Transaction Summary
The International Finance Corporation (IFC) announced a $12 million loan to Pee Cee Holding Ltd. (PCH), a leading Sierra Leone-based consumer goods group. This investment aims to support Pee Cee Agriculture Limited (PCA), PCH's agribusiness subsidiary, in developing a 500-hectare mechanised onion farming operation located in Lungi, Sierra Leone. The project will focus on producing more than 40,000 tonnes of onions annually, alongside other staple crops like maize and potatoes. The financing is structured as a senior secured loan, with $6 million in senior debt and $6 million in subordinated debt. Through its IDA20 Private Sector Window, IFC's involvement supports Sierra Leone’s agricultural self-sufficiency goals, directly addressing the country’s heavy reliance on onion imports. The loan is part of a broader $16 million project, which also includes $4 million in equity from Pee Cee Holding Ltd. and will be used for infrastructure such as machinery, storage facilities, and precision irrigation.
