KEY POINTS
- Groupe EDK Senegal retail expansion will add up to 18 new stores
- IFC financing is largely structured in local currency
- The project is expected to create more than 2,400 jobs
Groupe EDK, Senegal’s largest home grown modern grocery retailer, has secured up to €25 million, about $30 million, in financing from the International Finance Corporation to accelerate its national expansion and strengthen its balance sheet.
The funding, announced on Tuesday, positions IFC among the most prominent backers of domestic retail in Senegal and signals rising confidence in EDK’s ability to scale formal grocery access beyond the capital.
Businessman Demba Ka controls the company, which operates a growing network of low-price grocery outlets. The company structured most of the financing in local currency to reduce foreign exchange risk and support long-term financial stability.
IFC said the investment aligns with its strategy of supporting local champions that deliver both commercial returns and development impact.
Expanding modern retail beyond Dakar
The Groupe EDK Senegal retail expansion will focus on underserved secondary cities including Karang, Fatick and Kaolack, areas where informal markets still dominate food distribution. These markets often face unstable supply, inconsistent pricing and limited quality controls.
The funding will support renovations of existing Low Price stores and the opening of up to 18 new outlets by 2027. The group will also use part of the financing to consolidate and refinance debt, improving liquidity and strengthening its balance sheet.
By expanding into regional and peri urban areas, EDK aims to make affordable groceries more accessible to lower income households while improving efficiency across its supply chain.
Jobs, inclusion and local food systems
According to Billionaires Africa, IFC estimates the expansion will generate about 2,450 jobs, including roughly 850 direct in store roles. The retailer plans to place strong emphasis on gender inclusion in its hiring practices.
Beyond employment, the project will deepen links with local farmers, processors and distributors, support the formalisation of food supply chains, and reduce post-harvest losses.
Ka described the partnership as a turning point for the company and the wider retail sector, saying it would help bring quality groceries closer to families while strengthening domestic value chains.
Founded in 2009, Groupe EDK has grown steadily in a sector long shaped by informal trade and foreign backed retailers. Its low price model has gained traction as Senegal faces persistent food inflation and pressure on household purchasing power.
The investment aligns with Senegal’s Vision 2050 and the Sunu Champions agenda, which seeks to scale competitive domestic businesses capable of driving inclusive growth.
