Senegalese cement manufacturer Sococim has secured a €75 million loan from global development institution the International Finance Corporation (IFC) to modernize and decarbonize its operations.
Sococim will integrate alternative fuel technologies – including solar and refuse-derived fuels – across its operations, reducing gas emissions by 312,000 tons annually by 2030. The modernization program will create 4,700 jobs.
“This investment will help us accelerate the implementation of our 2019 Climate Plan,” stated Elhadji Mamadou Seck, CEO of Sococim Industries. “By modernizing our kiln lines, we are engaged in full commitment to decarbonization, in order to reduce our environmental footprint and improve our energy efficiency.”
The loan will improve access to housing and aligns with the IFC’s commitment to contribute to sustainable development in Senegal, where it has invested $615 million in 2024, according to Makhtar Diop, IFC’s Managing Director.
