Partners with Cameroon’s First African Company (FAC) to Expand Access to Nutritious Food and Spur Economic Growth

Douala – Cameroon, Tuesday, April 1, 2025, The International Finance Corporation (IFC), a member of the World Bank Group, today announced a partnership with First African Company SA (FAC) to expand local manufacturing of affordable and nutritious dairy products and fruit juices in Cameroon.

IFC’s €2 million financing package will support FAC’s expansion program, enhance food security, and create thousands of jobs across the country’s agribusiness value chain.

Under the agreement, IFC will provide a loan of up to €1 million from its own account and a concessional loan of €1 million through the Canada Facility for Resilient Food Systems (Canada FRFS). The funding will enable FAC to scale up production of its yogurt and juice brands, including the introduction of a new yogurt product line, increasing access to nutritious foods, particularly in Cameroon’s rural and underserved regions.

The project is expected to create more than 1,000 direct and indirect jobs, foster inclusive economic growth, and strengthen the domestic supply chain for nutritious foods. FAC’s expansion will provide Cameroonians with affordable, high-quality products, at a time when nutrition and food security remain pressing challenges for many households.

In addition to financing, IFC aims to help FAC strengthen its environmental and social practices, improve food safety standards with advisory program, and aligning the company with global best practices. “Today’s partnership with IFC marks a significant milestone for FAC as we strive to bring nutritious and affordable products to more communities in Cameroon. With this support, we aim to close the nutrition gap, create employment opportunities, and empower women and youth in our distribution networks,” said Martin Ngouchet, Founder and Chief Executive Officer of FAC.

“IFC’s investment in FAC exemplifies our commitment to promoting sustainable, inclusive growth in Cameroon’s private sector,” said Dahlia Khalifa, IFC Division Director for Central Africa and Anglophone West Africa. “By expanding the production of nutritious foods and creating economic opportunities for small businesses, this project demonstrates the transformative power of private sector investment in addressing food security and fostering job creation. IFC’s financing will bolster Cameroon’s domestic agribusiness sector, a priority for the country’s National Development Strategy 2020-2030 (NDS30). By investing in local value addition, FAC’s expansion will reduce Cameroon’s reliance on food imports, enhance the competitiveness of the country’s food processing industry, and catalyze growth in small and medium-sized enterprises (SMEs) that supply raw materials and distribute finished products.

In Cameroon, IFC works to stimulate private sector growth, expand access to finance for SMEs, and support critical sectors such as agribusiness, manufacturing, and infrastructure. As of November 2024, IFC’s committed portfolio in Cameroon stood at $238 million, focusing on projects that foster job creation, enhance food security, and promote climate resilience.