Type of investment: Vegetables dehydration plant starting with onion
Use of Proceeds: Farming, processing and export of dehydrated onion to Africa and Europe
Financial close: October 2019
Tenor: 8 years
Type of Investment: Senior Secured Debt
S&E Category: B
On 13th October 2019, AATIF announced an investment to help Société Africaine d’Ingrédients (SAF Ingrédients) delocalize an onion dehydration plant in Senegal, in participation with the IFC. The plant will be the first of its kind in Africa and will help create over 200 jobs and boost the country’s agriculture exports.
Dijon Céréales is a large French agricultural cooperative from Franche-Comté created in July 1990 out of the fusion of 13 cooperatives, owned by 3,800 farmers and employing 515 professionals. Dijon Céréales is one of the large agri-business groups in Bourgogne-Franche-Comté region in France.
This project will be operated by a French Senegalese Joint-venture “Société Africaine d’Ingédients” created in 2019 between Dijon Céréales (a French cooperative in Dijon) and the “Club des Investisseurs Sénégalais” (“CIS”).
The loan cumulatively amounts to EUR 13m to finance capital expenditures for an onion dehydration plant to be installed in St. Louis in northern Senegal. Support from AATIF and IFC will help SAF Ingrédients develop an 800-hectare onion farm and establish an out-grower network of onion farmers.
Primary Agricultural Production*
At least 340ha of onion cultivated
150 MT p/d
Daily onion processing in MT
40,000 MT p/a
Processing capacity (annual/anticipated): up to 40,000 MT per year
Outreach to agricultural producers*
Percentage sourced or produced locally
Number of smallholders sourced from per annum
Number of employees*
SAF‐Ingredients’ operations will create approximately 70 permanent employment opportunities to local communities and about 150 temporary workers (post harvesting helpers).
* Figures are projections and estimates as the plant is not yet operational.