(Business in Cameroon) – The International Finance Corporation (IFC) plans to approve or reject a $19 million financing package (about CFA10.6 billion) for Trans Afrique General Trading FZCO, a Dubai-registered firm, and its two Cameroonian subsidiaries, Afisa Food Industry SA and Afisa Flour Mills SA. IFC’s Board of Directors will review the proposal on July 30, 2025, according to sources close to the matter.
IFC aims to support wheat imports, which are essential for the companies’ milling operations, and to boost logistics for rice and sugar. “The proposed financing will cover their working capital needs for wheat imports, in order to support the expansion of their milling capacity,” an IFC document states.
In addition to financial support, IFC plans to help small-scale beignet vendors, who are the main customers of Afisa flour. Through its “last-mile retail” program, IFC will offer these informal traders advice on better managing their businesses and finances.
Afisa, founded in 2015, is a major player in Cameroon’s milling industry. The company can crush 500 tons of wheat daily, and its Douala port facilities store up to 40,000 tons of grain. Afisa operates under the Elnefeidi Group, a Sudanese conglomerate with a strong agribusiness presence in East Africa.
However, IFC’s involvement with such an integrated player raises concerns about market concentration in staple foods, especially given Cameroon’s heavy reliance on food imports. As the country struggles to revive local grain production, backing import giants like Afisa could deepen rent-seeking behaviors and undermine efforts toward sustainable food sovereignty.
Brice R. Mbodiam
