With the aim of building the first factory of grinding cement from Sierra Leone for over 40 years, the Financial Corporation International (SFI) invests 24 million dollars in MACCEM Industries SL Limited.

The envelope includes a loan of 12 million dollars to the SFI's own account and an additional amount of 12 millions of dollars from the window's blended financing mechanism private sector of IDA20 SFI-MIGA. The new factory, which will be located in Freetown, will have a production capacity of 657,000 tons per year and should meet 65% of the country's cement demand.

The project will create over 4,000 direct jobs and indirect and aims to reduce Sierra Leone's heavy dependence on cement imports. Ahmad Mackie, CEO of MACCEM, said that the partnership with the SFI would strengthen the local industry, promote business growth and would stimulate inclusive development.

The factory will also integrate solar energy in order to to reduce energy costs and support Sierra goals Leone in terms of low-carbon infrastructure.