The International Finance Corporation (IFC)—a member of the World Bank Group—has partnered with First African Company SA (FAC) to expand the local production of affordable, nutritious dairy products and fruit juices.
Announced some days ago, the collaboration includes a €2 million financing package that will fuel FAC’s production capacity, introduce new product lines, and generate over 1,000 direct and indirect jobs across the country’s agribusiness value chain.
The package comprises a €1 million loan from IFC’s own account and an additional €1 million concessional loan via the Canada Facility for Resilient Food Systems (Canada FRFS). These funds will be used to scale up FAC’s yogurt and juice offerings, including the launch of a new yogurt product line that will particularly benefit underserved and rural communities in Cameroon.
Strengthening Food Security Through Local Value Chains
FAC’s expansion aligns with national priorities to increase self-reliance in food production and reduce dependency on imports. By processing more raw materials locally and distributing finished products more efficiently, the company aims to make high-quality nutrition accessible to more households—especially those vulnerable to food insecurity.
“Today’s partnership with IFC marks a significant milestone for FAC,” said Martin Ngouchet, Founder and CEO of FAC. “With this support, we aim to close the nutrition gap, create employment opportunities, and empower women and youth in our distribution networks.”
Empowering Communities and Small Businesses
Beyond job creation, the project promises to bolster Cameroon’s agribusiness ecosystem by catalyzing the growth of small and medium-sized enterprises (SMEs) that supply raw materials and handle distribution. This inclusive economic model is expected to empower local farmers, traders, and logistics providers, particularly women and youth.
The initiative will also include advisory support from IFC to help FAC improve its environmental and social practices, align food safety protocols with global standards, and ensure long-term sustainability.
“By expanding the production of nutritious foods and creating economic opportunities for small businesses, this project demonstrates the transformative power of private sector investment,” said Dahlia Khalifa, IFC Division Director for Central Africa and Anglophone West Africa.
Supporting Cameroon’s National Goals
The partnership supports Cameroon’s National Development Strategy 2020–2030 (NDS30), which emphasizes food security, industrialization, and job creation. As of November 2024, IFC had a $238 million committed portfolio in Cameroon, focusing on key sectors including agribusiness, infrastructure, manufacturing, and climate resilience.
With this new investment, IFC and FAC are not only expanding access to nutritious food—but also driving inclusive, sustainable development in one of Africa’s most promising agribusiness markets.
