Carrinho Group is set to receive financing of up to US$40 million from the International Finance Corporation (IFC), the World Bank Group institution focused on private sector financing, to support the expansion of its industrial operations in Angola.
According to Forbes África Lusófona, the partnership was announced by Nelson Carrinho during the second edition of the Lusophone Africa Investment Forum. The publication reports that, based on information available on the IFC’s official website, the financing is linked to an investment programme valued at US$52.1 million.
Forbes África Lusófona says the programme includes expanding wheat milling capacity, building a warehouse at the industrial complex in Benguela, installing a central kitchen in Luanda, purchasing new trucks and implementing enterprise management software across Carrinho Group stores.
According to the same source, the investments form part of the Group’s import-substitution strategy, which has been pursued since 2016 with the aim of strengthening domestic production capacity and contributing to food security in Angola. The partnership with the IFC also includes technical assistance, training and support for developing commercial links between agricultural producers and the market.
Forbes África Lusófona further reports that, since 2021, the IFC has been providing technical assistance to Carrinho Group, with a focus on poultry production chains and cereals used in animal feed. The initiative also includes support for farmers and for micro, small and medium-sized enterprises linked to the agro-industrial value chain.
According to the publication, the IFC expects the investment to help increase domestic production of wheat flour and related products, stimulate economic activity, create employment opportunities and strengthen commercial ties with local suppliers, including smallholder farmers. The financing may also expand access by Angola’s agro-industrial sector to long-term resources for infrastructure modernisation and improved competitiveness.
29/10/2026
