Description

IFC has an active investment of US$75 million in Hayel Saaed Anam Groupâ processing operations in Yemen (HSA Foods). According to HSA Groupâ website, HSA Foods is part of the Groupâ manufacturing activities and produces necessity foods such as flour, sugar and dairy products. It is comprised of six Yemeni companies: i) National Dairy and Food Company Taiz; ii) National Dairy and Food Company Hodaida; iii) Yemen Company for Sugar Refining; iv) Yemen Company for Flour Mills and Silos Aden; v) Yemen Company for Flour Mills and Silos Al Hodaida; and vi) Al Hodaida Flour Mills Co. Limited. IFC investment will be directed to finance the permanent working capital needs of HSA Foods. IFC has also engaged in associated advisory services in two key areas: i) energy and water efficiency solutions, and ii) gender diversity.