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IFc invest in retail sector

IFC To Invest In Retail Sector

IFC, a member of the World Bank Group, weekend announced that it will invest in Marina Market, Burkina Faso’s leading supermarket chain, to support the company’s operations and expansion. The €880,000 investment will create new jobs and promote modern retail infrastructure in Burkina Faso, where retail facilities of this nature are still novel.

As Burkina Faso’s economy recovers from recent political instability, the market for consumer goods is growing rapidly. Marina Market will use IFC’s support towards operating and expanding its supermarkets and warehouses in Burkina Faso.

Starting as a small family-owned store in 1989, Marina Market has since grown to operate six supermarkets in Burkina Faso, Ghana and Niger.

The four branches in Ouagadougou offer a wide range of grocery products compliant with consumer safety standards, which is still unusual in Burkina Faso, where the retail sector is dominated by street vendors. Marina Market also operates a supermarket in Bobo Bioulasso, 350 kilometers from Ouagadougou, where modern retail stores are in even shorter supply.

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