Turkish food exporter ventures to East Africa for major port project

Tiryaki Agro, a leading Turkish agricultural exporter entered into an agreement with the International Finance Corporation (IFC) to develop a port storage facility in Djibouti, a critical trading hub in East Africa.

According to a joint statement by the two organizations on Jan. 22, IFC, a member of the World Bank Group, and Tiryaki Agro, one of Türkiye’s leading agricultural exporters, signed the agreement to enhance food trade logistics in the region.

Under the agreement, Tiryaki Agro, which manages the trade of essential commodities like wheat and grains through Djibouti, will establish the storage facility with IFC’s support. IFC will provide expertise in operational analysis, planning, stakeholder engagement, and regulatory assessment for the project.

14-year project in ‘heart of East Africa’

The initiative aims to reduce ship waiting times, boost food trade between Djibouti and its neighboring countries, and improve supply chain logistics while enhancing food security in the region.

Tiryaki Agro CEO Suleyman Tiryakioglu expressed pride in collaborating with IFC, stating, “This initiative will not only enhance our operations but also unlock Djibouti’s economic potential.”

Sergio Pimenta, IFC vice president for Africa, added, “Located at the heart of East Africa, Djibouti plays a critical role in driving sustainable, resilient, and inclusive growth across the region and the continent.”

The project builds on the long-standing partnership between Tiryaki Agro and IFC, which dates back to 2011. In December 2023, IFC supported Tiryaki Agro subsidiaries Sama Al-Manar and Manar FZCO in developing a modern agricultural industrial complex in Iraq. As part of its South-South investment strategy, IFC helps Turkish companies expand their investments in emerging markets.

Founded in 1965, Tiryaki Agro is one of the leading agricultural exporters of Türkiye, with over 70 destinations.