BIDC signs credit facility with Topaz Multi-Industries

The African Development Bank Investment and Development Bank (BIDC) signed a 25 million USD revolving credit facility with Topaz Multi-Industries SA on October 13, 2026. The agreement aims to boost industrial production in Guinea, strengthen local value chains, and enhance the competitiveness of the manufacturing sector.

Topaz's role in West African manufacturing

Topaz Multi-Industries is a major player in the manufacturing sector in West Africa, serving customers across several countries in the region. Regional markets make up a significant portion of its business activities, and the new credit facility will help it source raw materials and maintain production to meet growing demand.

Focus on local value creation

This transaction highlights the BIDC's commitment to promoting local value creation and reducing reliance on raw material exports. By transforming raw materials into finished products, the facility supports the development of local supply chains and helps the region retain more economic benefits.

BIDC president emphasizes manufacturing importance

Dr. George Agyekum Donkor, President of the BIDC, stressed the importance of a competitive manufacturing sector in driving sustainable economic transformation in West Africa. He noted that access to financing helps companies expand, preserve jobs, and build economic resilience in the region.

Topaz CEO highlights growth and alignment with BIDC strategy

Roshan Ashok Vaswani, CEO of Topaz Multi-Industries, said the credit facility will allow the company to increase production capacity and better respond to market demand. The agreement aligns with the BIDC's GRO 2026-2030 Strategy, focusing on private sector development and industrial transformation.

Support for UN Sustainable Development Goals

The partnership supports several United Nations Sustainable Development Goals, including SDG 8 on decent work and economic growth, SDG 9 on industry and innovation, and SDG 17 on global partnerships for achieving the goals.