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Sudan’s richest family, the Elnefeidis, seeks $17 million from the IFC to import wheat

Sudan's richest family, the Elnefeidis, is seeking a $19 million facility from the International Finance Corporation to support wheat imports for its Cameroon business.

Sudan’s richest family, the Elnefeidis, seeks $17 million from the IFC to import wheat
Bashir Elnefeidi

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Trans Afrique General Trading FZCO, a food processing company owned by the wealthy Elnefeidi family of Sudan, is seeking a $19 million facility from the International Finance Corporation to fund its operations.

According to a disclosure published on its website, the International Finance Corporation plans to rule by July 30 on a proposed $19 million financing package for Dubai-based Trans Afrique General Trading FZCO and its two Cameroonian subsidiaries, Afisa Food Industry SA and Afisa Flour Mills SA, according to sources familiar with the matter.

The IFC board will review the proposal, which seeks to support wheat imports critical to the companies’ milling operations and improve logistics for rice and sugar. “The proposed financing will cover their working capital needs for wheat imports to support the expansion of their milling capacity,” an IFC document said.

Beyond financial support, IFC plans to help small-scale beignet vendors, the main customers of Afisa flour, through its “last-mile retail” program. The initiative would offer informal traders advice on managing their businesses and finances.

Founded in 2015, Afisa is a major player in Cameroon’s milling industry. Its Douala port facilities can store up to 40,000 tons of grain, and its operations include crushing 500 tons of wheat daily. The company is part of Elnefeidi Group, a Sudanese conglomerate with a large agribusiness presence in East Africa.

The Elnefeidi Group, controlled by Amin Bashir Elnefeidi, is Sudan’s largest family-owned business. It was founded by Amin's father, the late Bashir Elnefeidi as a small retail shop in 1934 and over the past several decades has grown into a multinational conglomerate with tentacles in agriculture and food processing, transportation, tire retreading and real estate.

The company has annual revenues of more than $400 million and employs approximately 3,000 people across Sudan, Cameroon, Chad, Egypt, United Arab Emirates, and Tanzania.

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