The International Finance Corporation (IFC), a member of the World Bank Group has announced $20 million financing for local champion SONOCO Group to help develop Guinea’s poultry sector, in a move aimed at strengthening food security, supporting local agriculture, and creating jobs.
Agriculture accounts for 32 percent of Guinea’s gross domestic product (GDP), yet poultry production remains largely artisanal and small-scale. This has forced the country to import around 85 percent of the chicken it consumes. With domestic demand rising by 10 percent over the past five years, expanding competitive local production capable of delivering affordable, high-quality protein has become a national priority.
To address this challenge, IFC will provide a loan of approximately $20 million to FERMAV Industries, a newly created subsidiary of SONOCO Group. The financing will support the establishment of Guinea’s first vertically integrated poultry operation, covering the entire value chain—from poultry feed production and hatcheries to farming, processing, and distribution—on a newly developed site.
The initiative is expected to significantly reduce dependence on imports, improve access to high-quality poultry products, and generate about 400 direct jobs and nearly 3,500 indirect jobs across poultry farming, processing, logistics, and distribution.
“Investing in Guinea’s local poultry industry means investing in food security, jobs, and the country’s economic sovereignty,” said Makhtar Diop, IFC Managing Director. “Through our strengthened partnership with SONOCO Group, we are helping structure a modern poultry value chain that supports inclusive and sustainable agricultural growth.”
“For several years, SONOCO Group has been firmly committed to strengthening food security in Guinea. Through our engagement in the agri-food sector—including flour, beverages, water, rice, and Nestlé products—we strive to provide Guineans with accessible, high-quality products,” said Abdoul Karim Diallo, Chief Executive Officer of SONOCO Group. “This partnership with IFC to develop FERMAV Industries represents a major new milestone, enabling our country to establish its first integrated poultry value chain in support of national food sovereignty.”
The project’s vertically integrated model is designed to improve operational efficiency, strengthen local supply chains, and ensure greater availability of safe and affordable poultry products on the Guinean market.
The investment aligns with the Simandou 2040 program, which aims to diversify Guinea’s economy beyond mining while strengthening competitive agro-industrial value chains.
It also supports the priorities of the World Bank Group’s Country Partnership Framework (CPF) for Guinea and serves as a pilot initiative under the AgriConnect program.
IFC has partnered with SONOCO Group since 2019, when it provided a $25 million loan to support the development of food processing and storage infrastructure.
This latest financing reinforces the long-term partnership and reflects IFC’s continued commitment to mobilizing private sector investment to advance food security, job creation, and inclusive growth.
