WIC Capital Fund to boost Senegal’s snacks sector with ACASEN investment

SENEGAL – WIC Capital Fund, a capital provider that seeks to unleash the growth potential of women led businesses in West Africa, has announced plans to invest in Arachides et Cajou du Sénégal (ACASEN), a Senegalese food processing company based in Dakar.

The partnership, undertaken with the support of the United States Agency for International Development (USAID) Entrepreneurship & Investment unit, is set to enhance ACASEN’s production capacity and support its growth into a regional industry leader.

ACASEN, a family-owned business established in 1992, specializes in producing and marketing snack foods made from cashews, peanuts, potatoes, and infant flour under its Jogal Dox brand.

The company has grown from humble beginnings, starting as a venture selling roasted peanuts and cashews, into a formalized business led by its current CEO, Hermione Awounou.

The investment aims to facilitate ACASEN’s transition to an industrial-scale operation, enabling the company to meet increasing demand for its products both locally and internationally.

Speaking about the expansion, Hermione Awounou stated, “We have ambitious development plans for both domestic and international markets, where the demand for our products has consistently exceeded our production capacity. WIC Capital’s investment is a golden opportunity for ACASEN to turn these growth ambitions into reality.”

This partnership aligns with WIC Capital’s mission to empower women-led businesses in West Africa.

Évelyne Dioh, Managing Partner at WIC Capital, emphasized the potential of ACASEN.

 “We are delighted to support ACASEN in its scaling efforts. Hermione’s leadership, combined with our technical assistance, positions the company to become a regional champion in the food industry,”Dioh noted.

Dieynaba Thiam Ka, Project Manager at USAID Entrepreneurship & Investment, highlighted the broader implications of this collaboration.

“Collaborating with partners like WIC Capital allows us to contribute to transforming challenges faced by Senegalese SMEs into growth opportunities. Investments like this strengthen the local food processing industry and create avenues for sustainable economic growth.”

According to him, Senegal’s food processing sector has been identified as a key area for economic growth, with SMEs playing a vital role in driving innovation and job creation.

However, many local companies struggle with scaling due to limited access to capital and technical expertise.

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