity. The institution notes that nearly 77 percent of the population faces food insecurity, underscoring the urgency of developing sustainable solutions for domestic supply.
Before this new financing, Sonoco had received a 25 million dollar loan from the International Finance Corporation (IFC) in 2019 to expand its operations in Guinea.
Source: Sierra Leone: Proparco Approves $23M Loan for 600-Ton/Day Flour Mill in Freetown – Ecofin Agency