IFC Partners with SONOCO Group to Strengthen the Poultry Industry, Improve Food Security, and Create Jobs in Guinea

• IFC and SONOCO Group sign a strategic partnership.
• Establishment of Guinea's first vertically integrated poultry value chain.
• Objective: strengthen food security and create nearly 4,000 jobs.
• Investment amount: $20 million.

Conakry, Guinea, March 26, 2026 - To strengthen food security, support local agriculture, and create jobs in Guinea, International Finance Corporation (IFC), a member of the World Bank Group, today announced financing for local champion SONOCO Group to help develop the country's poultry sector.

Agriculture accounts for 32 percent of Guinea's gross domestic product (GDP). Yet poultry production remains largely artisanal and small-scale, forcing the country to import around 85 percent of the chicken it consumes. With domestic demand increasing by 10 percent over the past five years, developing competitive local production capable of supplying affordable, high-quality protein has become a national priority.

To address this challenge, IFC will provide a loan of approximately $20 million to FERMAV Industries, a newly created subsidiary of SONOCO Group, to finance the establishment of Guinea's first vertically integrated poultry operation. The project will cover the entire value chain-from poultry feed production, hatcheries, and farming to processing and distribution-on a newly developed site.

The initiative will significantly reduce dependence on imports, improve consumers' access to high-quality poultry products, and create about 400 direct jobs and nearly 3,500 indirect jobs across poultry farming, processing, logistics, and distribution.

« Investing in Guinea's local poultry industry means investing in food security, jobs, and the country's economic sovereignty," said Makhtar Diop, IFC Managing Director. "Through our strengthened partnership with SONOCO Group, we are helping structure a modern poultry value chain that supports inclusive and sustainable agricultural growth. »

« For several years, SONOCO Group has been firmly committed to strengthening food security in Guinea. Through our engagement in the agri-food sector-including flour, beverages, water, rice, and Nestlé products-we strive to provide Guineans with accessible, high-quality products," said Abdoul Karim Diallo, Chief Executive Officer of SONOCO Group. "This partnership with IFC to develop FERMAV Industries represents a major new milestone, enabling our country to establish its first integrated poultry value chain in support of national food sovereignty. »

An integrated model to support the entire value chain

The project's vertically integrated model will improve operational efficiency, strengthen local supply chains, and ensure greater availability of safe and affordable poultry products on the Guinean market.

An investment aligned with national priorities

This investment is aligned with the Simandou 2040 program, which aims to diversify Guinea's economy beyond mining and strengthen competitive agro-industrial value chains. It also supports the priorities of the World Bank Group's Country Partnership Framework (CPF) for Guinea and represents a pilot initiative under the AgriConnect program.

IFC has been a partner of SONOCO Group since 2019, when it provided a $25 million loan to support the development of food processing and storage infrastructure. This new financing strengthens the long-term partnership and reflects IFC's commitment to mobilizing the private sector to advance food security, job creation, and inclusive growth.