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Groupe EDK, Senegal’s leading home-grown modern grocery retailer, controlled by businessman Demba Ka, has secured up to €25 million (about $30 million) from the International Finance Corporation (IFC) to accelerate its nationwide retail expansion and strengthen its balance sheet.
The financing, largely structured in local currency, marks one of IFC’s most significant bets on domestic retail in Senegal and underscores growing confidence in EDK as a local champion capable of scaling formal grocery access beyond Dakar.
Scaling modern retail beyond Dakar
The financing, provided largely in local currency with a clear focus on underserved secondary cities such as Karang, Fatick and Kaolack, will support the renovation of EDK’s existing Low Price stores and the opening of up to 18 new outlets by 2027. These regions are still largely dependent on informal markets, which are frequently marked by erratic supply, volatile prices, and poor quality control.
By expanding into regional markets and peri-urban areas, the leading Senegalese conglomerate aims to bring reasonable pricing, quality groceries and more efficient supply chains closer to lower-income households. In a move to strengthen the group's financial stability, a significant amount of this landmark financing will address debt consolidation and refinancing.
Jobs, inclusion and food security
According to IFC, the expansion will generate about 2,450 jobs, including 850 in-store roles, with a strong emphasis on gender inclusion.
Beyond employment, the investment is expected to strengthen linkages with local farmers, processors and distributors, helping formalise food supply chains and reduce post-harvest losses.
“IFC’s support is a game-changer for EDK and Senegal’s retail sector,” Ka said, noting that the partnership will help the group bring quality groceries closer to families while strengthening local value chains.
Backing a local champion
Founded in 2009 by Demba Ka, Groupe EDK has grown steadily in a market long dominated by informal trade and foreign-backed chains. At a time when food inflation and pressure on purchasing power continue to be major concerns, its low-price format has positioned it as a value retailer meeting everyday demand.
The agreement is in line with Senegal's Vision 2050 and the government's Sunu Champions agenda, which aims to grow competitive domestic businesses. By supporting EDK, IFC is placing a wager that contemporary retail, when developed by regional players, can produce quantifiable social impact as well as financial gains throughout Senegal.
