The FIR, decisive support

RESUMPTION OF PRODUCTION AT THE AÏNOU FACTORY IN TOUBA

FIR, a decisive support In Touba Bogo, the Touba Agro-Industrie plant, producer of Aïnou mineral water, has relaunched its activities after a three-year shutdown following a technical incident. Thanks to investment from the Fonds Islamique de Relance (FIR), a subsidiary of the Strategic Investment Fund of Senegal (FONSIS), its industry is now running at full speed, with plans to win back the international market. A partnership with a strong economic and social impact for Touba Bogo.

Touba Bogo is a symbolic place: it was here that Serigne Fallou Mbacké farmed to finance the construction of Touba's Grand Mosque. The site remains associated with a significant episode from the 1960s: "Here in Bogo, after receiving a bottle of zamzam as a gift from Mecca, Serigne Fallou Mbacké prayed for blessed and abundant water. He dug the well himself," recounts an emotional Serigne Ahmadou Badawi Mbacké, dressed in an elegant blue bazin, behind the factory installations. Today, his prayer seems to have been answered. Settled on this land 300 km from the holy city of Touba, Serigne Ahmadou Badawi Mbacké has become a major player in the production of drinking water. From the sandy road, you can see the vast industrial site, marked by a large blue gate. Inside, the machines are in full operation: an automated cart inflates the bottles, another machine positions them, then the filler and labeller take over. The borehole, 350 metres deep, supplies quality water, with a current minimum capacity of 8,000 bottles per day. "We have a fully automated filtration system, from drilling to bottling, with virtually zero human contact. Aïnou is a grace: in my opinion, it's the best water table in Senegal. I've worked in many industries in Africa, and in terms of energy and quality, there's nothing better," asserts Sawadogo Daouda, the plant's technical manager. The decisive intervention of the FIR In the midst of rapid growth, the plant suffered a series of technical breakdowns, resulting in a three-year shutdown. That's when FIR's decisive action came into play, in line with its mandate to finance Senegalese SMEs in financial difficulty but still with economic potential. "We were facing serious electrical problems. We would like to thank the FONSIS teams, who tried to understand why the product had disappeared from Senegalese shelves. Without preconceived ideas, they analyzed the viability of our investment plan and provided assistance in setting up a recovery plan for our plant, with the ambition of turning it into a local industrial champion. We welcome this commitment to economic and social development," emphasizes Serigne Ahmadou Badawi Mbacké. According to him, this support from the FIR is an opportunity for Senegalese companies long deprived of structuring support. Reconquering the international market Created in 2004, in the wake of the cholera epidemic and a water shortage, the plant was initially intended to secure the supply of drinking water. "We had no commercial ambitions at the outset. Revenues are also used to finance education and health," explains Serigne Ahmadou Badawi Mbacké. Today, with the successful relaunch, the aim is to cover the entire country and resume exports, notably to Mali and Guinea-Bissau, markets where the product was highly appreciated. The plant is also helping to create formal local jobs with decent wages, giving prospects to people in the surrounding villages who no longer find opportunities in the agricultural sector. "Our ambition is to be present throughout Senegal and internationally. This water is pure, soft, without chemical additives, and from a quality source. We would like to thank FONSIS for its key role in strengthening the competitiveness of our companies", he concludes. FIR: origin and challenges At the suggestion of FONSIS, and with the agreement of the Ministry of the Economy, Planning and Cooperation (MEPC), the Ministry of Finance and Budget (MFB), and the Islamic Development Bank (IDB), the Islamic Recovery Fund (FIR) was set up with an envelope of 20 billion CFA francs to finance Senegalese SMEs in financial difficulty but with economic potential. Its aim is to strengthen the resilience of SMEs, support their growth, and help maintain and create jobs. It was launched against the backdrop of the global recession caused by the Covid-19 crisis, which has particularly affected SMEs: according to the International Labour Organization, 32% of them have ceased trading, and 62% have suffered a sharp drop in sales. FIR works in partnership with institutions specializing in Islamic finance, such as Banque Islamique du Sénégal, Taysir Finance, Coris Bank and Al Rahma.

Auteur : Demba Dieng – JOURNALISTE DESK ECONOMIE – le SOLEIL, GRAND MAGAL DE TOUBA