AfDB approves $60mn loan to Elnefeidi Group’s agri expansion in Sudan

An amount of USD 60 million loan has been approved by the African Development Bank to Elnefeidi Group Holding Company to assist finance its long-term agriculture and food expansion programme.

The planned expansion includes increasing agricultural productivity, enhancing related infrastructure, food processing and distribution. It will directly contribute to developing Sudan's livestock value chain (poultry and beef) by increasing the country's export capacity for value-added livestock products. This will help reduce the economic value that the country loses by exporting millions of live animals each year.

"Agricultural transformation is one of the Bank's top five strategic priorities and the Bank is delighted to have identified a viable private sector actor like Elnefeidi Group which has a proven track record and through which we can channel the Bank's support," said Atsuko Toda, African Development Bank Director for Agriculture Finance and Rural Development.

"This approval to Elnefeidi Group is another demonstration of the African Development Bank's continued support and strong commitment to enable, deepen, and empower the private sector in Sudan, as an engine of economic and inclusive growth. This is also consistent with Sudan's National Agriculture Investment Plan, which seeks to achieve agriculture-linked growth, largely through private investments," Raubil Durowoju, the Bank's Country Manager for Sudan cited.

The loan is likely to contribute significantly to food security, food import substitution, and household incomes by creating jobs and increasing local productivity and distribution by over half a million metric tonnes each year across several countries. Elnefeidi Group employs more than 1,842 people and has distribution networks covering North, East and Central Africa.