AB Voice
Wed 14th October 2026
The ECOWAS Bank for Investment and Development (EBID) has signed a $25 million revolving credit facility with Topaz Multi-Industries SA to expand industrial production in Guinea, strengthen local value chains and support manufacturing competitiveness. The agreement was signed on October 13, 2026.
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A key player in West Africa’s manufacturing sector, Topaz serves customers across the region, with regional markets accounting for a significant portion of its business. The facility will support and enhance the company’s capacity to source raw materials, sustain production and meet growing demand for its industrial and household products.
Beyond financing industrial production, the transaction reflects the Bank’s commitment to promoting local value addition and reducing dependence on export of raw materials. By supporting the transformation of raw materials into finished products, the facility will help develop local supply chains, expand manufacturing activity, and strengthen the region’s capacity to generate employment and retain more economic benefits within its economies.
Speaking at the signing ceremony, Dr George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, emphasised the importance of competitive manufacturing industries in driving sustainable economic transformation across West Africa. He noted that access to finance enables businesses to expand their operations, safeguard jobs and strengthen economic resilience. He added that the transaction demonstrates EBID’s commitment to catalysing private sector investment and supporting industrial development across the region.
Mr. Roshan Ashok Vaswani, Managing Director of Topaz Multi-Industries SA, stated that the facility would enable the company to increase production capacity, respond more effectively to market demand and contribute to Guinea’s industrial development.
The financing aligns with EBID’s Growth, Resilience and Optimisation (GRO) Strategy for 2026–2030, particularly its focus on private sector development, industrial transformation and regional value chain development. Through this partnership, EBID also reaffirms its commitment to the United Nations Sustainable Development Goals (SDGs), particularly SDG 8 on Decent Work and Economic Growth, SDG 9 on Industry, Innovation and Infrastructure, and SDG 17 on Partnerships for the Goals.