{"id":474486,"date":"2021-11-25T13:55:08","date_gmt":"2021-11-25T13:55:08","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=474486"},"modified":"2021-11-25T13:55:08","modified_gmt":"2021-11-25T13:55:08","slug":"senegal-itfc-replenishes-sonacos-coffers","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/11\/25\/senegal-itfc-replenishes-sonacos-coffers\/","title":{"rendered":"Senegal: ITFC replenishes Sonacos&#8217; coffers"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The Senegalese National Groundnut Company (Sonacos) has secured 40 million euros in funding from the International Islamic Trade Finance Corporation (ITFC) as part of the post-Covid revival of the Senegalese agricultural sector.<\/p>\n<p>The facility, dedicated to financing part of the 2021-2022 peanut campaign, will cover Sonacos&#8217;s financing needs to ensure the acquisition of 150,000 tonnes of peanuts from the current harvest from farmers. It brings the total ITFC-approved funding to Senegal to more than $ 1.1 billion in 19 operations since ITFC&#8217;s inception in 2008.<\/p>\n<p>A vital sector of the Senegalese economy, agriculture contributes around 16% of the country&#8217;s GDP with revenues from peanut exports totaling 329.3 million euros during the 2020\/2021 crop year.<\/p>\n<p>\u201cITFC&#8217;s \u20ac 40 million funding provides an indispensable resource for our farmers and it is a fundamental step to ensure the success of the 2021\/2022 peanut marketing campaign in Senegal,\u201d said the Managing Director. from Sonacos, Modou Diagne Fada.<\/p>\n<p>It should be noted that the facility comes one month after ITFC granted a loan of 100 million euros to the Senegalese National Electricity Company (Senelec) to ensure its supply of petroleum products.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The Senegalese National Groundnut Company (Sonacos) has secured 40 million euros in funding from the International Islamic Trade Finance Corporation (ITFC) as part of the post-Covid revival of the Senegalese agricultural sector. The facility, dedicated to financing part of the 2021-2022 peanut campaign, will cover Sonacos&#8217;s financing needs to ensure the acquisition of 150,000 tonnes<\/p>\n","protected":false},"author":527297,"featured_media":474487,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[15971,12040,12046],"tags":[12387,16241,13062,20273],"class_list":{"0":"post-474486","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-industry","8":"category-international-institutions","9":"category-leaders-en","10":"tag-itfc-en","11":"tag-senegal-2","12":"tag-sonacos-en","13":"tag-sonacos-coffers","14":"post_format-post-format-aside","15":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Senegal: ITFC replenishes Sonacos&#039; coffers - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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