IFC Finalized $60 Million Loan for Cable Production
The funding supports industrial cable factory operations in Cameroon and Tanzania to reduce import dependence.
Updated on Oct. 6, 2026 in Corporate Finance
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On May 29, 2026, the International Finance Corporation signed a $60 million loan agreement to finance cable factory expansions. The project seeks to boost local production capacity in Cameroon and Tanzania.
Why it matters
This investment aims to strengthen local manufacturing infrastructure, reducing regional reliance on imported aluminum-based cable products from overseas markets.
The $60 million loan provides critical capital for Everwell Cameroon, where Hebei Huatong Wires and Cables Group maintains a 97% stake. The firm currently employs 85 people at its Douala factory and 300 in Tanzania.
The players
International Finance Corporation
This is a member of the World Bank Group that focuses on private sector development in developing countries.
Hebei Huatong Wires and Cables Group
This is a Chinese manufacturer of wire and cable products that is expanding its presence in Africa.
Everwell Cameroon
This is a cable manufacturing entity based in Douala that is majority-owned by the Huatong Group.
The details
The capital will be used to enhance working capital in Douala and expand production capacity across Tanzanian facilities. As part of the agreement, the company must extend its environmental and social management systems to cover all regional operations.
Timeline
September 15, 2016: Everwell Cameroon was established.
March 19, 2026: IFC approved the financing.
May 29, 2026: The loan agreement was signed.
July 10, 2026: The IFC project page was last updated.
October 5, 2026: Loan status listed as pending disbursement.
Market Dynamics
This project follows a pattern set by the World Bank Group private sector development framework to scale industrial capacity in emerging markets. Such investments reflect a broader strategy to localize manufacturing and decouple supply chains from high-cost global imports.
This deal signals long-term institutional support for regional industrial growth, which may influence supply chain stability for infrastructure projects in Africa. Stakeholders should note that the project's success depends on the expansion of local workforce training to hit production targets.
The takeaway
The expansion demonstrates how international financing can serve as a catalyst for local industrialization in developing economies. Companies operating in these sectors should prioritize standardized environmental and social management systems to qualify for future development capital.
Further reading
Learn more about industrial investment trends in the Corporate Finance section.
Source note: This article includes information reported by Business in Cameroon.
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