Afreximbank’s FEDA backs Mauritanian FMCG business

Image Credit: Pixabay

The Fund for Export Development in Africa, a subsidiary of the African Import-Export Bank, has made an investment in an FMCG business in Mauritania. The business, TND SA, is one of the West African country’s largest importers and distributors of consumer goods and products which it sells and delivers through its own logistics services unit to both wholesalers and retailers. The terms of the investment have not yet been disclosed.

TND will use the capital to establish a manufacturing capability in Mauritania which will make dairy and poultry products to reduce import levels and replace them with locally produced foods. The initiative will have positive impacts on the balance of trade will promote industrialization and create local jobs along the full value chain.

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