Dakar, Senegal, December 4, 2025 — To bolster local manufacturing and help improve access to quality healthcare equipment and consumables in Senegal, IFC, a member of the World Bank Group, today announced a partnership with leading Senegalese healthcare supplier Carrefour Medical, part of COSEMAD Group.
Under the partnership, IFC is providing the equivalent of €18 million (XOF 12 billion) -- the majority in local currency -- to help Carrefour Medical expand its distribution capacity for medical equipment and consumables. The funding will also support the completion of Carrefour Medical’s new headquarters, which will house a technical center for equipment maintenance, a training center for engineers, and help scale operations of its newly built dialysis kit component production plant. The project is expected to create more than 1,000 direct and indirect skilled jobs.
As demand for healthcare is growing in Senegal, IFC and Carrefour Medical’s partnership is helping meet a critical need in the market by providing better access to vital dialysis and other specialized services.
"IFC’s partnership has gone far beyond providing financing. Their team took the time to understand our current operations and long-term ambitions, helping us refine our expansion plans and identify future market opportunities. It also represents international recognition of the relevance of our vision, the strength of our achievements, and the credibility and solvency of our organization,” said Saliou Mboup, Carrefour Medical’s Founder and CEO. “With IFC’s support and industry expertise, we are building a stronger, more resilient business that can meet Senegal’s and West Africa’s growing healthcare needs."
“Bolstering private sector investments in healthcare is critical to improve resilience and service delivery. IFC’s partnership with Carrefour Medical will not only help boost local healthcare manufacturing, but also reduce dependence on imports, lower the cost of lifesaving dialysis care, and build local skills and quality jobs,” said Olivier Buyoya, IFC Regional Director for West Africa. “We are proud to join forces with a local champion in support of Senegal’s efforts towards universal health coverage, in line with the country's Vision 2050 agenda.”
This partnership reinforces IFC’s commitment to empowering Senegal’s local champions, boosting value creation and employment across strategic sectors such as healthcare, finance, manufacturing, and energy. It supports the government’s upcoming “Sunu Champion” initiative, which aims to position national enterprises to compete successfully in regional and global markets.
Strengthening healthcare, especially local pharmaceutical manufacturing, is a key strategic priority for IFC in Senegal. Over the past three years, IFC has been supporting the Institut Pasteur de Dakar in developing a state-of-the-art vaccine plant in Diamniadio. It has also partnered with Duopharm, a leading pharmaceutical distributor, to establish a new medicine manufacturing facility in the country, and taken an equity stake in Kera Health, a health startup, to expand access to quality care. These initiatives aim to boost local production, reduce reliance on imports, and improve access to essential medicines, in line with Senegal’s Vision 2050 development plan.
IFC's investment is supported by the International Development Association Private Sector Window (IDA PSW) Local Currency Facility (LCF) and Blended Finance Facility (BFF), which helps provide long-term, local currency financing not readily available in the market.
IFC’s support to CarMed also aligns with the World Bank Group’s “Health Works” vision, which aims to provide quality healthcare to 1.5 billion people by 2030.