Freetown, September 24, 2025 – Sierra Leone’s industrial landscape is set for a major upgrade as IFC, the private sector arm of the World Bank Group, injects $24 million into MACCEM Industries SL Limited to build the country’s first cement grinding plant in four decades.
The financing structure includes a $12 million loan from IFC’s own account and another $12 million from the IDA20 IFC-MIGA Blended Finance Facility. The new plant, located in Freetown, will have a production capacity of 657,000 tons per year, enough to cover nearly two-thirds of the nation’s cement needs.
“This is more than a plant, it’s a strategic pivot away from import dependency,” said Ahmad Mackie, CEO of MACCEM. “We’re creating jobs, empowering local businesses, and anchoring Sierra Leone’s infrastructure future.”
The project is expected to generate over 4,000 jobs and will incorporate solar energy to reduce utility costs and carbon emissions. It also supports key sectors such as housing, roads, water systems, and energy, areas where cement demand is surging.
“This investment reflects IFC’s confidence in Sierra Leone’s private sector,” said Abdu Muwonge, WBG Joint Country Representative. “It’s a model for how blended finance can unlock industrial transformation in fragile economies.”
With IFC’s total portfolio in Sierra Leone now reaching $43.5 million, the MACCEM deal signals growing investor appetite for scalable, impact-driven ventures in West Africa’s emerging markets.
