The West African Development Bank (WADB) has signed a $25 million USD revolving credit facility with Topaz Multi-Industries SA to increase industrial production in Guinea, strengthen local value chains, and support the competitiveness of the manufacturing sector. The agreement was signed on October 13, 2026.
A major player in the manufacturing sector in West Africa, Topaz Multi-Industries serves a customer base spread across several countries in the region, with regional markets representing a significant portion of its activities. This facility will support and enhance the company’s ability to source raw materials, maintain production, and meet the growing demand for industrial and consumer products.
Beyond financing industrial production, this transaction demonstrates the Bank’s commitment to creating local value added and reducing dependence on the export of raw materials. By supporting their transformation into finished products, this facility will contribute to the development of local supply chains, the expansion of manufacturing activity, and the strengthening of the region’s capacity to create jobs and retain a greater share of economic benefits within its economies.
Speaking at the signing ceremony, Dr. George Agyekum Donkor, President of WADB and its Board of Directors, emphasized the importance of a competitive manufacturing sector in accelerating sustainable economic transformation in West Africa. He stated that access to financing allows companies to expand their activities, preserve jobs, and strengthen economic resilience. He added that this transaction illustrates WADB’s commitment to catalyzing private sector investment and supporting industrial development in the region.
Mr. Roshan Ashok Vaswani, Managing Director of Topaz Multi-Industries SA, stated that this facility will allow the company to increase its production capacity, respond more effectively to market demand, and contribute to the industrial development of Guinea.
This financing is aligned with WADB’s 2026-2030 GRO (Growth, Resilience, and Optimization) Strategy, particularly through its focus on private sector development, industrial transformation, and regional value chain development. Through this partnership, WADB also reaffirms its commitment to the United Nations Sustainable Development Goals (SDGs), particularly SDG 8 on decent work and economic growth, SDG 9 on industry, innovation, and infrastructure, and SDG 17 on partnerships for the goals.
