Quick Summary: Cameroon’s First African Company SA (FAC) has secured €2 million in funding from the International Finance Corporation (IFC) to expand its production of affordable dairy products and fruit juices. The investment will boost local food production, create over 1,000 jobs, and support small businesses and communities across the country.
The International Finance Corporation (IFC), a member of the World Bank Group, has partnered with First African Company SA (FAC) to scale up the local production of affordable, nutritious dairy products and fruit juices in Cameroon.
€2 Million Investment to Power Growth
The partnership, announced recently, includes a €2 million financing package aimed at increasing FAC’s production capacity and expanding its product lines. The funding is also expected to create over 1,000 direct and indirect jobs throughout Cameroon’s agribusiness value chain.
The package includes:
- A €1 million loan from IFC’s own account
- A €1 million concessional loan from the Canada Facility for Resilient Food Systems (Canada FRFS)
These funds will help FAC expand its yogurt and juice offerings. One key initiative is the launch of a new yogurt product line targeted at underserved and rural communities.
Strengthening Local Food Security
FAC’s growth plans support Cameroon’s efforts to become more self-reliant in food production. By processing more raw materials locally and distributing finished products more efficiently, the company aims to reduce the country’s dependence on imports.
“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 Small Businesses and Communities
The project is designed to strengthen Cameroon’s broader agribusiness ecosystem. It will support the growth of small and medium-sized enterprises (SMEs) involved in supplying raw materials and managing distribution.
This inclusive approach will create opportunities for local farmers, traders, and logistics providers. Women and young people are expected to benefit the most.
In addition, IFC will provide advisory services to help FAC:
- Improve environmental and social standards
- Align food safety protocols with global benchmarks
- Ensure the long-term sustainability of its operations
Supporting Cameroon’s Development Goals
This investment aligns with Cameroon’s National Development Strategy 2020–2030 (NDS30), which focuses on food security, job creation, and industrial growth.
As of November 2024, IFC had a $238 million active portfolio in Cameroon, supporting sectors such as agribusiness, manufacturing, infrastructure, and climate resilience.
“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’s Division Director for Central Africa and Anglophone West Africa.
A Step Toward Inclusive Growth
Through this new partnership, IFC and FAC are working together to improve food access, generate employment, and support inclusive development. The initiative marks a major step forward for Cameroon’s growing agribusiness sector.
