WIC Capital invests in Senegalese food company
WIC has announced its investment in ACASEN, a Senegalese food processing company.
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WIC Gestion, the manager of the WIC CAPITAL Fund, has announced its investment in Arachides et Cajou du Sénégal (ACASEN), a growing Senegalese food processing company based in Dakar.
This investment by WIC Capital is also part of their partnership with the United States Agency for International Development (USAID) Entrepreneurship & Investment unit, for which WIC Capital is an implementing partner in Senegal.
ACASEN, a Senegalese family business with roots dating back to 1992, specialises in the production and marketing of snacks made from cashews, peanuts, potatoes, and infant flour (Jogal Dox). WIC CAPITAL’s funding aims to enhance the company’s production capacity and support its transition to an industrial scale.
Hermione Awounou, CEO of ACASEN, commented, “We have ambitious development plans for both domestic and international markets, where the demand for our products has consistently exceeded our production capacity. WIC Capital’s investment is a golden opportunity for ACASEN to turn these growth ambitions into reality.”
Évelyne Dioh, managing partner of WIC Capital, stated, “We are delighted to support ACASEN in its scaling efforts. ACASEN is a family-owned business, founded in the 1990s by the current promoter’s mother, Monique Soglohoun, as a venture selling roasted peanuts and cashew nuts, which has gradually grown and formalised over time. We are confident that the experience, passion, and ambition of Hermione, coupled with our technical assistance, will make ACASEN a regional champion in the food industry.
Dieynaba Thiam Ka, project manager of USAID Entrepreneurship & Investment, highlighted, “Collaborating with partners like WIC Capital allows us to contribute to transforming challenges faced by Senegalese SMEs into growth opportunities.”
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