(SenePlus) – Sedima, the national flagship of poultry farming and symbol of local entrepreneurial success, would be about to change hands. According to information from Jeune Afrique (JA), the founder Babacar Ngom, an emblematic figure of Senegalese employers, is considering ceding control of his group to the American giant Seaboard, already well established in the country through the Grands Moulins de Dakar (GMD) .
This strategic turnaround marks a decisive turning point for Sedima. JA recalls that “until now reluctant to open the capital of his group, Babacar Ngom […] changed his mind.”
The Sedima group, a true Senegalese success story, has experienced remarkable growth since its creation. JA reports that the company achieved a turnover of around 60 billion CFA francs in 2022 (more than 90 million euros) and is targeting 100 billion in 2025. Sedima is not only a major player in poultry farming in Senegal, but has also diversified into animal feed, flour milling and catering, notably via the KFC franchise.
However, behind this facade of success, JA reveals that the group is going through a delicate period. A financier familiar with the matter, quoted by the magazine, declared: “It is not said but it is an open secret: the company is not doing well, as evidenced by the recurring late payments to suppliers and the breakdown of contracts. stocks observed recently. This worrying situation would be the result of a combination of factors.
On the one hand, the war in Ukraine has caused a surge in the price of raw materials, in particular wheat, a crucial cereal for the poultry sector. This increase considerably reduced the group’s margins and weighed on its cash flow. On the other hand, JA points to a “poorly controlled, therefore costly, diversification of its activities”. The emblematic example cited is that of an investment in an ultra-modern but oversized slaughterhouse, which only operates at low capacity and puts a strain on the company’s accounts.
The management of the group is also called into question. JA reports that many experts in the sector speak of “the fragility of the group’s management, not up to the level of its ambitions, even though Sedima faces increasing competition across all of its activities.” A competitor, active in the production of chicks, observes: “The company has everything it takes, particularly the industrial tools, to be number one in all niches. But this is not the case today” .
The question of succession at the head of Sedima adds a layer of complexity to the situation. JA recalls that Babacar Ngom handed over the reins in 2016 to one of his daughters, Anta Babacar Ngom Diack. However, the latter launched into the race for the last presidential election at the end of 2023, leaving control of the group to a long-time executive, Seynabou Seck. This system, according to observers cited by JA, “is not enough to meet the challenges facing the Senegalese flagship”.
The possible sale of Sedima to Seaboard raises crucial questions about Senegal’s economic sovereignty. JA underlines that “in a country where there are few local champions, the future of a national flagship, which has become an emblem of the successful West African family group, is of interest well beyond the sphere of its founding family “. The magazine recalls that reports in the Senegalese press about the sale of Sedima to a foreign actor had already caused a stir in Dakar last July.
Despite these challenges, Sedima maintains ambitious growth ambitions, aiming not only to reach 100 billion CFA francs in turnover in 2025, but also to expand in Mali and Congo. The sale to Seaboard, if it materializes, could open a new chapter for this emblematic Senegalese company and redefine its role in the West African economic landscape.
JA specifies that the negotiations, carried out under cover of a confidentiality agreement, are still ongoing although on very good track. The outcome of these discussions will be closely scrutinized, not only by economic players, but also by the entire Senegalese society, for whom Sedima represents much more than a simple company: a symbol of national success and a pillar of the local economy.
