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Senegal: The West Africa Trade & Investment Hub granted 780 million FCFA to 3 companies

30/07/2021
Categories: Companies

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Club, Tiossane, and Entreprise Aissatou Gaye (EAG) companies in Senegal have benefited from co-investment grants totaling $1.43 million (780 million CFA francs) from the West Africa Trade & Investment Hub.

The USAID-funded West Africa Trade & Investment Hub has awarded co-investment grants to three promising Senegalese companies: Club Tiossane, a company that delivers fresh produce purchased online, and two agri-food businesses run by women, Biosene and Entreprise Aissatou Gaye (EAG). These investments will help these businesses meet market demands, create jobs, and mitigate the economic impact of the restrictions imposed by the COVID-19 pandemic. Club Tiossane will use USAID's co-investment and its own resources to purchase 14 delivery trucks to increase its home delivery volume from 1,200 to 4,000 deliveries per week. To meet market needs, Club Tiossane will establish partnerships with 400 additional small producers in Senegal, bringing the number of producers to 500 for

its supply.

biosene, a women-led food company that sells products made from local raw materials, will use USAID funds to strengthen its supply chains in Senegal and the West Africa region that have been affected by the COVID-19 pandemic. Biosene will buy 340 tonnes of semi-finished products and raw materials composed of millet, fonio, baobab fruits and powder, hibiscus, moringa and white beans from 6,600 farmers and processors of agricultural products. The second women's company concerned by these co-investments is the Aïssatou Gaye Enterprise (EAG), a rice production company based in the Ross-Béthio area, in the Saint Louis region. This company will use the new funds to overcome its difficulties in terms of working capital, agricultural advisory services and processing capacity.

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