Senegal's government is selling a 51% stake in the state-owned agri-industrial group Societe Nationale de Commecialisation des Oleginuex due Senegal (Sonacos).

The group is highly active in the groundnut oil market. It crushes groundnuts for oil and meal, refines the oil and trades in groundnut oil and vegetable oil products. In addition, it is involved in the manufacture of soaps and margarines.

Sonacos is Senegal's main supplier of grounut oil to the European Union and has an estimated 90% share of the domestic edible oil industry. It operates five plants in Senegal, two of which have port facilities.

The sale is part of the move towards liberalisation in West Africa and Africa as a whole of its commodity sector. West African governments are keen to attract inward investment into commodity sectors and transform their economies from being primary commodities producers to semi-finished or finished goods producers.

BACK TO TOP ^