XM-DAC-903-SII-31892
International Finance Corporation
Loan to LAPO Microfinance Bank, Nigeria
The proposed project will support the expansion of LAPO Microfinance Bank (LAPO MFB), which was created by the transformation of the microcredit activities of Lift Above Poverty Organisation into a regulated financial institution in 2010. LAPO MFB provides credit and savings services to its target market of micro entrepreneurs, most of whom are small-scale traders in urban and peri-urban areas. LAPO MFB also works with partners to provide insurance coverage and health and educational services to its clients. It currently serves over 500,000 clients across more than half of Nigerias 36 states and is expected to reach more than 2 million clients during the life of the project.
The project will have a high development impact considering that microfinance has been shown to play a major positive role in sustainable reduction of poverty and unemployment in developing countries. It will deepen financial inclusion in Nigeria, where access to finance remains extremely limited for low-income populations. IFC''s support to LAPO MFB is expected to have a strong demonstration effect and encourage the professionalization of locally-sponsored institutions, especially NGOs seeking to transform into microfinance banks.
LAPO MICROFINANCE BANK LTD
LAPO Microfinance Bank Limited LAPO Place 18, Dawson Road PMB 1729, Benin City Edo State Nigeria Tel: 234 52 882168 9, 881163
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
LAPO MFB operates in 25 states in Nigeria with a network of over 250 branches, which are divided into 13 operational regions. It is expected to continue its expansion in these states while gradually expanding to the remaining states in Nigeria over the next 5-7 years. LAPO MFB will remain focused on serving micro entrepreneurs and low-income households primarily in urban and peri-urban areas.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AC - Commercial Banking - Microfinance
Total: $5.09 million
5090000.00
5090000.00
LAPO MICROFINANCE BANK LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/31892/loan-to-lapo-microfinance-bank-nigeria
XM-DAC-903-SII-32192
International Finance Corporation
Access RSF Project
The proposed project will provide access to financial services to small and medium-size companies in Nigeria through an investment package aimed at supporting the scale-up of the SME banking operations of Access Bank Plc (Access Bank or the Bank) by providing a risk sharing facility, on a portfolio of SME distributor loans, for primarily women-owned businesses.
The project is expected to make a contribution to the financial sector and economic development in Nigeria. The expected development impact is summarized below: 1) Increase Access to Finance for underserved SMEs The project will increase Access to Finance for SMEs, including women-owned businesses that are currently underserved in Nigeria. 2) Capacity Building of SMEs The RSF project will assist the distributors to professionalize their businesses by providing relevant financial and non-financial training that will cover areas such as (a) financial management, (b) business planning, (c) inventory management as well as (d) soft skills / people management skills. 3) Demonstration Effect The Bank''s increased lending to underserved segments has the capacity to contribute to market transformation through continued lending to the target segments beyond the life of the project and demonstrate to the market that these segments can be banked profitably in Nigeria. 4) Job Creation The project will support job creation as they will provide financing to small and medium enterprises, which play a key role in economic development and employment 5) Replication Potential The RSF project has significant replication potential as the large retailing company will use this as one of its pilot projects for distributor financing, with the potential to expand the distributor partnership with banks to other countries in Sub-Saharan Africa.
RSF Access Bank
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project will focus on small and medium-size companies in Nigeria. The Bank operates throughout Nigeria with over 300 branches nationwide.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AH - Commercial Banking - SME Finance
Total: $11.13 million
11130000.00
11130000.00
RSF Access Bank
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32192/access-rsf-project
XM-DAC-903-SII-32209
International Finance Corporation
Wings SouthSouth
The proposed investment is to support the Wings Group of Nigeria (Wings or the Group) with the development of a greenfield detergent manufacturing facility in Nigeria (the Project). In addition, the Group is also planning to develop a greenfield food manufacturing facility (Food Facility) in Nigeria. Both the Project and the Food Facility will be owned majority by the Wings Groups. The Wings Group is headquartered in Indonesia where it has various operations and the Group commissioned its first powder detergent facility in Nigeria in September 2007. This facility is located at Igbessa in the OPIC Industrial Estate situated in Ogun State some 40 kilometers from central Lagos. The Project is being constructed on an adjacent 3.6 hectare site and is expected to be commissioned in August 2013. The Group is still in the preliminary stages of designing the Food Facility with limited information on the project currently available. However, Wings has extensive experience in such operations in Indonesia and is assessing various possible locations for this facility.
Expected development impacts are (i) increasing the supply of quality and affordable detergents in Nigeria, (ii) enhancing food safety and quality standards, (iii) transfer of skills, knowledge and industry best practices from an established group into Nigeria and (iv) creation of 1200 new jobs in Nigeria.
NATURAL PRIME RESOURCES NIGERIA LIMITED
Name : Nur Bambang Jokoraharjo Physical Address : 15, Commercial Road Apapa, Lagos Telephone : +234 8035016290 +628170874784 Email : mailto:bambang.jokoraharjo@wingscorp.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Name : Nur Bambang Jokoraharjo Physical Address : 15, Commercial Road Apapa, Lagos Telephone : +234 8035016290 +628170874784 Email : mailto:bambang.jokoraharjo@wingscorp.com
Nigeria
The detergent project will be located at Igbessa, Ogun State about 40 kilometers out of Nigerias commercial capital Lagos. The Food Facility project will be located at site to be identified in Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-GA - Soap and Cleaning Compound (Soap, Detergent, etc.)
Total: $30.40 million
30400000.00
30400000.00
NATURAL PRIME RESOURCES NIGERIA LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32209/wings-southsouth
Development Results
Development Result Description
Indicator
Human Resources Policies and Procedures(%)
Human Resources Policies and Procedures(%)
Expected development impacts are (i) increasing the supply of quality and affordable detergents in Nigeria, (ii) enhancing food safety and quality standards, (iii) transfer of skills, knowledge and industry best practices from an established group into Nigeria and (iv) creation of 1200 new jobs in Nigeria.
Expected development impacts are (i) increasing the supply of quality and affordable detergents in Nigeria, (ii) enhancing food safety and quality standards, (iii) transfer of skills, knowledge and industry best practices from an established group into Nigeria and (iv) creation of 1200 new jobs in Nigeria.
Indicator
Occupational Health and Safety(%)
Occupational Health and Safety(%)
Expected development impacts are (i) increasing the supply of quality and affordable detergents in Nigeria, (ii) enhancing food safety and quality standards, (iii) transfer of skills, knowledge and industry best practices from an established group into Nigeria and (iv) creation of 1200 new jobs in Nigeria.
Expected development impacts are (i) increasing the supply of quality and affordable detergents in Nigeria, (ii) enhancing food safety and quality standards, (iii) transfer of skills, knowledge and industry best practices from an established group into Nigeria and (iv) creation of 1200 new jobs in Nigeria.
XM-DAC-903-SII-32629
International Finance Corporation
Accion Ng Loan
The proposed project involves a local currency loan for IFCs own account of up to NGN400 million (~US$2.43 million) to support the expansion of the lending activities of Accion Microfinance Bank Limited (AMfB or the Company) to micro and small enterprises in Nigeria. The Company was established as a Central Bank of Nigeria (CBN) regulated microfinance bank in 2007 and has 23 branches in Lagos.
i) The project will contribute to poverty reduction by supporting economically viable activities that generate employment and income as the company expects to create additional loans. ii) Financial sector development via the provision of a local currency facility. iii) Project will expand access to credit for low income micro entrepreneurs in Nigeria, further enabling them to improve their economic livelihood.
ACCION MICROFINANCE BANK LTD
Mrs Bunmi Lawson Managing Director Accion Microfinance Bank Limited Elizade Plaza 4th Floor 322A Ikorodu Road, Anthony, Lagos Nigeria Telephone: ++23412719325-6 Facsimile: +23412719327
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Company has its headquarters in Lagos State, Nigeria and operates out of over 20 branches in the state. AMfB intends to expand its operations to other Nigeria states starting from 2015.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AC - Commercial Banking - Microfinance
Total: $2.11 million
2110000.00
2110000.00
ACCION MICROFINANCE BANK LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32629/accion-ng-loan
XM-DAC-903-SII-32859
International Finance Corporation
Azura Edo IPP
The Azura-Edo Independent Power Plant (IPP) is a 450 MW gas-fired open cycle power plant located in the North Eastern outskirts of Benin City in Edo, Nigeria (the Project). As of July 2013, the plant is estimated to cost around US$[654] million, and to achieve commercial operations by late 2016. This would make it one of the first IPPs to come online in the country in over a decade. The Azura-Edo IPP benefits from the full support of the Federal Government of Nigeria (FGN) and is currently negotiating a tripartite agreement to be signed between Azura, the Nigerian Bulk Electricity Trading PLC ("NBET") and the Nigerian Federal Ministry of Finance ("MoF") wherein the MoF will back-stop the payments owed to Azura by NBET in the event of a termination of the Power Purchase Agreement. In addition, Azura is one of 14 IPPs nominated by the MoF for participation in a PRG series proposed by the World Bank and MIGA is also considering providing political risk insurance for the Project (including breach of contract cover). IFC has been mandated to co-arrange the Development Finance Institution (DFI) debt tranche with FMO, and is expected to invest an A loan of up to US$125 million for its own account, as well as co-mobilizing the balance of required DFI funding.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
AZURA POWER WEST AFRICA LIMITED
Azura Edo IPP Contact: Nick Abolo-Tedi Email: na@azurawa.com Website: http://www.azurawa.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Azura Edo IPP Contact: Nick Abolo-Tedi Email: na@azurawa.com Website: http://www.azurawa.com
Nigeria
The Project is located to the north-east of Benin City, adjacent to an existing 450 MW state-owned thermal power plant (Ihovbor) and will benefit from proximity to: (i) the Escravos Lagos Pipeline System (ELPS), a 1 billion scfd gas trunk line currently being expanded to double its capacity; (ii) the existing Benin Main Substation and the new Benin North Substation (currently being built); and (iii) the largest and most critical node in the countrys transmission network. The Project also comprises the construction of a short high voltage connection line (c. 500 m) to the adjacent Benin North Substation, and a short pipeline spur (c. 1km) connecting the power plant to the ELPS. The site is just outside the limits of a built up area and off the Benin bypass road. It mainly consists of secondary forest, subsistence farming (slash and burn practices), plantation (palm oil, rubber), and dwellings and footpaths.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
V-AB - Gas - Thermal Power Generation
Total: $155.00 million
155000000.00
155000000.00
AZURA POWER WEST AFRICA LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/32859/azura-edo-ipp
Development Results
Development Result Description
Indicator
Organizational capacity and Management Programs(%)
Organizational capacity and Management Programs(%)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Stakeholder Engagement(%)
Stakeholder Engagement(%)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Occupational Health and Safety(%)
Occupational Health and Safety(%)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Compensation and resettlement(%)
Compensation and resettlement(%)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Direct Employment (#) - Operations and Maintenance
Employment (#)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Female Direct Employment (#) - Operations and Maintenance
Female Employment (#)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Temporary Employment (#)
Employment (#)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
Indicator
Female Temporary Employment (#)
Female Employment (#)
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
The Project is expected to have the following development impact: - Demonstration effect: supporting a pioneering IPP under the umbrella on-going sector reforms in Nigeria. This is expected to set a precedent for future IPPs not only the country but the region; - Access to energy: the project will help avert load-shedding in a country where only 20% of the electricity demand is estimated to be satisfied by the grid; - Reduction in reliance on diesel generators: private enterprises are currently suffering from expensive and environmentally unfriendly diesel generators; - Reduction in electricity costs: gas offers a lower cost option to power the country; - Viability of the gas sector: the Project will contribute to supporting gas producers, ensuring maximum utilization of gas to fuel power generation and reducing of gas flaring in the country. - Economic and Fiscal benefits: the country will also benefit from taxes from the Project and from the increased economic activity brought about by additional power supply.
XM-DAC-903-SII-33203
International Finance Corporation
AIICO Project
AIICO is a leading insurance company in Nigeria with two principal business lines: life insurance and non-life insurance. The company also has three non-core business lines: asset management, health management and pensions. It commenced operations in Nigeria in 1963 as an agency office of American Life Insurance Company (ALICO), a subsidiary of American International Group (AIG). AIICO was then incorporated, registered and licensed in Nigeria in 1970 as a wholly owned subsidiary of AIG to offer life, pension products and insurance services. Although it was originally established as a life insurance business, the Company has since diversified into other financial services through its subsidiaries: Multi-shield HMO limited (92%), AIICO Capital Limited (100%), and AIICO Pension Managers Limited (58%). The proposed investment consists of up to US$20 million in senior convertible loan to support the Companys growth in Nigeria through the expansion of its agency and retail hubs, improvement of its technology platform, and new product development.
1. Insurance Sector Development: IFC''s support for AIICO will enhance the growth and development of the Nigerian insurance sector, thus improving the sector''s contribution to the Nigerian economy. 2. Entrepreneurship and Employment: IFC''s involvement in the insurance sector through AIICO will promote growth of business activities and employment in Nigeria. AIICO plans to increase its agent count by more than 4000. 3. Social and Financial Stability: Support long-term savings and thereby reduce pressure on public social schemes. 4. Long-Term Funding Source: IFC''s support for AIICO will also facilitate the generation of long-term funds through the growth of insurance premiums, thereby buttress the country''s nascent capital markets.
AIICO INSURANCE PLC
AIICO Insurance PLC Mr. Edwin Igbiti Managing Director & CEO AIICO Plaza PC 12 Churchgate Street Victoria Island, Lagos Telephone: +234-1-279-9598
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
AIICO Insurance PLC is headquartered in Lagos, Nigeria and has 21 branches, including 6 hubs that spread across 16 cities in the country. The IFC investments will be made in AIICO insurance business lines and it will be used to fund expansion made throughout the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-JC - Composite Insurance (Life and Non-life)
Total: $20.00 million
20000000.00
20000000.00
AIICO INSURANCE PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33203/aiico-project
XM-DAC-903-SII-33473
International Finance Corporation
Boulos F&B Project
The project involves an investment by IFC of up to US$ 4.5 million debt and up to US$ 3.5 million straight equity in Boulos Food and Beverage Limited ( BFB or the Company), a greenfield company being established for the production of fruit juices, milk products and tomato paste in Nigeria. IFCs investment will support the procurement and installation of plant and machinery, procurement of delivery trucks, working capital financing and refinancing of existing debt (the Project).
The Project is expected to have the following impacts: (i) Adoption of new packaging technology with improved food safety benefits. (ii) Direct and indirect employment with the creation of 446 jobs, of which approximately 139 will be to women. (iii) MSME development through development of wholesalers, retailers, distributors. (iv) Tax revenues accruing to Government.
Boulos Group of Companies
Richard Nader Antonio Village, Km 9 Ibadan-Lagos Express Way Ibadan Oyo State Nigeria Tel: +234 17603111 Email: mailto:richard@boulosfb.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
World Bank Group InfoShop: 701 18th Street N.W., Washington D.C, USA IFC Lagos Office: Maersk House, 1st Floor, Plot 121 Louis Soloman Close, Off Ahmadu Bello Way, Victoria Island, Lagos, Nigeria IFCs website at http://www.ifc.org .
Nigeria
The Companys plant and main warehouse will be located at Antonio Village, Km 9, Ibadan-Lagos Expressway in Ibadan, with a distribution hub to be located in Lagos.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
F-BA - Soft Drink
Total: $8.00 million
4500000.00
3500000.00
4500000.00
Boulos Group of Companies
3500000.00
Boulos Group of Companies
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33473/boulos-f-b-project
XM-DAC-903-SII-33591
International Finance Corporation
ABN MF Bank Loan
AB MFB is an existing client of IFC. AB MFB received its banking license on November 3, 2008, and started operations on November 10, 2008. It offers a broad range of financial services to micro, small and medium-sized enterprises (MSMEs) and other clients in the lower income strata. A limited liability company duly incorporated in Nigeria and regulated by the Central Bank of Nigeria as a microfinance bank. The proposed project involves a local currency loan for IFCs own account of up to NGN800 million (~US$5.0 million) to support the growth of loan portfolio and expansion of AB Microfinance Bank (AB MFB) based in Nigeria.
(i)The project will enable AB MFB to grow its loan book by an additional 3,000 loans and is expected to result in an IDG count of approximately 10,000, excluding the IDG count resulting from the rights issue in November 2012; (ii)The project will also strengthen the ability of AB MFB to grow its balance sheet, transform into a national microfinance bank and position itself as one of the role models in the microfinance sector in Nigeria. (iii)IFC''s partnership with AB MFB will support its transformation from a local operator to a national operator, which will diversify its operations and strengthen its competitive advantage over other players that operate only in Lagos ; (iv)The project will indirectly create jobs by enhancing the ability of small businesses to survive, expand and provide employment opportunities ; (v)Strong demonstration effect by encouraging other FIs, especially local banks, to extend financing to the microfinance sector and thus assist in bridging the financing gap in the market ; and (vi)Potentially create positive spill-over in the microfinance sector by supporting a strong partner with good risk management and corporate governance practices.
AB MICROFINANCE BANK NIGERIA
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
AB MFB is headquartered in Lagos, Nigeria. It has a network of 12 branches throughout Lagos.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $5.00 million
5000000.00
5000000.00
AB MICROFINANCE BANK NIGERIA
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33591/abn-mf-bank-loan
XM-DAC-903-SII-33744
International Finance Corporation
Dangote Industries Limited
The Project is the DFL Project. DFL Project - means the fertilizer project undertaken by DFL for the construction and operation of a greenfield fertilizer plant with a capacity per annum of 2.6 million metric tonnes of urea, located in the Lekki Free Trade Zone in Nigeria.
The Project is expected to: (i) support the Nigerian Government''s initiative to increase fertilizer usage to 50kg/ha to improve agricultural yield; (ii) lower GHG emission as the Project will use approximately 60 million MMBTU of gas annually, of which a significant amount is expected to be associated gas which would otherwise be flared (iii) provide 5000 jobs during construction and 800 direct jobs post-construction ;(iv) send a strong message to other investors to seek similar opportunities in the manufacturing sector and areas where Nigeria has a comparative advantage over other countries once the Project is successfully implemented; (v) reduce reliance on imports, save foreign exchange, while the export sales will increase foreign exchange generation and (vi) help develop the nascent manufacturing sector in Nigeria by installing competitive new industrial capacity in the country.
DANGOTE INDUSTRIES LIMITED
Mr. Olakunle Alake Dangote Industries Limited 1 Alfred Rewane Road Ikoyi, Lagos Tel. +23412805345 Email: mailto:olakunle.alake@dangote.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Mr. Tony Esene Dangote Industries Limited 1 Alfred Rewane Road Ikoyi, Lagos Tel. +23417765488 Email: mailto:tony.esene@dangote.com
Nigeria
The Company is currently headquartered in Lagos, Nigeria. The fertilizer plant is located in the Lekki Free Trade Zone (LFTZ), some 50 km east of the center of Lagos, Nigeria. IFC is considering a US$150 million loan to DIL as finance to support development of the urea fertilizer plant. The LFTZ is some 16,500 hectares (ha) in extent and occupies the Lekki Peninsular with the Atlantic Ocean to the south and the Lekki lagoon to the north. The master plan for the entire area includes a new airport, heavy and light industrial areas, commercial and residential areas and a new sea port, amongst other specific designated use areas. For the most part though, the LFTZ is presently undeveloped aside from a few small industrial facilities and an internal road network; the fertilizer plant is the first major development and located within an area designated for heavy industrial use.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-HA - All Other Chemical Product
Total: $150.00 million
150000000.00
150000000.00
DANGOTE INDUSTRIES LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33744/dangote-industries-limited
XM-DAC-903-SII-33824
International Finance Corporation
Grooming MF Loan
The proposed project will support the expansion of Grooming People for Better Livelihood Centre (Grooming Centre), which is a company limited by guarantee that was registered by the promoters in 2007. Grooming Centre provides credit and savings services to its target market of micro entrepreneurs, who are mostly women that run small-scale trading and production businesses. Grooming Centre also works with partners to provide health and educational services to its clients. It currently serves over about 300,000 clients across 17 of Nigerias 36 states and the Federal Capital Territory and is expected to reach more than 800,000 clients during the life of the project.
1) The project will provide long-term access to finance for microenterprises, including low-cost savings services, which will have positive effects on income generation, employment and growth in Nigeria. 2) Grooming''s focus on rural/peri-urban areas will reach excluded low-income populations - who are mainly women - which other financial institutions, including most MFIs, struggle to reach sustainably. 3) By supporting Grooming Centre, the project will further encourage the formalization and regulation of microfinance in Nigeria.
GROOMING PEOPLE FOR BETTER LIVELIHOOD CENTRE
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Grooming Centre operates in 17 states and the Federal Capital Territory of Nigeria with a network of over 250 branches that are located in close proximity to its clients. It is expected to continue its expansion in these states while gradually expanding to additional states in Nigeria over the next 5 years. Grooming Centre is expected to remain focused on serving micro entrepreneurs and low-income households.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $4.10 million
4100000.00
4100000.00
GROOMING PEOPLE FOR BETTER LIVELIHOOD CENTRE
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33824/grooming-mf-loan
XM-DAC-903-SII-33877
International Finance Corporation
Jabi Lake Mall
Actis Africa Real Estate Fund 2 LP (AR2 or the Sponsor), an existing IFC client, is a closed-end private equity fund dedicated to investments in real estate companies and projects in East, West and Southern Africa, excluding South Africa. The Sponsor is undertaking a greenfield development of a shopping mall of international standard in Jabi Lake, Abuja, Nigeria (the Project). The Project will help to alleviate the supply gap of high quality retail space in Abuja. At completion the Project is expected to provide approximately 31,000 square meters of business infrastructure. Duval Properties Limited (Duval), as local partners, will co-sponsor the project by contributing land for the development; and AR2 will be the majority owner of the Project.
The Project is expected to have the following impacts: - Provision of critical business infrastructure that is currently significantly undersupplied in Africa''s second largest market and most populous nation. - Provision of a growth platform for local SMEs (manufacturers and wholesalers) in the retail value chain (owners of stores within mall) to gain access to customers and increase their sales. - Improvement of food security as a result of increased distribution outlets for local farmers leading to increased demand for local products (fresh produce in particular, but also locally processed foods). - Improvement in hygiene, health and safety standards in the food retail sector. - Serve as a catalyst for urban development in the area around the new mall. Development of better aesthetic environments and strong demonstration effect in improving commercial property standards across Nigeria. - Creation of direct and indirect employment during construction and operations. - Generation of tax revenues for the government. - Transfer of operational and environmental & social best practices, both during construction and operations
ACTIS JABI LAKE MALL DEVELOPMENT COMPANY LIMITED
Amanda Jean-Baptiste Ritu Kumar Actis, Fund Manager Actis, Fund Manager Director, Real Estate Director, Responsible Investment 2 More London 2 More London Riverside Riverside London London SE1 2JT SE1 2JT
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Broll Property Services Limited 264 Tafawa Balewa Way, CBD, Abuja Attention: Fati Sobande Tel: +(234) 9 461 9151 email: mailto:fsobande@broll.com.ng
Nigeria
The Project will be located on 5 hectares of land along Jabi Lake water front at Jabi, Federal Capital Territory, Abuja. The Project forms part of an overall master plan for the development of 35 hectares site for hospitality, residential and commercial properties.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
D-AA - Construction and Real Estate
Total: $10.00 million
9000000.00
1000000.00
9000000.00
ACTIS JABI LAKE MALL DEVELOPMENT COMPANY LIMITED
1000000.00
ACTIS JABI LAKE MALL DEVELOPMENT COMPANY LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33877/jabi-lake-mall
XM-DAC-903-SII-33951
International Finance Corporation
Eagle Eye Echo-Scan
Echo-Scan Services Limited (Echo-Scan) is a provider of medical diagnostic services in Nigeria. It currently operates a network of 7 medical diagnostic centres (DC) offering both radiology and pathology services to an average of 250,000 patients per annum of which women and expectant mothers make up 60% and 33% respectively. Key services include Ultrasound, X-ray, CT Scan, Mammogram, EEG, Endoscopy and Cath Lab. The proposed project is an investment into a new Special Purpose Vehicle (Eagle Eye Echo-Scan) which will acquire Echo-Scan and expand the network across Nigeria. The proposed project will be implemented in phases commencing with the acquisition of Echo-Scan, upgrade/expansion of capacity of the existing DC and expansion of the network to 9 DC during 2014 (the Project).
The Project is expected to have a strong development impact for a broad range of stakeholders (i) Increased availability of quality health diagnosis services (ii) Improved provision of healthcare in Nigeria - good diagnosis is key to quality healthcare (iii) Creation of direct and indirect employment for local communities during construction and operation (iv) Skill transfer in diagnosis center management for the benefit of the local workforce (v) South - south investment (from India to Nigeria) (vi) Positive impact on Nigeria''s current account, via foreign exchange saving.
ECHO SCAN SERVICES LIMITED
Dr Ayodele Cole Benson Echo-Scan Head Office Area 11, Garki, FCT Abuja, Nigeria
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Dr Ayodele Cole Benson Echo-Scan Head Office Area 11, Garki, FCT Abuja, Nigeria
Nigeria
The Project will expand Echo-Scans network of medical diagnostic services across Nigerias states, including major urban areas such as state capital cities as well as the federal capital Abuja. The network will include both the existing 7 sites as well as new sites to be built or leased. The existing sites include 3 branches in Abuja, 2 branches in Lagos, 1 in Asaba and 1 in Kaduna. These branches are already well served by taxis and buses.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
S-AC - Other Health Services
Total: $11.60 million
0.00
11600000.00
0.00
ECHO SCAN SERVICES LIMITED
11600000.00
ECHO SCAN SERVICES LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/33951/eagle-eye-echoscan
XM-DAC-903-SII-34149
International Finance Corporation
Diamond Agri JV
IFC proposes to provide Diamond Bank PLC (Diamond Bank or the Bank) with an investment package comprising of (i) US$50 million senior loan to strengthen the Banks SME portfolio; (ii) US$20 million senior loan dedicated to grow the Banks agribusiness loan portfolio; and (iii) agribusiness Advisory Services to build capacity for the Banks agribusiness strategy (the Project).
The developmental impact for the Project includes: (i)Lending to the agribusiness sector: The project will support Diamond Bank to better assess risks associated with agribusiness; (ii) Access to finance for SMEs: The Project will enable the Bank to ramp up lending to the sector and increase access to finance for SMEs; (iii)Financial Inclusion: The project will generate a range of social and economic benefits, including increased rural incomes and livelihood, and increased food security; and (iv)Demonstration Effect: The Project will demonstrate the economic and social impact of agri-lending to the banking sector.
DIAMOND BANK PLC
Abdulrahman Yinusa Executive Director/ Chief Financial Officer Diamond Bank Plc PGDs Place, Plot 4, Block V Oniru Estate Victoria Island, Lagos, Nigeria (+234) 1 270 1500 Email: mailto:abyinusa@diamondbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
World Bank Group InfoShop: 701 18th Street N.W., Washington D.C, USA IFC Lagos Office: Maersk House, 1st Floor, Plot 121 Louis Soloman Close, Off Ahmadu Bello Way, Victoria Island, Lagos, Nigeria IFCs website at http://www.ifc.org .
Nigeria
The Bank is headquartered in Lagos, Nigeria with presence in 255 locations across the country and subsidiaries in Republic of Benin, Cote dIvoire, Togo, Senegal and London.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $70.00 million
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34149/diamond-agri-jv
XM-DAC-903-SII-34220
International Finance Corporation
FCMB III Project
FCMB Limited is seeking to raise a senior loan of up to US$100 million i) to fund a pipeline of infrastructure and industrial projects, ii) to introduce energy efficiency lending and iii) to grow its small and medium enterprises (SMEs) business.
1. Reduce the infrastructure funding gap in Nigeria. 2. Increase access to finance for SMEs in Nigeria. 3. Demonstrate the economic and social impact of infrastructure, SMEs and climate change finance in Nigeria.
FIRST CITY MONUMENT BANK LIMITED.
First City Monument Bank PLC Mr. Ladi Balogun Managing Director & CEO Primrose Towers, 17A Tinubu Street, P.O. Box 9117, Lagos State, Nigeria Telephone: +234-1-279-3030
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
FCMB Limited is headquartered in Lagos, Nigeria with 265 branches across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $50.00 million
50000000.00
50000000.00
FIRST CITY MONUMENT BANK LIMITED.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34220/fcmb-iii-project
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
1. Reduce the infrastructure funding gap in Nigeria. 2. Increase access to finance for SMEs in Nigeria. 3. Demonstrate the economic and social impact of infrastructure, SMEs and climate change finance in Nigeria.
1. Reduce the infrastructure funding gap in Nigeria. 2. Increase access to finance for SMEs in Nigeria. 3. Demonstrate the economic and social impact of infrastructure, SMEs and climate change finance in Nigeria.
XM-DAC-903-SII-34399
International Finance Corporation
GTB VI Project
Guaranty Trust Bank Plc (GTBank or the Bank) was incorporated and licensed to operate a commercial bank in 1990. In 1996, the Bank became a public company and was listed on the Nigerian Stock Exchange (NSE). In 2001, GTBank was issued a universal banking license from the CBN, allowing it to offer a broad array of financial services, including insurance, asset management, company registration, and mortgage activities. The Bank issued a Global Depositary Receipt (GDR) and was listed on the London Stock Exchange (LSE) in 2007. In 2011, the Bank divested from its insurance, asset management, and company registrar subsidiaries in line with Central Bank of Nigeria directives mandating banks to divest its holding of non-banking subsidiaries. In 2012, GTBank completed the divestment process of its non-banking subsidiaries by exiting from GT Homes, a primary mortgage institution. Today, GT Bank is a leading full service commercial bank in Nigeria with a network of 227 branches, 49 e-branches, and 1,097 ATMs across Nigeria and offering a wide range of banking and financial services. The Bank has 9 overseas subsidiaries and a presence in 8 African countries. IFC will offer GTBank a senior loan of up to US$250 million whose purpose will be to support the Banks medium to long term funding requirements.
The financing is expected to have the development impact outlined below: 1) Confidence in the Nigerian Banking Sector: GTBank has a strong brand and is widely associated with transparency and disclosure, and financial stability and strength. An investment of this magnitude will send positive signals and improve market confidence in the Nigerian financial sector, including with international investors; 2) Leverage on scope and reach of GTBank''s business into underserved market segments: GTBank is a well diversified financial institution with a complementary focus in sectors that drive economic growth and job creation such as infrastructure, manufacturing, hospitality, agribusiness and SMEs. 3) Demosntration effect: mobilization of funding for the project will encourage other financial institutions and companies to raise capital through syndication thereby deepening access to growth capital
GUARANTY TRUST BANK PLC
Mr. J.K.Olusegun Agbaje Managing Director Guaranty Trust Bank Plc Plot 635, Akin Adesola Street Victoria Island, Lagos Nigeria Tel: +234 (1) 4480740-9
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
International Finance Corporation 1st Floor Atlantic House 121 Louis Solomon Close Victoria Island, Lagos Nigeria Tel: +234 (1) 279 9400
Nigeria
The Bank is headquartered in Lagos, Nigeria and has 227 branches and 49 e-branches across Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $100.00 million
100000000.00
100000000.00
GUARANTY TRUST BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34399/gtb-vi-project
XM-DAC-903-SII-34450
International Finance Corporation
7 Energy Project
Seven Energy International Limited is a Nigeria and UK based oil and gas exploration and production (E&P) and midstream company (Seven Energy or the Company). It is one of the few E&P companies in Nigeria with a focus on developing and commercializing gas which was historically stranded or flared, and supply it to Nigeria''s domestic market for power generation and industrial consumption. IFCs investment will contribute in funding the Companys general corporate purposes including potential acquisitions in both midstream and upstream in Nigeria, and capex programs such as a planned 2014 project between Seven Energy and an International Oil Company (IOC) to eliminate and monetize approximately 23mmcf per day of flared gas. Seven Energys strategy has been to grow its business primarily through (i) exploiting its existing asset base, (ii) establishing gas pipelines, processing, and transportation systems within its areas of operation through which it can transport production to the expanding Nigerian domestic gas and power market, (iii) negotiating supply agreements with upstream gas producers, (iv) reaching sales agreements with power and industrial producers, and (v) completing strategic acquisitions of attractive oil and gas assets. Seven Energy currently has two core areas of operation in the South East and North West onshore Niger Delta. The South East Niger Delta has significant discovered but undeveloped gas fields, with some installed gas demand and significant growth potential, but very limited gas processing and distribution infrastructure. The North West Niger Delta is characterized by mature oil and gas fields, with pipeline infrastructure in place, but with significant additional undeveloped gas reserves and a shortage of gas processing capacity. The Companys expansion plan for the next few years is to strengthen its unique position as a key midstream player in the south-eastern part of Nigeria. This plan includes both upstream and midstream oil and gas activities.
Greater availability of gas is one of the key ingredients for increasing power generation in Nigeria, a country that suffers significantly from lack of electricity and where only about 50% of the population has access to electricity from the grid. The quality of service is generally poor and lack of electricity has put a constraint on the country''s economic growth. There is about 6 GW of existing capacity in Nigeria, of which only about 4.5 GW is operating. The Federal Government of Nigeria''s ambitious sector reforms have recently met some major milestones, amongst which the privatization of 6 Generation Assets (GENCOs) and 10 Distribution Assets (DISCOs), the Transmission Company of Nigeria''s management that has been given to Manitoba Hydro International and the Gas Aggregator that has been created and is operating. Overall, it is estimated that generation capacity will increase to 15 GW in 2020 (mainly thermal). If supplied, gas consumption by the power sector could reach 1.9 Bcf/d in 2015 and 2.6 Bcf/d by 2020. Gas production and transportation is critical to the energy mix, and Nigeria harbors significant gas reserves. Seven Energy''s midstream capacity will be sufficient to supply gas for up to 2,15 GW of power capacity, which represents more than a third of the country''s current capacity. In addition to supplying gas to the Ibom Power Plant (IPP), the Company will directly supply the Calabar National Integrated Power Project (NIPP), a plant with a capacity of about 560 MW. Moreover, IFC funding would also contribute to a planned 2014 project between Seven and an IOC to eliminate approximately 23mmcfd of IOC flared gas. The project will divert the gas to Sevens Uquo gas facility where it will be stripped of liquids and the residual gas blended with Sevens gas, adding to Seven''s gas and liquids steams, in addition to eliminating the flared gas. Finally, the project will generate direct jobs and indirect jobs (through power provided to the grid and to industries including a fertilizer plant in the Akwa Ibom state), as well as government revenues.
SEVEN ENERGY INTERNATIONAL LIMITED
Bruce BurrowsChief Financial OfficerSeven Energy International Limited4th Floor, 6 Chesterfield Gardens London W1J 5BQSwitchboard: 020 7518 3850
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Gary Bush Seven Energy7 Anifowose StreetVictoria IslandLagosNigeria.Main line: +234 (0) 1 - 277 0600Fax: +234 (0) 1 - 277 0644
Nigeria
The Project will be located in the South Eastern region in the Akwa Ibom and Cross River states of Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
B-AB - Oil and Gas Production (Includes Development)
Total: $75.00 million
0.00
75000000.00
0.00
SEVEN ENERGY INTERNATIONAL LIMITED
75000000.00
SEVEN ENERGY INTERNATIONAL LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/34450/7-energy-project
XM-DAC-903-SII-35697
International Finance Corporation
CAPITAL ALLIANCE PRIVATE EQUITY FUND IV LIMITED
The proposed project is for an equity investment of US$40.0 million in Capital Alliance Private Equity IV (CAPE IV or the Fund), a 10 year closed-end private equity fund targeting growth companies in Nigeria and other countries along the Gulf of Guinea. The Fund is seeking to raise $600 million total committed capital. IFC invested in CAPE I in 1999 as part of its strategy to support the creation and growth of the private equity industry in Nigeria and in Africa. IFC has since invested in CAPE II, CAPIC and CAPE III funds raised by the sponsor.
The Fund is expected to have strong development impact through:
(i) Providing risk capital to growing companies which are the main drivers of job creation and preservation;
(ii) Ensuring appropriate ESG structures are in place and providing hands-on monitoring and guidance to the management of investee companies; and
(iii) Investing significant amount of capital in IDA countries.
CAPITAL ALLIANCE PRIVATE EQUITY FUND IV LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Fund is a private limited life company registered under the laws of Mauritius. The Fund plans to invest up to 75% in Nigeria and up to 25% outside Nigeria into other countries along the Gulf of Guinea.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
P-BA - Growth Equity Fund
Total: $40.00 million
40000000.00
40000000.00
CAPITAL ALLIANCE PRIVATE EQUITY FUND IV LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35697/capital-alliance-private-equity-fund-iv-limited
XM-DAC-903-SII-35725
International Finance Corporation
IHS Nigeria 2
The project comprises an expansion of the operations of IHS Nigeria Plc (IHSN or the Company) through the acquisition and upgrade of 2,705 towers in a Buy and Lease Back (BLB) arrangement with Etisalat Nigeria (Etisalat) and the construction of Build to Suit towers contracted for Mobile Network Operators (MNOs) in Nigeria. IHS Nigeria is an existing IFC client.
(i) Expand Mobile Telecommunications Access as collocation reduces the incremental cost of expanding service for all carriers thereby allowing them to serve remote and economically less developed areas. (ii) Increased Competition as enabling collocation on tower sites previously owned by MNOs will lower barriers to entry for smaller and newer mobile phone and wireless operators through access to leased tower facilities compared to building their own. (iii) Contribute to Mitigating Environmental Impact and Climate Change as the Company will provide a cost effective opportunity for operators to lower their carbon emission as well as physical footprint by sharing infrastructure.
IHS NIGERIA LIMITED
Mr. Rajiv Jaitly Managing Director IHS Nigeria Plc 19 Bishop Aboyade Cole Street Victoria Island Lagos, Nigeria Telephone: +234 1 280 0790 Fax: +234 1 2800791
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Mr. Rajiv Jaitly Managing Director IHS Nigeria Plc 19 Bishop Aboyade Cole Street Victoria Island Lagos, Nigeria Telephone: +234 1 280 0790 Fax: +234 1 2800791
Nigeria
The Project will be located in the Federal Republic of Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
N-AD - Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Total: $50.00 million
50000000.00
50000000.00
IHS NIGERIA LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35725/ihs-nigeria-2
XM-DAC-903-SII-35877
International Finance Corporation
Seven Energy Bond
Seven Energy International Limited, an existing IFC client (project 34450), is a Nigeria and UK based oil and gas exploration and production (E&P) and midstream company (Seven Energy or the Company). It is one of the few E&P companies in Nigeria with a focus on developing and commercializing gas that was historically stranded or flared, and supplying it to Nigeria''s domestic market for power generation and industrial consumption. IFCs commitment to provide an anchor investment in the companys inaugural bond issue will help the company mobilize investors and successfully issue the bond. The bond proceeds will be used, among other things, to retire existing liabilities and continue funding the construction of the Companys gas pipeline network.
Greater availability of gas is one of the key ingredients for increasing power generation in Nigeria, a country that suffers significantly from lack of electricity and where only about 50% of the population has access to electricity from the grid. The quality of service is generally poor and lack of electricity has put a constraint on the country''s economic growth. There is about 6 GW of existing capacity in Nigeria, of which only about 4.5 GW is operating. It is estimated that generation capacity will increase to 15 GW in 2020 most of which from thermal generation. Gas production and transportation are critical to the energy mix, and Nigeria harbors significant gas reserves. In addition to supplying gas to the Ibom Power Plant, the Company will directly supply the Calabar National Integrated Power Project, a plant with a capacity of about 560 MW. Moreover, IFC funding is proposed to contribute to a potential 2014 project between Seven Energy and an IOC to eliminate approximately 23mmcfd of IOC flared gas, diverting gas to Seven Energy''s Uquo gas facility where it will be stripped of liquids and the residual gas blended with Seven Energy gas. Finally, the project will generate direct jobs and indirect jobs (through power provided to the grid and to industries including a fertilizer plant in the Akwa Ibom state), as well as government revenues.
SEVEN ENERGY INTERNATIONAL LIMITED
Bruce Burrows Chief Financial Officer Seven Energy International Limited 4th Floor, 6 Chesterfield Gardens London W1J 5BQ Switchboard: 020 7518 3850
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Gary Bush Seven Energy 7 Anifowose Street Victoria Island Lagos Nigeria. Main line: +234 (0) 1 - 277 0600 Fax: +234 (0) 1 - 277 0644
Nigeria
The Project will be located in the South Eastern region in the Akwa Ibom and Cross River states of Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
B-AB - Oil and Gas Production (Includes Development)
Total: $50.00 million
50000000.00
50000000.00
SEVEN ENERGY INTERNATIONAL LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/35877/seven-energy-bond
XM-DAC-903-SII-36007
International Finance Corporation
Hygeia 2014
Hygeia Nigeria Ltd. (HNL or Hygeia) is Nigerias leading and largest integrated healthcare provider offering both hospital and health management services. As of today, HNL operates 2 hospitals and 3 clinics in Lagos, a health maintenance organization (HHMO), a Community Health Plan (HCHC) for low income families and a Foundation (HNLF) for capacity building of medical professionals in disease programs including HIV/AIDS. HNL is seeking to raise $16.1m to upgrade existing hospitals and expand its operations. $49.7m will also be raised for the acquisition of secondary shares from existing shareholders. The purpose of the project is to increase access to good quality and affordable healthcare services in Nigeria by helping Hygeia to expand its activities and achieve optimal operational efficiency.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
HYGEIA NIGERIA LIMITED
Lanre Tunji-Sanusi +234 1 631 3803 mailto:lsanusi@hygeiagroup.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Hygeia Nigeria Limited 8 Marine Road, Apapa, Lagos Nigeria
Nigeria
The Project is located in Lagos, Nigeria and consists of several existing healthcare facilities based in urban areas.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
S-AB - Medical and Diagnostic Services
Total: $12.40 million
12400000.00
12400000.00
HYGEIA NIGERIA LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/36007/hygeia-2014
Development Results
Development Result Description
Indicator
Payment to Government
Annual Payments ($M)
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
Indicator
Domestic Purchases ($M) and (MT)
Current Purchases ($M)
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
Indicator
Patients Served (#)
Actual Inpatients (#)
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
Indicator
Patients Served (#)
Actual Outpatients (#)
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
Indicator
Direct Employment (#) - Operations and Maintenance
Employment (#)
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
Indicator
Female Direct Employment (#) - Operations and Maintenance
Female Employment (#)
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
i) Quality of healthcare: One of the co-investors alongside IFC is a strategic investor who will work with the company to improve service provision, professionalize management and improve quality control systems in Hygeia thereby increasing the availability of quality healthcare in Nigeria. Furthermore, as the only Nigerian hospital to be accredited by Joint Commission International (JCI), an investment in Hygeia would also support an increase in the quality of services available in Nigeria. ii) Access to healthcare: The expansion of Hygeia''s bed capacity and service offering will help address the vast shortage of healthcare provision in Nigeria and allow patients to access appropriate treatment in Nigeria rather than abroad. Additionally, the project is expected to increase the capacity of the HMO to expand its enrollee base, providing greater access to healthcare in the country. iii) Affordability: The investment is expected to result in operational efficiencies lowering costs which could be passed on to customers thereby enabling more affordable and quality healthcare. iv) Employment: The business expansion will result in the creation of skilled jobs in healthcare professions as well as related lower skilled jobs. v) Demonstration effect: The increasing success of Hygeia will demonstrate the commercial viability of investing in healthcare providers in Nigeria and will attract further capital to the sector.
XM-DAC-903-SII-36229
International Finance Corporation
LAPO MFB II
The proposed project consists of a USD30 million funding envelope that will support the expansion of LAPO Microfinance Bank (LAPO MFB), an existing investment partner of IFC. LAPO MFB was created through the transformation of the microcredit activities of Lift Above Poverty Organisation into a regulated financial institution in 2010. As the leading LAPO MFB provides credit and savings services to its target market of micro entrepreneurs, most of whom are small-scale traders in urban and peri-urban areas. LAPO MFB also works with partners to provide insurance coverage and health and educational services to its clients. It currently serves over 1.2 million clients and aims to reach 5 million clients during the life of this project.
The project is expected to have a strong development impact by expanding access to credit for low-income micro entrepreneurs. Nigeria was identified as a priority country for the World Bank''s Universal Financial Inclusion initiative. The project will directly increase access to credit for micro-entrepreneurs and support LAPO''s expansion plans across Nigeria. As the leading MFB in Nigeria, LAPO and its continued partnership with the IFC is expected to deepen the level of professionalism among local institutions and lead them to follow LAPO''s transformational model towards a microfinance bank. Also, IFC''s long-term funding will support the continued institutional development of the company and help broaden the mix of loan products available to its clients.
LAPO MICROFINANCE BANK LTD
LAPO Microfinance Bank Limited LAPO Place 18, Dawson Road PMB 1729, Benin City Edo State Nigeria Tel: 234 52 882168 9, 881163
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
LAPO MFB operates in 26 states in Nigeria with a network of over 370 branches, which are divided into 7 operational zones. It is expected to continue its expansion in these states while gradually expanding to the remaining states in Nigeria over the next 5-7 years. LAPO MFB will remain focused on serving micro entrepreneurs and low-income households primarily in urban and peri-urban areas.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AC - Commercial Banking - Microfinance
Total: $10.10 million
10100000.00
10100000.00
LAPO MICROFINANCE BANK LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/36229/lapo-mfb-ii
XM-DAC-903-SII-36416
International Finance Corporation
Zenith Bank SSL
Zenith Bank is a leading Nigerian bank which commenced operations in 1990 and became publicly listed on the Nigerian Stock Exchange in 2004. The bank is one of Nigeria''s largest banks by total assets and provides an array of commercial banking services to corporate, commercial and individual customers within and outside Nigeria. IFC proposes to provide Zenith Bank with a Straight Senior Loan of up to US$ 100 million to support long-term lending including to infrastructure projects.
1. Inadequate infrastructure (especially in the power sector) is a key impediment to private sector development and improved livelihood in Nigeria. This project will contribute to reduce the funding gap for infrastructure projects. 2. The project supports the infrastructure sector which is as a major growth segment of the Nigerian economy with significant potential for creation of direct and indirect jobs.
ZENITH BANK PLC
Mr Ebenezer Onyeagwu Executive Director Zenith Bank Plc Plot 87 Ajose Adeogun Street, Victoria Island, Lagos. Nigeria +23412787000
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
N/A
Nigeria
Zenith is headquartered in Lagos and has over 350 branches across Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $100.00 million
100000000.00
100000000.00
ZENITH BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/36416/zenith-bank-ssl
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
1. Inadequate infrastructure (especially in the power sector) is a key impediment to private sector development and improved livelihood in Nigeria. This project will contribute to reduce the funding gap for infrastructure projects. 2. The project supports the infrastructure sector which is as a major growth segment of the Nigerian economy with significant potential for creation of direct and indirect jobs.
1. Inadequate infrastructure (especially in the power sector) is a key impediment to private sector development and improved livelihood in Nigeria. This project will contribute to reduce the funding gap for infrastructure projects. 2. The project supports the infrastructure sector which is as a major growth segment of the Nigerian economy with significant potential for creation of direct and indirect jobs.
XM-DAC-903-SII-36982
International Finance Corporation
WCSS Zenith
The project is part of a short-term liquidity facility for up to US$600 million to existing IFC clients in Nigeria. The objective of the facility is to help address an acute foreign exchange (FX or USD) liquidity shortage in the country by availing short-term loans in USD to the banks for settling their clients trade import bills and provide trade-related working capital loans to new and existing client companies. The facility will be geared towards providing import financing for largely consumer food staples, pharmaceuticals and medicines as well as agri inputs and industrial raw materials. Under the facility, a US$150 million loan will be made available to Zenith Bank PLC, of which US$45 million will be for IFCs own account and the remaining US$105 million will constitute mobilized funding through B loans, parallel loans and/or guarantees.
Improved Access to Credit: Due to the FX liquidity situation, the project will increase access to finance for credit-constrained enterprises to meet trade-related working capital requirements. By directly financing the short term FX liquidity needs of local banks to support trade and foreign currency working capital finance needs, the facility will support local enterprises, including SMEs, and will have a positive impact on economic activity in Nigeria. Job Preservation and Employment Continuation: The facility, by contributing to bridging the FX liquidity gap, is expected to have a positive impact on job preservation in import-oriented businesses. Financial support to corporates and SMEs is, thus, critical to employment preservation in adverse market conditions. Hence, the facility will have a direct impact on job preservation and employment generation through the banks'' financing of private enterprises.
ZENITH BANK PLC
Michael Anyimah Multilateral Group Zenith Bank Plc Zenith Heights, 87 Ajose Adeogun Street, Victoria Island, Lagos, Nigeria Tel: +234-1-2782328 Fax: Email: mailto:Michael.anyimah@zenithbank.com Website: http://www.zenithbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Zenith Bank Plc Zenith Heights, 87 Ajose Adeogun Street, Victoria Island, Lagos, Nigeria
Nigeria
Zenith Bank is headquartered in Lagos, Nigeria and has over 350 branches across the country. Investments can be made throughout the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/36982/wcss-zenith
XM-DAC-903-SII-37143
International Finance Corporation
Promasidor Nigeria Limited
Proposed investment is a corporate financing A loan to support the modernization, expansion, diversification of Promasidor Nigeria Limited (the Company or PNG), a fast moving consumer goods (FMCG) food processing company in Nigeria.
(i) Several hundred indirect jobs are expected to be created through the value chain as the Company will distribute its products through hundreds of SME wholesalers, semi-wholesalers and retailers. (ii) Increased availability and access to quality, more affordable nutritious food products for Base of Pyramid consumers in Nigeria, thereby improving their diet and nutrition. (iii) Developing local supply chains for raw material sourcing in Nigeria.
PROMASIDOR NIGERIA LIMITED
Mr. Anders EinarssonFinance Plot 3A&B Cowbell Way, Isolo Industrial Estate Lagos, Nigeria Mobile: +234 (0) 803 402 00 22Phone: +234 (1) 270 77 72 - 4Email: mailto:aeinarsson@promasidor-ng.com http://www.promasidor.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Plot 3A&B Cowbell Way, Isolo Industrial Estate Lagos, Nigeria
Nigeria
The Company is located at Plot 3A & B Cowbell Way in Isolo, Lagos, Nigeria, in an industrial zone on a 65,000 square meters parcel of land. The new investments would be made in this existing site.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
F-AI - Other Food
Total: $25.00 million
25000000.00
25000000.00
PROMASIDOR NIGERIA LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37143/promasidor-nigeria-limited
XM-DAC-903-SII-37832
International Finance Corporation
Grooming II
The proposed project will support Grooming People for Better Livelihood Centre (Grooming Centre), a microfinance institution targeting micro entrepreneurs. More than 90% of Groomings clients are female borrowers that run small-scale trading and production businesses. The project will allow Grooming to fund its expansion of active borrowers (all of which are microenterprises) across Nigeria significantly by the end of 2019.
1) Access to Finance: The project will provide long-term access to finance for microenterprises, including low-cost savings services, which will have positive effects on income generation, employment and growth in Nigeria. 2) Financial Inclusion: Grooming''s focus on rural/peri-urban areas will reach excluded low-income populations - who are mainly women - which other financial institutions, including most MFIs, struggle to reach sustainably. 3) Access to Health and Education: Grooming''s partnerships with health and education services providers are expected to increase access to education and services such as cancer screenings and maternity advice. 4) Financial sector development: By supporting Grooming Centre, the project will further encourage the formalization and regulation of microfinance in Nigeria.
GROOMING PEOPLE FOR BETTER LIVELIHOOD CENTRE
Grooming CentreNo 3, Tina Chris StreetIyana Ejigbo, Lagos State, NigeriaTelephone: +234-815 098 9340
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Grooming CentreNo 3, Tina Chris StreetIyana Ejigbo, Lagos State, Nigeria
Nigeria
Grooming Centre operates in 23 states and the Federal Capital Territory of Nigeria with a network of over 410 branches that are located in close proximity to its clients. It is expected to continue its expansion in these states while gradually expanding to additional states in Nigeria over the next 5 years. Grooming Centre is expected to remain focused on serving micro entrepreneurs and low-income households.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $4.76 million
4760000.00
4760000.00
GROOMING PEOPLE FOR BETTER LIVELIHOOD CENTRE
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/37832/grooming-ii
XM-DAC-903-SII-38096
International Finance Corporation
Indorama Port
The Project (Indorama Port) consists of the development of a multi-purpose port terminal at Onne in Port Harcourt, Rivers State, Nigeria (the Project), which will support the export of fertilizer produced by Eleme Fertilizer, an existing IFC investee company. Indorama Port is a joint venture between Indorama Eleme Petrochemicals Limited (Eleme Petrochemicals) and local partner Oil and Industrial Services Ltd. (OIS or the JV partner). Part of Indorama Ports berth will handle the bulk urea which will be operated by Indorama and the other part a dry material area to load items servicing the off shore oil industry (operated by the JV partner). The port terminal will have capacity to handle up to 2 million tons of dry bulk Urea, 12,000 twenty-foot equivalent units (TEU) of containers and 150,000 of break-bulk cargo per annum; it will be ISPS code compliant. Eleme Fertilizer is a nitrogenous Fertilizer Complex at the existing Eleme Petrochemicals site in Port-Harcourt, Nigeria, and includes an Ammonia plant, a Urea production plant, supporting boundary infrastructure, and an 84km gas pipeline from the gas suppliers facilities; total plant capacity is 2,300 metric tons per day (MTPD) of ammonia, and 4,000 MTPD of granulated urea. Eleme Fertilizer will supply the domestic fertilizer market in Nigeria, and also export directly into the international urea market. Both Indorama Port and Eleme Fertilizer are expected to be completed and commence operations by April 2016. IFC plans to support the Project by providing senior debt and mobilizing third-party funding.
The expected development benefits from the project are the following: (i) The Project will help facilitate exports of fertilizer produced by Eleme Fertilizer to both Sub-Saharan and international markets; thereby generating foreign exchange earnings for Nigeria particularly critical at this point owing to the collapse of global commodity prices which has hit Nigeria particularly hard. (ii) The Project will promote economic diversification of the economy from its over reliance on crude oil by supporting domestic value addition to key natural resource (i.e. natural gas). (iii) Employment: Creation of direct and indirect employment opportunities. (iv) Demonstration Effect: The project is expected to have a positive signal for other foreign investors on the government''s commitment for economic diversification.
OIS INDORAMA PORT LIMITED
Rahul Mohan MDs Office Indorama Eleme Petrochemicals Ltd Eleme Petrochemicals Complex, Eleme East -West Expressway, Eleme PMB-5151, Port Harcourt, Rivers State Nigeria mailto:mailto:rmohan@indorama.com.ng Mobile: +234: 8052022395
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
N/A
Nigeria
The Project is located at Onne in Port Harcourt, Rivers State, in the South-Southern region of Nigeria. Project development has involved 6.2 Ha of land reclamation; construction of a 295m long quay with two berths, 2.6 Ha container yard, warehouses; buildings, workshop, utility services, roads and boundary wall; and, the supply, installation and commissioning of the bulk-handling system (truck unloading station, elevator and conveyors, transfer towers, ship loader, etc.).
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
E-BB - Port and Harbor Operations
Total: $52.50 million
52500000.00
52500000.00
OIS INDORAMA PORT LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/38096/indorama-port
Development Results
Development Result Description
Indicator
Direct Employment (#) - Operations and Maintenance
Employment (#)
The expected development benefits from the project are the following: (i) The Project will help facilitate exports of fertilizer produced by Eleme Fertilizer to both Sub-Saharan and international markets; thereby generating foreign exchange earnings for Nigeria particularly critical at this point owing to the collapse of global commodity prices which has hit Nigeria particularly hard. (ii) The Project will promote economic diversification of the economy from its over reliance on crude oil by supporting domestic value addition to key natural resource (i.e. natural gas). (iii) Employment: Creation of direct and indirect employment opportunities. (iv) Demonstration Effect: The project is expected to have a positive signal for other foreign investors on the government''s commitment for economic diversification.
The expected development benefits from the project are the following: (i) The Project will help facilitate exports of fertilizer produced by Eleme Fertilizer to both Sub-Saharan and international markets; thereby generating foreign exchange earnings for Nigeria particularly critical at this point owing to the collapse of global commodity prices which has hit Nigeria particularly hard. (ii) The Project will promote economic diversification of the economy from its over reliance on crude oil by supporting domestic value addition to key natural resource (i.e. natural gas). (iii) Employment: Creation of direct and indirect employment opportunities. (iv) Demonstration Effect: The project is expected to have a positive signal for other foreign investors on the government''s commitment for economic diversification.
XM-DAC-903-SII-39519
International Finance Corporation
Accion Nigeria Loan 2
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } This project aims at supporting the expansion of the lending activities of Accion Microfinance Bank Limited (AMfB) to micro and small enterprises in Nigeria. The proposed investment consists of a local currency loan for IFCs own account of up to NGN1.0billion (~US$3.2million).
i. Job creation: By expanding access to funding sources to Accion's clients, the project will facilitate employment opportunities and poverty alleviation; and
ii. Institutional development: IFC's long term funding will support the continued institutional development of the Bank, help manage balance sheet risk and broaden the mix of loan products available to its clients.
ACCION MICROFINANCE BANK LTD
Accion Microfinance Nigeria Adetunji Fasina Deputy CFO afasina@accionmfb.com http://www.accionmfb.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
table, .k-table{ border-collapse:collapse; width:100%; table-layout:fixed; margin-bottom: 15px;} .k-table, .k-table td, table, table td {outline: 0;border: 1px solid #000; } .k-table td, table td { padding: 5px; } The Bank operates through 49 branches in five states (Lagos, Ogun, Oyo, Rivers and Anambra).
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $3.27 million
3270000.00
3270000.00
ACCION MICROFINANCE BANK LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39519/accion-nigeria-loan-2
XM-DAC-903-SII-40420
International Finance Corporation
Eleme Fertilizer II
The Project involves the expansion of an existing fertilizer facility located in Port Harcourt, Nigeria. The Project will double the capacity of the existing plant from 1.4 million tons per annum to 2.8 million tons per annum and is owned by Indorama Eleme Fertilizer & Chemicals Limited ("IEFCL" or the "Company"), a long time repeat IFC client. The Project is expected to cost US$1.1 billion and will be funded with an IFC A Loan of up to US$120 million, a MCCP loan of US$50 million, and up to US$830 million in B Loan syndication and parallel loans along with US$100 million equity subscription by the shareholders.
The Project will promote (i)economic diversification in Nigeria; (ii)direct and indirect employment; (iii)strong environmental sustainability by redirecting polluting wasted flared gas to productive use and introduce best in class energy and resource efficient technology; (iv)improvement in accessibility and supply of quality fertilizer to farmers; and (v)building of value chain linkages by supporting the local government to integrate smaller local NPK manufacturers into the domestic value chain.
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Company Indorama Eleme Fertilizer & Chemicals Limited (IEFCL) Point of Contact Mr. Rahul
Moondra Title Senior Manager -
Finance Telephone Number +234 -8129130097 Email infoprojectsii@indorama.com.ng
Mailing Address Indorama Complex, East West
Expressway, Eleme P.M.B. 5151, Port Harcourt, Rivers State,
Nigeria Website www.iefcl.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Location: Rivers State Address: Headquarters, Eleme Local Government Area, Eleme, Rivers State, Nigeria
Nigeria
Port Harcourt, Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-DA - Nitrogenous Fertilizer
Total: $120.00 million
120000000.00
120000000.00
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/40420/eleme-fertilizer-ii
XM-DAC-903-SII-40065
International Finance Corporation
Lagos City Infra
Lagos State is one of the 36 States of the Federal State of Nigeria, and is divided into 20 Local Government Areas. Among the latter, 16 of them form Metropolitan Lagos. Metropolitan Lagos is one of the worlds largest cities with a population estimated at approximately 17 million. The population is highly mobile and largely reliant upon public transport; however, the lack of an organized public transport network has led to inefficiencies in its provision and a low level of service to those who use it. Existing public transport has been widely described as chaotic, inefficient, expensive, low quality and dangerous both in terms of road traffic accidents and personal safety. The proposed project involves a strategic engagement with Lagos State to support the development of two Quality Bus Corridors (QBC) (the Project). The development of the two QBCs will cost approximately US$50 million. IFCs proposed investment will be an A loan of the Nigerian naira (NGN) equivalent of up to US$50 million. The QBCs are part of the Lagos State Transport Master Plan Project (LSTMPP), an ambitious city-wide reform of the public transportation services in Lagos, which was developed in part with financing from the World Bank, and, some of which is being implemented by the Lagos Metropolitan Transport Authority (LAMATA). LAMATA is the transport planning, implementing, regulating and franchising authority of the Lagos State Government. The two QBCs identified for IFC financing are: Command Abule Egba (6 km) and Ile Ile Ile Epo (4.3 km), both along existing road networks. The project activities will include road infrastructure improvement, rehabilitation of pedestrian walkways to improve walking conditions and accessibility to public transport services, rehabilitation of drainage, improvements of road junctions, provision of dedicated lanes for public transportation buses and construction of a new bus terminal for each QBC (a hub passenger pick up and drop off) and installation of a number of additional bus stops/ flags at each QBC. Buses will be sheltered, maintained and refueled at a bus depot (one of up to four that will be set up as part of the LSTMPP 1 to serve all the QBCs). There is a combined population of around 292,000 persons within a radius of 400 meters around these two corridors and about 10,400 passengers pass through them per hour during peak hours. Considering 75% of this passenger traffic is with public transportation, developing these QBCs will help reduce travel times and improve road safety. The project will support improved access to jobs and services, while achieving environmental objectives of reducing air pollution and carbon emissions. Pre-feasibility studies for both the QBCs have been completed. It is anticipated that detailed project design and relevant environmental and social studies, including a project specific Environmental and Social Management Plan (ESMP) and Resettlement Action Plan (RAP), will be completed by the last quarter of 2021. The construction work is expected to be completed by 2024.
A. Project-Level Outcomes: The expected project-level impacts include the following:
i) Provision of reliable transportation: The Project will support the rehabilitation of 2 Quality Bus Corridors ("QBC") located in the low-income areas of Lagos where the BRT and LRT will not reach. IFC expects that the project will provide passengers with more reliable and efficient public transportation, thereby reducing commute times and accidents along the corridors. The number of passengers benefiting from the project per day is expected to be circa 157,000. Based on IFC's Industry Specialist projection, the project is expected to generate an estimated annual timing savings of about 282, 800 hours per year and this in turn translates to an estimated economic value of time savings of $175, 000 a year.
ii) Environmental and social impacts: The Project will introduce more efficient and environmentally friendly transportation into the Lagos metropolis and help alleviate traffic congestion in a particularly densely-populated part of Lagos. This is expected to result in a reduction of greenhouse gas (GHG) emissions and environmental pollution. As per IFC's Industry Specialist estimates, about 5,300 tons of CO2 emission avoided per annum.
iii) Job creation: The Project is expected to create job opportunities for the local workforce during construction and provide training for long-term operations phase positions.
iv) Support social inclusion: Given that the project is located in low-income areas of Lagos, the improved connectivity is expected to benefit the local community and support social inclusion by facilitating access to job opportunities and key social and business services.
B. Contribution to Market Creation: The Project will complement World Bank support for the Lagos Strategic Transport Master Plan Project, which was developed with technical and financial assistance from the World Bank. Past transport projects financed by the World Bank include: i) the Lagos Urban Transport Plan Project Phase 1 (LUTP I; #P074963) - which financed the initial creation and capacity building at the Lagos Metropolitan Area Transport Authority (LAMATA) (LAMATA is the Lagos State's agency in charge of strategic planning, development and regulation (including granting concessions) of the public transport network)), traffic management and road maintenance in Lagos State, and, ii) the LUTP II (#P112956)), which focused on Bus Rapid Transit and feeder roads construction. The Project's contributions to market creation are as follows:
i) Improving physical and economic integration: IFC anticipates that the Project will enhance physical connectivity in the Abule Egba- Command and Ile Ile-Ile Epo areas of Lagos, enhancing economic activity and integration of labor seekers and employers. By improving the transport system capacity and urban connectivity, the Project has the potential to promote further mobility to other parts of Lagos, where more businesses and social services are located. The increased business activity will support productive employment for residents who get on the road daily in search of these income generation opportunities.
ii) Social and environmental sustainability: The Project is expected to set a benchmark for future similar projects in the city of Lagos through adoption of improved operational and safety standards on the two QBCs including improvement of the pavement, drainage system, sidewalks and lightning as well as improved drivers' skills and introduction of efficient and less pollutant buses in the transport system.
LAGOS STATE GOVERNMENT
Contact Person: Managing Director-Engr Abimbola Akinajo Company Name: LAMATA Address: KM 15 Ikorodu Road, Ketu-Ojota Cloverleaf Interchange, Lagos Nigeria. Email: aakinajo@lamata-ng.com Tel: 012702778
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Contact Person: Managing Director- Engr Abimbola Akinajo Company Name: LAMATA Address: KM 15 Ikorodu Road, Ketu- Ojota Cloverleaf Interchange, Lagos Nigeria. Email: aakinajo @lamata-ng.com Tel: 012702778
Nigeria
Lagos State, Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
other
Total: $50.00 million
50000000.00
50000000.00
LAGOS STATE GOVERNMENT
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/40065/lagos-city-infra
XM-DAC-903-SII-41760
International Finance Corporation
Kobo360 Project
0 0 0 0 0 0 0 0 0.0000 IFC is considering an equity investment of upto US$ 3 million in Kobo360 Inc (Kobo ). Kobo is a long-haul e-logistics B2B platform utilizing an Uber for trucks model to develop a marketplace matching cargo owners with long-haul freight needs and truck owners who are able to service them. Through its internally-developed digital platform, Kobo is disrupting the transportation and logistics market in Nigeria offering a strong value proposition to key stakeholders in the sector including cargo owners, transporters (and drivers) and cargo recipients. Kobo optimally matches demand and supply of trucks, providing predictability, reliability, price transparency, and increased utilization of otherwise idle assets in the highly fragmented trucking market in Nigeria. Given the strong population growth expected (Nigeria will be the third largest country in the world by 2050), logistics will become even more important to support booming sectors such as manufacturing, a griculture, commodities, fast moving consumer goods (FMCG), etc.
This Project will result in positive outcomes for the relevant parties in the logistics sector in Nigeria (cargo owners and truck owners/drivers) and the market at large.
For cargo owners, Kobo's platform offers greater access to logistics services through an aggregated platform thereby addressing capacity challenges in fulfilling market demand. By leveraging technology and eliminating middle-men/brokers, Kobo is able to offer lower prices to cargo owners in a market where logistics costs are 1.4-2.8x higher than in the US. In addition, Kobo offers reliability of delivery to cargo owners through real-time tracking of trucks and goods in transit insurance hence ensuring full traceability of goods.
For truck owners and drivers, Kobo offers increased capacity utilization through route optimization and return logistics hence higher incomes for drivers as well as faster payment cycles.
As the company scales and aggregates more drivers and cargo owners onto the platform, Kobo will bring more price transparency and efficiency to the broader sector.
KOBO360 INC
Kobo360 Inc Obiora Ozor Chief Executive Officer/Co-Founder 0818 678 0000 info@kobo360.com 22, Ikorodu Road, Jibowu Yaba, Lagos https://kobo360.com/Info
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 22, Ikorodu Road, Jibowu Yaba, Lagos
Nigeria
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
E-BD - Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)
Total: $3.00 million
3000000.00
3000000.00
KOBO360 INC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/41760/kobo360-project
XM-DAC-903-SII-42559
International Finance Corporation
Access Tier II
The project consists of an investment of up to US$87.5 million in Access Bank PLC (Access Bank or the Bank) in the form of a subordinated loan with a maturity of 10-years, callable after 5 years and with a 5-year grace period. The investment will enhance the Banks regulatory capital and enable to bank to scale up its lending program to micro, small and medium enterprises (MSMEs), including lending operations to women-owned MSMEs and climate smart projects.
1. Combined with Access Bank's merger with Diamond Bank PLC (the largest retail/SME bank in Nigeria), the funding under the proposed project is expected to enable the Bank to leverage its new distribution channels to reach a wider group of MSMEs and women-owned MSMEs by improving accessibility to finance. 2. IFC anticipates that the Project will increase financial access for climate smart investments by providing long-term financing to Access Bank enhance the Bank's capital base thereby enabling it to scale up its lending to corporates with climate-smart activities, as this is in scarce supply in Nigeria. 3. In terms of environmental and social effects, this project will support Nigeria's climate agenda by reducing greenhouse gas emissions.
Contribution to Market Creation: 1. Inclusiveness: The Project will contribute to a more inclusive MSME finance market by supporting the Bank's capital base to promote market-wide adoption of products across the Bank's network. 2. Sustainability: IFC's engagement with Access Bank will help build capacity in the Nigerian banking system to scale up green financing with the introduction of tools to identity, appraise and report on green assets, as well as green certification standards.
ACCESS BANK PLC
Access Bank PLC Seyi Kumapayi Chief Financial Officer +234 802 313 0935 Oluseyi.kumapayi@accessbankplc.com Head OfficePlot 999C, Danmole Street, Off Idejo Street,Victoria Island, Lagos State, Nigeria www.accessbankplc.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AH - Commercial Banking - SME Finance
Total: $87.50 million
87500000.00
87500000.00
ACCESS BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/42559/access-tier-ii
XM-DAC-903-SII-42031
International Finance Corporation
SLGP RSF Union Bank
The proposed project is a US$25 million Unfunded Risk Sharing Facility (RSF) (for a total portfolio of US$50 million local currency equivalent) with Union Bank of Nigeria PLC (Union Bank or the Bank), a leading financial institution that also serves Small Medium Enterprise (SME) segment in Nigeria (the Country). The RSF will support the Bank in increasing its lending to SMEs, including Women-Owned SMEs (WSMEs), and those operating in the northern and delta regions in Nigeria (the Project).
1. Stakeholders Impact - IFC anticipates that the RSF will allow the Bank to sustainably improve its SME portfolio risk profile and hence contribute to increasing access to finance for SMEs including to underserved segments such as WSMEs and SMEs operating in the Northern and Delta regions in Nigeria.
2. Inclusiveness - IFC anticipates that capacity building offered by the SLGP and IFC Advisory Services will help Union Bank to scale-up its lending activities to SMEs in Nigeria, thereby demonstrating that this underserved segment could be commercially viable. This should give comfort to other banks to also extend their services to this segment, making the banking sector more inclusive. Union Bank recently launched a Women's product αlpher and the proposed project is expected to expand its current offerings to individual women and women-owned businesses.
3. Competitiveness: Through the demonstration and replication channel, Union Bank's expansion of its SME portfolio will demonstrate to the wider local market that SMEs, particularly currently underserved segments (WSMEs and SMEs including those operating in the northern and delta regions in Nigeria) are an attractive asset class. The Project is, therefore, expected to increase the market's competitiveness as other market participants also move down-market to replicate the Bank's success. Also, once the viability of this product and segment is established, it is likely to be replicated more broadly across the banking sector in the Country. Banks will start scrambling for market share on this newly bankable segment, progressively lowering their pricing as perceived risk reduces and more suited products are introduced to the market.
SLGP RSF Union Bank Nigeria
Union Bank of Nigeria Plc Sola Olubi General Manager +2348034000319 obolubi@unionbankng.com 36 Marina Lagos www. unionbankng.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank, with its head office in Lagos, has an extensive distribution network comprising over 300 sales and service centres and 1,100 active automated teller machines across Nigeria. Banking services are also provided through electronic channels, including online banking, mobile banking, debit cards and over 7,900 active point-of-sale machines at merchant locations across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $25.00 million
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/42031/slgp-rsf-union-bank
XM-DAC-903-SII-42187
International Finance Corporation
Indorama Eleme Fertilizer and Chemicals Limited
The Indorama Group (Indorama or the Sponsor) a long-standing IFC client in several countries, is one of the worlds fastest growing groups in the petrochemical and fibres business, with global business presence in 35 countries in Asia, Africa, Europe and the Americas and more than 37,000 employees. In August 2006, Indorama International Finance Plc, UK (Indorama International) purchased a 75% equity stake in what was formerly known as Eleme Petrochemicals Company Limited (now known as Indorama Eleme Petrochemicals Limited IEPL) under the Nigerian federal governments privatization plan, to which IFC had acted as advisor. IFC also invested in Indorama to implement a turnaround program for Elemes olefins, polyethylene and polypropylene plants (IFC Project # 24802). In June 2016, Indorama successfully commissioned a 1.4 million metric tons per annum (MMtpa) urea fertilizer facility (including a captive ammonia facility) in Nigeria under its Indorama Eleme Fertilizer & Chemicals Limited (IEFCL or the Company) subsidiary, with investment from IFCs own account, IFC-mobilized parallel lenders and other commercial lenders (IFC Project #30967). In March 2016 IFC made an additional investment in IEFCL to support construction of a jetty in the nearby Onne port for the export of fertilizer (IFC Project #38096). Having successfully commissioned the Line I Ammonia Urea fertilizer facility, Indorama also approved the construction of Line II, the second ammonia / urea fertilizer line, to expand the current capacity to 2.8 MMtpa; IFC provided a loan to this project as well (Project # 40420). Line II is currently under construction and is expected to be operational by 3rd quarter of 2021. IFC is considering a further investment in IEFCL of up to US$35 million (MM) for its own account and up to US$115MM in parallel loans to be mobilized from commercial banks and other DFIs, for construction of a feed conditioning unit (FCU), an add-on gas processing facility to Line II with capacity of 160 MM standard cubic feet per day (the Project). The FCU will recover carbon dioxide in the gas and shall also separate heavier by-products. This will ensure the supply of gas having consistent composition to Line II, and the heavier by-product will help increase polymer production in IEPL . The Project will essentially replicate, at a larger size, the recently completed FCU unit, located next to the IFC-supported Eleme Fertilizer I urea plant (project #30967) and used for the recovery of heavier by-products from feedstock supplied by a gas supplier. The first FCU, which was completed in 2018, was installed as part of the construction of Line I and is operating satisfactorily. FCU II will be located next to the existing FCU; the two units will share several facilities including the control room and flare systems. The Project is expected to be started up in April 2022, about a year after expected Line II start-up.
The Project will promote (i) Economic diversification in Nigeria by increasing supply of raw materials converted to higher value products; (ii) Direct and indirect employment; (iii) Environmental impact through savings in feed usage and the reduction in CO2/GHG emissions; (iv) Integration of smaller downstream companies in the value chain, and possible development of additional plastic processors in Nigeria with the increase in polymer product availability.
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Indorama Eleme Fertilizer & Chemicals Limited (IEFCL) Mr. Rahul Moondra Senior Manager - Finance +234 -8129130097 infoprojectsii@indorama.com.ng P.M.B. 5151, Port Harcourt, Rivers State, Nigeria www.iefcl.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Location: Rivers State Address: Headquarters, Eleme Local Government Area, Eleme, Rivers State, Nigeria
Nigeria
Port Harcourt, Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-BE - Petrochemical
Total: $35.00 million
35000000.00
35000000.00
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/42187/indorama-eleme-fertilizer-and-chemicals-limited
XM-DAC-903-SII-43116
International Finance Corporation
GTFP Corona. MB
The project consists of an investment of up to US$ 40 million in Coronation Merchant Bank (CMB or the Bank) in the form of a trade finance guarantee facility for transactions with tenor up to one year.
The project builds on GTFP's global platform, increasing access to trade finance to emerging markets. The Project will provide increased access to trade finance to the Issuing Bank's customers, including both corporates and SMEs. On the market side, the project will further connect the Issuing Bank's cross border connections, increasing the country's integration through both financial and real sector channels. It will help to link more traders to other countries and connect the country's financial markets more deeply.
CORONATION MERCHANT BANK LIMITED
Coronation Merchant Bank Limited Kesiena Esievo Head, Global Trade +234 01-2366214 KEsievo@coronationmb.com 10 Amodu Ojikutu Street, Off Saka Tinubu Street, Victoria Island, Lagos, Nigeria https://www.coronationmb.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000
Nigeria
The Banks major operation is in Lagos with two branches in Abuja and Port Harcourt.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AD - Commercial Banking - Trade
Total: $500.00 million
500000000.00
500000000.00
CORONATION MERCHANT BANK LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43116/gtfp-corona-mb
XM-DAC-903-SII-40755
International Finance Corporation
ND Refineries Ltd
ND Refineries Limited (NDRE) is a mini-refinery located in Ogbele, Rivers State, Nigeria. The project entails the financing of the capacity expansion, infrastructure, and environmental improvement investments of NDRE (the Project).
The Project's expected development impact includes (i) reduction of Nigeria's current account deficit by reducing import of petroleum products (ii) creating direct and indirect jobs in Rivers State Nigeria (iii) improving competitiveness and quality standards in Nigerian refining sector by supporting the expansion of a private player (iv) creating a demonstration impact by showing the viability of modular refineries in countries where there are significant crude-oil reserves such as Nigeria.
ND REFINERIES LIMITED
ND Refineries Limited Felix Abili Finance Department +234 (0) 809 880 1449 felixabili@ngdelta.com 15 Babatunde Jose Road, Off Adetokunbo Ademola Road, Victoria Island, Lagos, Nigeria. Websitehttp://www.ngdelta.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Off Adetokunbo Ademola Road, Victoria Island, Lagos, Nigeria.
Nigeria
The Project will be developed on NDREs existing facilities in Ogbele, Port Harcourt, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-AA - Oil Refineries
Total: $35.00 million
35000000.00
35000000.00
ND REFINERIES LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/40755/nd-refineries-ltd
XM-DAC-903-SII-44091
International Finance Corporation
WCS Crisis Response First City Monument Bank
The proposed investment consists of a one-year, renewable unsecured senior loan of up to US$50 million to First City Monument Bank Limited (FCMB or Bank) under the FIG COVID-19 Emergency Response Working Capital Solutions Envelope (WCS Envelope). The WCS Envelope is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic. The WCS facility will support the Bank in increasing its lending to FMCG companies importing raw materials, petroleum products, goods and commodities traders, corporates and Small and Medium Enterprises.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
FIRST CITY MONUMENT BANK LIMITED.
FCMB Limited Gerald Ikem Group Head, Treasury 08082000429 Gerald.ikem@fcmb.com Primrose Towers, 17A, Tinubu Street, Lagos Island www.fcmb.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank operates from its headquarters in Lagos and serves more than 5.5 million customers through its network of 205 branches and 768 agent banking outlets across Nigeria. The Bank has a subsidiary in United Kingdom.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $50.00 million
50000000.00
50000000.00
FIRST CITY MONUMENT BANK LIMITED.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44091/wcs-crisis-response-first-city-monument-bank
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
XM-DAC-903-SII-43988
International Finance Corporation
WCS Crisis Response Zenith Bank
The proposed investment consists of a one-year, renewable unsecured senior loan of up to US$100 million to Zenith Bank Plc (Zenith or Bank) under the FIG COVID-19 Emergency Response Working Capital Solutions Envelope (WCS Envelope). The WCS Envelope is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic. The WCS facility will support the Bank in increasing its lending to FMCG companies importing raw materials, petroleum products, goods and commodities traders, corporates and Small and Medium Enterprises.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
ZENITH BANK PLC
Zenith Bank Plc Doris Anite Group Head, Treasury 08023020751 doris.anite@zenithbank.com Head Office, Plot 87 Ajose Adeogun Victoria Island Lagos Nigeria. www.zenithbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank operates from its headquarters in Lagos and has over 600 branches across Nigeria and its subsidiaries. The Bank has six subsidiary companies; namely a pension custodian, a trustee company and four banking subsidiaries in Ghana, Sierra Leone, the Gambia and the United Kingdom. The Bank also has a representative office in China in addition to operating a branch of Zenith Bank (UK) Limited in the United Arab Emirates.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $100.00 million
100000000.00
100000000.00
ZENITH BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43988/wcs-crisis-response-zenith-bank
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
XM-DAC-903-SII-39713
International Finance Corporation
Engee PET Manufacturing Limited
Engee PET Manufacturing Company Nigeria Limited (Engee or the Company) seeks IFCs financing for the construction of a Continuous Polymerization (CP) plant in Ogun State, Nigeria, with a nameplate capacity of 150,000 metric tons per annuum (mtpa) as backward integration to an existing Solid State Polymerization (SSP) plant (the Project). The addition of the CP plant will enable the Company to backward integrate by manufacturing PET using basic petrochemicals which will increase manufacturing value addition in Nigeria. The CP line will also deepen the circular economy in Nigeria through the production of recycled PET (rPET) to improve the recovery of waste plastics in the country. The Project is expected to be supported by the IDA Private Sector Window (PSW) Blended Finance Facility (BFF).
The most significant expected Project-level outcomes are: (i) economywide effects via local production and the development of the recycled plastics supply chain in Nigeria, and (ii) environmental effects through introducing recycled plastics into its business model. Beyond the Project, IFC anticipates that its engagement with the Company will significantly deepen the recycled PET business in Nigeria, thereby increasing product and process complexity in the manufacturing sector in Nigeria with opportunities to further integrate into other value chains.
ENGEE PET MANUFACTURING COMPANY NIGERIA LIMITED
Engee PET Manufacturing Company Nigeria Limited Mr. Alexander Gendis Managing Director +2341903390 Alexander.Gendis@engeepet.com Igbesa Village, Ogun State, Nigeria http://www.engeepet.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Engee PET Manufacturing Company Nigeria Limited , Igbesa Village, Ogun State, Nigeria
Nigeria
The Project will be set up at the Companys existing manufacturing site in Igbesa Village, Ogun State, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-CA - Plastics Material and Resin
Total: $24.00 million
24000000.00
24000000.00
ENGEE PET MANUFACTURING COMPANY NIGERIA LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/39713/engee-pet-manufacturing-limited
XM-DAC-903-SII-43060
International Finance Corporation
FBN Nigeria WCS
The proposed project consists of an investment of up to US$150 million in First Bank of Nigeria Limited (FBN or the Bank), a leading bank operating in Nigeria. The investment will be in the form of a working capital solutions facility (WCS), to support the Bank in expanding its trade finance program to Small and Medium Enterprises (SMEs). The facility will have a maturity of one year, renewable annually up to two times for an aggregate tenor of 3 years. A carve-out of 10% of the WCS facility (up to US$15 mn) will be targeted at supported climate-smart projects while an additional 10% will be dedicated to Women-Owned SMEs (WSMEs).
By supporting trade finance in partnership with one of the largest Nigerian banks, the project will have a demonstration impact, promote competition, and encourage other lenders to participate in funding trade finance in Nigeria:
1. Change in accessibility of trade finance for SMEs: The project is expected to improve access to stable USD liquidity for SMEs to support the importation of raw materials and critical commodities. With the funding from this investment, FBN will be able to reach a wider group of SMEs such as those involved in climate smart agriculture supply chains (irrigation equipment, high quality and climate resilient seeds, and alternative fertilizers, etc.), solar companies and solar supply chains, as well as the import-export and distribution of energy efficient and renewable energy equipment.
Name% Shareholding1Eastspring Investments Singapore1.92%2Ayoola Oba Otudeko1.50%3Oyekanmi Hassan-Odulake0.86%4T. Rowe Price Associates0.77%5Norges Bank0.58%6BlackRock Fund Advisors0.35%7Global X Management Co. LLC0.29%8Eaton Vance Management0.23%9Legal & General Group Plc0.15%10Eke Urum Kalu0.06%Total for top 10 largest shareholders6.70%Others 93.30%Total 100.00%
2. Change in accessibility of climate finance: IFC anticipates that the project will increase financial access for climate smart investments by providing financing to FBN for targeted on-lending to climate smart projects by SMEs and corporates, as this is in scarce supply in Nigeria.
3. Competitiveness: The project will help jumpstart the process of raising climate finance and establish a new asset class for the Bank. Through demonstration and replication, IFC expects other banks to adopt a similar systematic approach to establishing their green lending portfolio.
4. Sustainability: IFC's engagement with FBN will help build capacity in the Nigerian banking system to scale up green financing with the introduction of tools to identify, appraise and report on green assets, as well as green certification standards.
FIRST BANK OF NIGERIA LTD
First Bank of Nigeria Limited Rotimi Adegbemile Business Manager, Financial Institutions +234 802 7739101 olurotimi.adegbemile@firstbanknigeria.com Samuel Asabia House, 35 Marina, Lagos, Nigeria www.firstbanknigeria.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank operates from its headquarters in Lagos and serves more than 17 million customers through its network of over 750 business locations and 53,000 agent banking outlets across Nigeria. The Bank has subsidiaries in Ghana, Guinea, Senegal, The Gambia, Sierra Leone, Democratic Republic of Congo, France, the United Kingdom and a representative office in China.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $125.00 million
125000000.00
125000000.00
FIRST BANK OF NIGERIA LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43060/fbn-nigeria-wcs
XM-DAC-903-SII-44047
International Finance Corporation
WCS Crisis Response Access Bank PLC
The proposed investment consists of a one-year, renewable unsecured senior loan of up to US$50 million to Access Bank PLC (Access Bank or Bank) under the FIG COVID-19 Emergency Response Working Capital Solutions Envelope (WCS Envelope). The WCS Envelope is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the corona virus pandemic. The WCS facility will support the Bank in increasing its lending to FMCG companies importing raw materials, petroleum products, goods and commodities traders, corporates and Small and Medium Enterprises.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during these unexpected and uncertain times , IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
ACCESS BANK PLC
Access Bank PLC Seun Bamidele Olufeko Group Head, Project & Structured Finance +234 7060414123 Seun.Olufeko@ACCESSBANKPLC.com Plot 999c Danmole Street, Victoria Island, Lagos www.accessbankplc.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank operates from its headquarters in Lagos and serves more than 36 million customers through its network of 660 branches and service outlets, spanning 12 countries across Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, United Arab Emirates) and representative offices in China, India and Lebanon.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $50.00 million
50000000.00
50000000.00
ACCESS BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44047/wcs-crisis-response-access-bank-plc
Development Results
Development Result Description
Indicator
CORE - E and S Management Systems (Y/N)
Compliance/Enhancement
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during these unexpected and uncertain times , IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during these unexpected and uncertain times , IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
XM-DAC-903-SII-42662
International Finance Corporation
GTFP Union PLC
The project consists of an investment of up to US$ 40 million in Union Bank of Nigeria Plc (Union Bank or the Bank) in the form of a trade finance guarantee facility for transactions with tenor up to one year. This is part of the GTFP program (https://disclosures.ifc.org/#/projectDetail/SPI/23898)
1. Rebuilding Confidence in the Market Due to the current economic crisis as a result of Covid-19, and the drop in crude oil price, most correspondent banks are freezing their existing lines and/or reducing their exposure to Nigerian banks. The engagement with Union Bank will send a positive signal in general, to investors and other international financiers. 2. Increasing Trade in an IDA Country - Increasing supply of capital and consumer goods in an IDA country, leading to jobs, food security and wealth creation. 3. Access to Trade - Increasing access to trade finance solutions by corporate and SME clients that the Bank serves. The line will support trade activities that promote critical sectors such as Fast-Moving Consumer Goods (FCMG), Manufacturing, Agriculture, Services, Oil & Gas, Telecommunication and Construction.
UNION BANK OF NIGERIA PLC
Union Bank of Nigeria Plc Ini Obot Nelson Relationship Manager, Financial Institutions +234 01-2716800 Ext 2465 ionelson@unionbankng.com Stallion Plaza, Treasury Department (15th Floor), 36, Marina Lagos. www.unionbankng.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Not applicable
Nigeria
The Bank, with its Head Office in Lagos, has an extensive distribution network comprising over 300 sales and service centers and 1,038 active automated teller machines across Nigeria. Banking services are also provided through electronic channels, including online banking, mobile banking, 5400 Agent networks and over 7,900 active point-of-sale machines at merchant locations across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AD - Commercial Banking - Trade
Total: $500.00 million
500000000.00
500000000.00
UNION BANK OF NIGERIA PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/42662/gtfp-union-plc
XM-DAC-903-SII-44042
International Finance Corporation
WCS Crisis Response Union Bank Nigeria Plc
The proposed investment consists of a one-year, renewable unsecured senior loan of up to US$30 million to Union Bank of Nigeria PLC (Union Bank or Bank) under the FIG COVID-19 Emergency Response Working Capital Solutions Envelope (WCS Envelope). The WCS Envelope is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic. The WCS facility will support Union Bank in increasing its lending to Small and Medium Enterprises (SMEs) particularly in the healthcare, food and trading sectors to allow them strengthen operations, maintain employment and access critical raw materials.
All projects under the COVID-19 Facility share the same development thesis that, by supporting its clients' capacity to sustain operations during this acute shock, IFC best positions the private sector to support the economic recovery process, shortening the time it will take for the most vulnerable to return to their traditional income-earning opportunities.
UNION BANK OF NIGERIA PLC
Union Bank of Nigeria PLC Ini Obot Nelson Relationship Manager, Financial Institutions +234 1 2716800 Ext: 2465 ionelson@unionbankng.com Stallion Plaza, 36 Marina, Lagos www.unionbankng.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank, with its head office in Lagos, has an extensive distribution network comprising over 287 sales and service centers and 1,100 active automated teller machines across Nigeria. Banking services are also provided through electronic channels, including online banking, mobile banking, debit cards, 7,900 active point-of-sale machines at merchant locations and over 14,200 Agents across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $30.00 million
30000000.00
30000000.00
UNION BANK OF NIGERIA PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44042/wcs-crisis-response-union-bank-nigeria-plc
XM-DAC-903-SII-44761
International Finance Corporation
Indorama Eleme Petrochemicals Limited- Efficiency project
Indorama Eleme Petrochemicals Limited (IEPL) is an integrated petrochemical company with a liquids cracker and downstream polyethylene (PE) and polypropylene (PP) production, located in Port Harcourt Nigeria. IEPL is the largest producer of polyolefins in West Africa, and the 2nd largest in Sub Saharan Africa. The proposed investment is for up to US$64 million in A Loan and up to US$9 million concessional senior loan from IFC as implementing entity of the IDA PSW Blended Finance Facility (BFF) to IEPL, to finance the debottlenecking (DBN) of its olefins and polyolefins plant, including installation of a new furnace that will expand production capacity, and two Heat Recovery Steam Generators (HRSG) to recover energy and improve steam reliability, with significant efficiency upgrades that will reduce gas consumption, increase energy efficiency and reduce CO2 emissions, at the existing Eleme Petrochemicals site in Port-Harcourt, Nigeria.
The most significant expected Project-level outcomes are: (i) the economywide effects via value addition; ii) the environmental effects from savings in the consumption of fossil fuels and GHG emissions reduction. Beyond the Project, IFC anticipates the potential to promote market sustainability through a demonstration effect.
INDORAMA ELEME PETROCHEMICALS LIMITED
Indorama Eleme Petrochemicals Limited Rahul Moondra Deputy General Manager +234 805 834 0482 rmoondra@indorama.com.ng East-West Expressway, PMB 5151; Port Harcourt, Rivers State, Nigeria https://www.indoramaeleme.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Location: Rivers State ; Address: Headquarters, Eleme Local Government Area, Eleme, Rivers State, Nigeria
Nigeria
The Project will be implemented at the existing Eleme Petrochemicals site in Port-Harcourt, Rivers State, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-BE - Petrochemical
Total: $64.00 million
64000000.00
64000000.00
INDORAMA ELEME PETROCHEMICALS LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44761/indorama-eleme-petrochemicals-limited-efficiency-project
XM-DAC-903-SII-43623
International Finance Corporation
Daystar Power
Daybreak Power Solutions (Daybreak or the Company) is a 100% owned subsidiary of Daystar Power Group (Daystar Group). Daybreak provides clean, competitive and reliable solar hybrid solutions to commercial and industrial customers (C&I) who are receiving poor supply from the countrys grid infrastructure and/or heavily reliant on diesel for generation. Daybreaks business model is to achieve a energy cost saving for its C&I customers primarily via the displacement of diesel generation with solar and battery-based solutions. Daybreak currently has 8.1MWp installed solar capacity across 156 sites. The Companys target is 140MWp solar capacity by 2024 via a 4-year capital expenditure program phased based on funding secured. Phase 1 deployment: 30MWp, Phase 2 deployment: 55MWp and Phase 3 deployment: 55MWp. Daybreak is seeking to raise US$40 million to fund its Phase 1 program (the Project). The Project will be funded by (i) an IFC LCY C Loan for IFCs own account of US$10 million supported by the IDA19 Private Sector Window Local Currency Facility (PSW LCF); (ii) a US$10 million subordinated loan from IFC as implementing entity of the Canada-IFC Renewable Energy Program for Africa; and (iii) shareholders equity of US$20 million.
- The Project is expected to increase reliability and affordability of electricity for C&I customers facing unstable supply. To meet current demand, Nigerian C&I customers rely on costly self-generation (mainly diesel units and smaller gasoline-powered generators). The Project provides power system management services and alternative energy sources provided cost efficiently to C&I customers in Nigeria. It has a target to install about 30 MWp of generation capacity by 2022. By expanding alternative reliable power solutions provided cost effectively to C&I customers, the project also supports growth and job creation in the Nigerian economy.
- The proposed investment will result in GHG emission savings in electricity generation, from the switch to solar PV from more carbon intensive fuels used in distributed power generation. Emissions savings are estimated at 32,700 tons of CO2 per annum.
- At a market level, the Project contributes to the decarbonization of the power sector in Nigeria by supporting the achievement of scale in deploying solar PV to C&I consumers. The project supports the expansion of a pioneer in the C&I solar distributed generation industry that helps to establish a track record for solar as an alternative to carbon-intensive energy sources. It also provides market signals that help to unlock some bottlenecks faced by solar PV distributed generation, including perceptions on reliability and cost of the solution.
DAYBREAK POWER SOLUTIONS LIMITED
Daybreak Power Solutions Limited Jasper Graf von Hardenberg Group Chief Executive Officer +234 818 222 2215 jasper.hardenberg@daystar-power.com 1 Adeyemi Bero Crescent Ilupeju, Lagos, Nigeria www.daystar-power.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 www.daystar-power.com
Nigeria
The Company is headquartered in Lagos, Nigeria and provides solar hybrid solutions to commercial and industrial customers (C&I) throughout the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
V-BF - Solar - Renewable Energy Generation
Total: $10.00 million
10000000.00
10000000.00
DAYBREAK POWER SOLUTIONS LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/43623/daystar-power
XM-DAC-903-SII-44596
International Finance Corporation
FCS Moove Project
Moove Africa B.V. (the Company or Moove) is leading a project to source, operate and maintain a fleet of vehicles for access to drivers, as Ubers exclusive fleet manager in Sub Saharan Africa (outside of South Africa). Uber is the largest e-hailing company in the world. Moove runs flexible rental and lease models with partnering drivers who will have the ability to own the vehicles after agreed tenures.
The project supports a pioneer company running rental and lease models for ride-hailing car drivers in parts of Sub Saharan Africa where the limited supply of cars has caused severe bottlenecks for the growing ride-hailing business. This will help enhance urban mobility and improve the safety of ride-hailing services, while allowing for improved quality of cars and jobs in the industry. In addition to piloting hybrid vehicles, the project is a strong contributor to the shared economy and it enables the shift from private car use in a congested market, thus classifying the investment as climate finance. This proposed investment also supports the creation of an inclusive business model for ride-hailing in Nigeria by demonstrating a replicable model for the high participation of women in a male-dominated industry.
MOOVE AFRICA B.V.
Moove Africa Moove Inquiries info@moove.africa www.moove.africa
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Contact Person: Moove Inquiries Email: info@moove.africa Website: www.moove.africa
Nigeria
The Company is headquartered in the Netherlands and the Project is located in Lagos, Nigeria. As of April 2021, the Company has operations in Nigeria, Ghana and South Africa.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
E-AD - Transit and Ground Passenger Transporation
Total: $10.45 million
450000.00
10000000.00
450000.00
MOOVE AFRICA B.V.
10000000.00
MOOVE AFRICA B.V.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44596/fcs-moove-project
XM-DAC-903-SII-45311
International Finance Corporation
TIDE Africa II
IFC is considering an equity investment of up to US$10 million in TIDE Africa II Limited Partnership (TIDE II). TIDE II is an Africa-focused venture capital fund investing in Seed to Series A tech and tech-enabled companies mainly in East and West Africa. The Funds sectoral focus will mainly be in the fintech, e-logistics, e-supply chain and healthtech space. This will be the second fund that IFC will be investing in after its US$5 million commitment into TIDE Africa Fund I Limited Partnership (TIDE I) that has so far made investments into 11 tech startups in Kenya, Nigeria and South Africa.
IFC expects the project to deliver successful project outcomes, by providing an increase in access to capital for early stage technology companies in capital constrained economies that have the potential to disrupt traditional industries, along with investee growth, which will be supported by TIDE II's value creation strategies. The Project has received an AIMM rating of 76 (Excellent) on account of Very Strong Project Outcomes as a result of the increased access to both equity and operational support for startups mainly in Kenya and Nigeria which serve as critical regional hubs incubating startups than can then scale to serve the broader African markets, especially East and/or West Africa.
TIDE II is also expected to result in Very Strong Market Outcomes anchored by enhanced integration driven by increased competitiveness of key markets through the support of market-disrupting digital business models. In addition, TIDE II is expected to increase the competitiveness of Sub-Saharan Africa's venture capital market.
TLCOM HOLDINGS LIMITED
TLcom Capital Maurizio Caio Founder and Managing Partner +254 20 7640172 info-ke@tlcomcapital.com 5th Floor, Senteu Plaza Galana Road, Kilimani, Nairobi https://tlcomcapital.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
TIDE Africa has presence in Kenya (Nairobi), Nigeria (Lagos) and the United Kingdom (London).
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
P-BB - Venture Capital Fund
Total: $10.00 million
10000000.00
10000000.00
TLCOM HOLDINGS LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45311/tide-africa-ii
XM-DAC-903-SII-44985
International Finance Corporation
CDel SLGP SC Nigeria RSF1
The proposed project consists of an unfunded Risk Sharing Facility (RSF) in an amount of up to US$10 million equivalent in local currency, which will guarantee 50% of an up to ~US$20 million (local currency equivalent) portfolio of loans to Small and Medium Enterprises (SMEs) to be originated by the Bank. The RSF (the Project) will support the Bank in increasing its lending to SMEs, particularly Women-owned SMEs (WSMEs). The proposed project is conceived as the initial pilot of a multi-phase implementation, with the possibility of expansion to other key subsidiaries.
Stakeholder Impact: Increased access to finance for SMEs: IFC anticipates that the RSF will allow the Bank to sustainably increase its SME lending profile by providing working capital to support commerce, funded trade finance for the importation of goods/raw materials, and longer-term loans to finance the acquisition of energy efficient equipment and/or business expansion through the risk-sharing arrangement, and hence contribute to increasing access to finance for SMEs. The Bank will also target particularly underserved sub-segments such as WSMEs and climate smart SMEs. The targeted subsegments, and projected quantum of financing to each, will be further defined at appraisal.
Contribution to Market Creation: Competitiveness: IFC, by providing longer term financing through an RSF and leveraging the complementary capacity building, will support the Bank in the development and scale-up of SME product offerings and therefore its ability to lend competitively and profitably to SMEs. in Nigeria, an underserved sector perceived by local banks as risky. This would demonstrate the commercial viability of SMEs to the wider sector and help induce greater capital flows towards SMEs.
SLGP Standard Chartered Nigeria RSF I
Standard Chartered Nigeria Daniel Ashinze Head, Business Banking Products +234 802 361 2616 Daniel.Ashinze@sc.com Victoria Island, Lagos, Nigeria https://www.sc.com/ng
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project is located in Nigeria, where the bank primarily operates through a network of 22 branches dispersed across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $30.00 million
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44985/cdel-slgp-sc-nigeria-rsf1
XM-DAC-903-SII-44726
International Finance Corporation
GTFP STERLING B.
The proposed project consists a trade line guarantee with Sterling Bank Nigeria (the Bank). The project will support the Banks strategic plan to grow its international trade business in its target sectors (Health, Education, Agribusiness, Renewables, and Transport). The project is processed under IFCs Global Trade Finance Program (GTFP), which extends and complements the capacity of banks to deliver trade financing by providing risk mitigation in markets where trade lines may be constrained.
Project Impact: Stakeholder Effects IFCs GTFP will provide trade finance support to Sterling Bank and consequently to the Banks customers thereby promoting trade for both critical corporates and SMEs in Nigeria. By joining the GTFP, the Bank will have access to a network of 400Correspondent Banks (CBs). This is expected to help boost the profile of the Bank and open doors for more future engagements with the CBs beyond trade. This Project will consequently allow the Bank to offer better terms to its clients which includes SMEs. Contribution to Market Creation: Resilience GTFP builds, protects, and deepens trade finance networks in lower income/IDA and fragile and conflict-affected countries, by continually enabling individual trade transactions to take place, which slowly builds resilience of trade networks, trade, and income to these economies. This support is especially critical in the maintenance of liquidity and essential goods when the market is facing shocks (most recently triggered by COVID-19). GTFP also ensures that the flow of essential goods and finance is maintained, preventing a potential crisis and further building resilience in the market.
STERLING BANK PLC
Sterling Bank Plc Kelechi Nwaoba Group Head Transaction Banking & Corporate Solutions +234(0) 802-290-1601 kelechi.nwaoba@sterling.ng 20 Marina Lagos, Nigeria www.sterling.ng
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Sterling Bank is headquartered in Lagos, Nigeria. The Bank operates a network of 176 branches across in urban and rural areas across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AD - Commercial Banking - Trade
Total: $500.00 million
500000000.00
500000000.00
STERLING BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44726/gtfp-sterling-b
XM-DAC-903-SII-45629
International Finance Corporation
WCS CR Coronation Merchant Bank
The proposed investment consists of a working capital facility of up to US$20 million to Coronation Merchant Bank Limited (the Bank or Coronation MB) under an IFC dedicated COVID-19 Emergency Response WCS Envelope (the WCS Facility). The WCS Facility is designed to provide funding to existing IFC client banks in emerging markets that will then extend new trade-related or working capital loans to companies whose cash flows have been disrupted by the global outbreak of the coronavirus pandemic.
Resilience: in the context of the shock associated with the COVID pandemic, IFC will, through the proposed investment, support the Bank's capacity to sustain operations and particularly lending to critical sectors of the Nigerian economy.
Increase in access to finance: The proposed investment is expected to increase access to finance for players in key sectors of the Nigerian economy by helping the Bank scale up its trade-related financing to enterprises in Nigeria, which in turn is expected to drive economic growth and job creation.
CORONATION MERCHANT BANK LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Federal Republic of Nigeria (the Country)
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $20.00 million
20000000.00
20000000.00
CORONATION MERCHANT BANK LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45629/wcs-cr-coronation-merchant-bank
XM-DAC-903-SII-45225
International Finance Corporation
Robust Nigeria
Robust International (Robust or the Company) is a midscale agri-commodity trader headquartered in Singapore that specializes in niche commodities such as sesame, cashew, and ginger. The company is active in sourcing from across Sub-Saharan Africa. IFCs financing will be used to support Robusts expansion of operations in Nigeria (the Project), where use of funds includes i) financing the construction of warehouse complexes and sesame processing facilities in Nigeria, and (ii) associated working capital to support increased sourcing and processing activity under the project.
The most significant expected Project outcomes are i) contributing to domestic value addition through investments in processing facilities, ii) improving farmer livelihoods through more reliable access to storage and offtake, and iii) benefitting the environment through reductions in GHG emissions associated with high food losses. Beyond the Project, IFC anticipates that contribution to market creation will stem from better integrating an underserved part of the country into global value chains by setting up storage and processing facilities close to the producers and demonstrating the business rationale for enhancing this type of physical infrastructure in the north of Nigeria to counter existing bottlenecks for sector development.
ROBUST INTERNATIONAL PTE. LTD.
Robust International Pte Ltd Vishanth Narayan Executive Director +65 62927316 ed@robust-international.com #09-17 to 20, Singapore 238164 https://www.robust-international.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Mr. Vishanth Narayan Executive Director, Robust International Pte Ltd TripleOne Somerset Road, #09-17 to 20, Singapore 238164 Tel: +65 62927316; Email: ed@robust-international.com
Nigeria
As part of the Project, an integrated complex with warehouses and sesame processing lines will be constructed in the Kano region, and a warehouse will be setup along the Lagos-Ibadan highway.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
A-AG - Diversified Edible Agricultural Crops Production
Total: $9.00 million
9000000.00
9000000.00
ROBUST INTERNATIONAL PTE. LTD.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45225/robust-nigeria
XM-DAC-903-SII-45304
International Finance Corporation
BOP LAPO Project
The proposed investment consists of a up to three-year senior loan of US$8 million in local currency to LAPO Microfinance Bank (LAPO MFB), a long-standing IFC client, under the Base of the Pyramid Program (BOP Program), part of the IFC Fast Track COVID-19 Facility. The BOP Program is designed to enable LAPO MFB to provide much needed local currency funding to micro and small and medium enterprises (MSMEs) that have been negatively affected by the COVID-19 pandemic in Nigeria. The Project is supported by IDA PSW Blended Finance Facility.
The project will help provide financing to microenterprises in Nigeria. The most significant expected project-level outcome for the project is access to finance for microenterprises to support economic activity and resilience in the aftermath of the COVID-19 crisis. Beyond the project outcome, IFC anticipates that the Project will support resilience amongst microfinance and BOP finance providers catalyzing investments in the sector by demonstrating the viability of lending to BOP providers and crowding in other sources of international and domestic finance in support of these lenders.
LAPO MICROFINANCE BANK LTD
LAPO Microfinance Bank Limited Obaroakpo Akiri Head, Treasury and Creditors Relationship Management +2348037311822 obaroakpo.akiri@lapo-nigeria.org 18 Dawson Road, Benin City, Edo State, Nigeria Websitehttps://www.lapo-nigeria.org/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project will support LAPO MFBs operations in Nigeria. LAPO MFB has an extensive distribution network in Nigeria comprising over 535 branches across 34 states in the country including the Federal Capital Territory (FCT). LAPO MFB also deploys its products and services via 1,500 agents, 200 thrift collection officers, a dedicated 24/7 call center.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-HA - Microfinance and Small Business - Non Commercial Banking
Total: $8.00 million
8000000.00
8000000.00
LAPO MICROFINANCE BANK LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45304/bop-lapo-project
XM-DAC-903-SII-45601
International Finance Corporation
TradeDepot Ser.B
TradeDepot Inc (TradeDepot or the Company) is a fast moving consumer goods (FMCG) distribution platform that aggregates informal retailers on a digital platform and connects them directly to FMCG distributors and manufacturers, thus enhancing visibility and efficiency across the FMCG value chain. In addition, TradeDepot has launched an embedded finance product, through which informal retailers can access working capital for their purchases on the TradeDepot platform. The Company has a
IFC anticipates that the Project Outcomes are Very Strong, derived from improved access to supply chain for small retailers in Nigeria, by expanding in Tier 2+ cities, where retailers face frequent inventory shortages due to more challenging access to market than their counterparts in Tier 1 cities, and continuing expansion in Tier 1 cities. These outcomes would be achieved by scaling up an online platform that connects retailers with suppliers and has the potential to result in improved efficiency for retailers as the Company ensures reduced procurement costs and on-time delivery, compared to offline supply chain solutions. In line with IFC's initial investment in TradeDepot, a significant number of new retailers are expected to be women, thereby contributing to alleviate the gender divide in the Nigerian economy. Beyond the Project, the Contribution to Market Creation is Strong, as this investment is expected to increase the inclusiveness of retail supply chains in Nigeria, via demonstration and replication channels. The Company is introducing a business model that involves the use of basic mobile telephony and the provision of embedded finance to reach underserved retailers, especially in Tier 2+ cities. A successful expansion is expected to demonstrate the commercial viability of this business model and trigger replication by competitors, thereby enabling availability of online supply chain solutions in Tier 2+ cities, beyond the Company. Overall, the Project has an Anticipated Impact Measurement and Monitoring (AIMM) rating of Excellent, based on an AIMM score of 74. On an unadjusted basis (i.e. without likelihood factor), the full AIMM score could reach 88.
TRADEDEPOT INC
TradeDepot Inc. Onyekachi Izukanne Chief Executive Officer +234 700 999 0000 enquiries@tradedepot.co 3/4 Adewunmi Industrial Estate, Kudirat Abiola Way, Oregun, Lagos https://www.tradedepot.co
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 TradeDepot Inc. , 3/4 Adewunmi Industrial Estate, Kudirat Abiola Way, Oregun, Lagos
Nigeria
The Company is registered in Delaware and headquartered in Lagos, Nigeria and additionally operates Accra in Ghana and Johannesburg in South Africa.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
E-BD - Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)
Total: $10.00 million
10000000.00
10000000.00
TRADEDEPOT INC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45601/tradedepot-ser-b
XM-DAC-903-SII-44399
International Finance Corporation
ISCMicrotraction
IFC is considering an investment of up to US$3 million in Microtraction Fund II (the Fund) through the Startup Catalyst Program. Microtraction Fund II is a $15 million seed stage fund focused on pre-seed and seed stage investments in tech and tech-enabled businesses in Sub Saharan Africa. The Fund will be supported by the Blended Finance Facility (BFF) of the IDA18 IFC-MIGA Private Sector Window (IDA PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states.
IFC anticipates that the project would result in increased access to pre-seed stage equity and increased ability for startups to scale operations and receive follow-on funding in Nigeria and other IDA/FCS countries across Sub Saharan Africa. The Project also has potential to increase the competitiveness of the local start-up ecosystem and venture capital by increasing the activity and interest from a variety of stakeholders within the tech and startup ecosystem.
MI HOLDING LIMITED
MI Holdings Limited Dayo Koleowo Managing Partner +2348067421700 partners@microtraction.com Lakepoint Tower B, 9th Floor 403 Close, Banana Island, Lagos. Nigeria https://www.microtraction.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Fund is based in Nigeria and will be making investments across high growth markets in Sub Saharan Africa.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
P-BB - Venture Capital Fund
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/44399/iscmicrotraction
XM-DAC-903-SII-46313
International Finance Corporation
ISC VP Fund IV
The investment proposal is for up to US$5 million in equity into Ventures Platform Fund IV (the Fund), an African seed fund that is raising US$30 million to make early-stage investments, primarily in Nigeria and the Rest of Africa. The Fund is focused on making early-stage investments (pre-seed to series A) in tech and tech-enabled startups targeting the mass market in Africa. The Fund had a first close in December 2021 of US$14.9 million. The Fund will be supported by the Blended Finance Facility (BFF) of the IDA 19 IFCMIGA Private Sector Window (IDA PSW), created by the Word Bank Group to catalyze private sector investment in IDA countries, with a focus on fragile and conflict-affected states.
The Project follows the AIMM (Development Impact) Rating for the Startup Catalyst Envelope.
IFC anticipates that the Project would result in increased access to seed stage equity for digital startups in Nigeria, Kenya, Egypt, and Rwanda, countries where venture capital availability has increased in recent years, although challenges for seed- and early-stage startups, especially in Rwanda, persist and continue to deter their establishment. The Project is also expected to increase the ability for startups to succeed and scale digital businesses, through the Funds mentorship and window for follow-on funding.
Beyond the Project, this investment is expected to contribute to developing the start-up ecosystem and venture capital market in Nigeria and other operating markets, by demonstrating the commercial viability of the VC fund model in the country. IFCs support also enables creation of a constant and quality pipeline of investment opportunities that investors at Series A stage and beyond depend upon.
VENTURES PLATFORMS LIMITED
Ventures Platform IV GP Limited Kola Aina Managing Partner +2348172046486 kola.aina@venturesplatform.com 29 Mambilla Street, Off Aso Drive, Three Arms Zone, Abuja, Nigeria www.venturesplatform.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Ventures Platform Fund IV is established as a limited partnership registered in Guernsey however investments by the Fund will be primarily in Nigeria and opportunistically, in Rest of Africa.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
P-BB - Venture Capital Fund
Total: $30.00 million
30000000.00
30000000.00
VENTURES PLATFORMS LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/46313/isc-vp-fund-iv
XM-DAC-903-SII-45971
International Finance Corporation
WCS CR Zenith
The project consists of a Working Capital Solutions (WCS) facility to Zenith Bank Plc. (Zenith Bank or the Bank) of up to US$250 million. The facility will have a maturity of up to 3 years and will complement the existing FIG COVID-19 Emergency Response WCS facility (Project# 43988) that was committed in June 2020 and rolled over in June 2021. The project will enable the Bank to provide working capital and trade finance facilities to enterprises in Nigeria, including MSMEs impacted by COVID-19.
The most significant project outcome will be access to working capital finance/liquidity to Zenith Bank and through Zenith Bank, its customers. The IFC facility will support Zenith Banks capacity to sustain its customers operations and to expedite post-crisis recovery. The project is also expected to help preserve Nigerias private sector by supplying foreign currency working capital to support operations of businesses during the crisis, thus making it more resilient.
ZENITH BANK PLC
Zenith Bank Plc Ihinosen Ohiwerei FX Personnel, Financial Institutions Group +23480346745 Ihinosen.Ohiwerei@zenithbank.com P.O Box 75315, Victoria Island, Lagos, Nigeria https://www.zenithbank.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project is located in Nigeria, where the bank primarily operates through an extensive network of 395 branches and 133 cash centers across the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AH - Commercial Banking - SME Finance
Total: $250.00 million
250000000.00
250000000.00
ZENITH BANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45971/wcs-cr-zenith
XM-DAC-903-SII-46132
International Finance Corporation
WCS FSDH Merchant Bank
The project consists of up to US$35 in total financing in the form of an up to US$15 million trade finance guarantee facility under the Global Trade Finance Program (GTFP) for transactions with tenor up to 6 months and an up to US$20 million senior loan under the COVID-19 Emergency Response WCS Envelope (WCS Envelope) for working capital and trade-related loans to Small and Medium Enterprises (SMEs) including Women-owned Small and Medium Enterprises (WSMEs).
The most significant, expected project-level outcome is to provide increased access to working capital and trade finance to borrowers of the Bank (SMEs and corporates) during a time of crisis. Beyond the project, IFC anticipates that its financing will promote greater market resilience by supporting the flow of liquidity in Nigeria and strengthen the markets ability to absorb shocks imposed by the current crisis.
FSDH MERCHANT BANK LIMITED.
FSDH Merchant Bank UAC House Managing Director +234-12702880 contact@fsdhgroup.com UAC House (4th Floor), 1/5 Odunlami Street, Lagos. Directions https://fsdhmerchantbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project is located in Lagos, Nigeria. FSDH Merchant Bank operates a network of three branches across three cities in Nigeria and a workforce of 135.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AK - Commercial Banking - Trade and Supply Chain
Total: $20.00 million
20000000.00
20000000.00
FSDH MERCHANT BANK LIMITED.
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/46132/wcs-fsdh-merchant-bank
XM-DAC-903-SII-45757
International Finance Corporation
FCS Risk Envelope Bar Magen
The proposed investment consists of a senior secured A Loan of up to USD 4.5 million to Bergman Industries Limited (BM Group or the Group), leading animal feed premix manufacturer and feed additives distributor with operations in Israel and Nigeria. The investment will support BM Groups USD 4.9 million expansion in Nigeria in (i) increasing premix production capacity by 3000MT and concentrates production capacity by 2000MT in Nigeria; (ii) increasing the warehouse capacity by 2,600 m2; (iii) setting up a state-of-the-art laboratory; (iv) expanding the on-ground technical support team and enhancing the market outreach; and (v) meeting permanent working capital (together, the Project).
The Project claims are stakeholders (farmers) as the primary claim via the provision of increased access to quality and affordable animal feed additives, and economy-wide effects on value added and job creation as the secondary claim. Beyond the project level, IFC expects the investment to promote market competitiveness in the livestock sector in Nigeria, by strengthening, through local production, the availability of key feed complements, such as salt licks, mineral blocks, and concentrates.
BERGMAN INDUSTRIES LIMITED
Bergman Industries Limited Amir Nathan Co-Chief Executive Officer +972 97603020 amir@bar-magen.com Industrial Park Emek Hefer, P.O. Box 12115, Israel 3877701 www.bar-magen.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Ami Nathan, Co-Chief Executive Officer Industrial Park Emek Hefer, P.O.Box 12115, Israel 3877701
Nigeria
The Project will be located in Ibadan, Nigeria within the existing land and area of operation where the Group has warehouses, premixes and concentrates production lines.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-DD - Other Agricultural Chemicals (Pesticides, etc.)
Total: $4.50 million
4500000.00
4500000.00
BERGMAN INDUSTRIES LIMITED
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45757/fcs-risk-envelope-bar-magen
XM-DAC-903-SII-45332
International Finance Corporation
DCM Access Bank Total Return Swap
The proposed project consists of a senior secured US$-denominated financing of up to US$150 million to Access Bank Plc (the Bank), the largest commercial bank in Nigeria by total assets. The project will enable the Bank to provide working capital and trade finance facilities to enterprises in Nigeria, including Small and Medium Enterprises (SMEs).
The project is expected to support the Bank's trade finance business and its capacity to sustain its customers' operations by improving access to stable US$ liquidity / working capital, and thus to benefit the value chains of exporters and other domestic players.
Plover SARL
Access Bank Plc Seun Bamidele Olufeko Group Head, Project & Structured Finance 234 70 60 41 41 23 Seun.Olufeko@accessbankplc.com Plot 14/15, Prince Alaba Oniru Street, Oniru Estate Victoria Island, Lagos, Nigeria www.accessbankplc.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Federal Republic of Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $50.00 million
50000000.00
50000000.00
Plover SARL
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45332/dcm-access-bank-total-return-swap
XM-DAC-903-SII-45661
International Finance Corporation
BUA Cement P1
BUA Cement PLC (BUA or the Company) owns and operates two cement plants i.e., one in Sokoto State, northwestern Nigeria known as the Kalambaina plant, and another one in the Edo State, in southern Nigeria. BUA is a listed company on the Nigerian Stock exchange, and one of the largest companies by market capitalization in the country. The project is BUAs expansion of the Sokoto Kalambaina plant (SKP) (the Project). The Project includes i) expanding cement production capacity by 6 MTPA by constructing two modern, large-scale integrated cement lines i.e., lines 4 and 5 ii) constructing 120 MW (existing 50 MW plus new 70 MW) of captive gas-based power plants; iii) installing a 10 MW solar power plant; iv) expanding the cement distribution fleet; v) expansion of quarry operations including equipment and machinery to increase associated operations; vi) constructing additional storage silos, vii) building infrastructure in support of the use of liquified natural gas (LNG) allied to additional diesel storage tanks, and viii) working capital. Project implementation and construction is already ongoing.
Through the proposed investment, IFC will support a leading cement manufacturer in Nigeria improve access to good quality cement at affordable prices in Northern Nigeria and neighboring land locked countries. IFC's
additionality in this Project comes in two forms: (i) Economy wise and employment effects in the form of contributing to GDP by supporting domestic value addition to available natural resources (i.e., limestone and clay) and creating direct and indirect jobs ; and (ii) Improved access and sustainability in the form of eliminating longdistance trips to source cement for customers in Sokoto and other northern regions as well as support cleaner power generation solutions not widely present in the northern parts of Nigeria. The Project will also include provisions of IFC's value-add advisory services as outlined above.
BUA CEMENT PLC
BUA Cement Plc Suleiman Akilu Technical Assistant to MD / CEO +234 14610669-70 suleiman.akilu@buacement.com 5th Floor BUA Towers - PC 32, Churchgate Street, V/I, Lagos, Nigeria www.buacement.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 5th Floor BUA Towers - PC 32, Churchgate Street, V/I, Lagos, Nigeria
Nigeria
Kalambaina, Sokoto State, Northern Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
H-AA - Cement
Total: $210.00 million
210000000.00
210000000.00
BUA CEMENT PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45661/bua-cement-p1
XM-DAC-903-SII-46233
International Finance Corporation
GTFP Providus B.
The proposed project consists of a US$10mn GTFP facility for Providus Bank to cover trade transactions with a door-to-door tenor of up to 6 months. This facility will allow the bank to grow its trade finance business, support the import substitution initiative, access foreign exchange where required as well as create access to a wider network of confirming banks.
Project Impact:
Stakeholder Effects: Access to Trade Finance for SMEs in Nigeria IFCs GTFP will provide trade finance support to Providus Bank and consequently to the Banks customers thereby promoting trade for both corporates and SMEs in Nigeria. By joining the GTFP, the Bank will have access to a network of 400 confirming banks. This is expected to help boost the profile of the Bank and open doors for more future engagements with the confirming banks beyond trade. This Project will consequently allow the Bank to offer better terms to its clients which includes SMEs.
Contribution to Market Creation:
Resilience: GTFP builds, protects, and deepens trade finance networks in lower income/IDA and fragile and conflict-affected countries, by continually enabling individual trade transactions to take place, which slowly builds resilience of trade networks, trade, and income to these economies. This support is especially critical in the maintenance of liquidity and essential goods when the market is facing shocks (most recently triggered by COVID-19). GTFP also ensures that the flow of essential goods and finance is maintained, preventing a potential crisis and further building resilience in the market.
PROVIDUSBANK PLC
Providus Bank Olugbile Erinwusi Chief Risk Officer +234 700 7768 4387 OErinwusi@providusbank.com Plot 724, Adetokunbo Ademola Street, Victoria Island, Lagos, Nigeria www.providusbank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 N/A
Nigeria
Providus Bank is headquartered in Lagos, Nigeria. The Bank operates a network of 11 branches in 6 states in Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AD - Commercial Banking - Trade
Total: $500.00 million
500000000.00
500000000.00
PROVIDUSBANK PLC
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/46233/gtfp-providus-b
XM-DAC-903-SII-47723
International Finance Corporation
Indorama Eleme Fertilizer-III
The Indorama Corporation (Indorama or the Group), a Singapore-based holding company, is a long standing, repeat IFC client. Over the last 3 decades, IFC has supported Indoramas entry into high-risk markets, helping it grow from a mid-sized, domestically focused business into one of the worlds fastest growing petrochemical and fibre companies. In June 2016, Indorama successfully completed a 1.4 million metric ton per annum (MMTPA) urea fertilizer facility (Line 1) in Nigeria via Indorama Eleme Fertilizer and Chemicals Limited (IFL or the Company), making it the first major fertilizer export plant in Nigeria and one of the few in Africa. For Line 1, IFC provided a US$150 million (mn) A Loan, a US$75mn B Loan and mobilized US$150mn from several development finance institutions (DFIs). IFL constructed a second urea fertilizer line located at the same site as Line 1, which increased capacity from 1.4 MMTPA to 2.8 MMTPA (Line 2). To support Line 2, IFC arranged in June 2018, financing totalling US$1 billion (bn), comprising of US$120mn A Loan, US$550mn B Loan, and US$330mn parallel loans. Line 2 was completed in April 2021. Both Line 1 and 2 projects are in operation, with capacity to produce a combined 2.8 MMTPA of urea. IFC also financed the construction of a Feed Conditioning Unit (FCU), an add-on gas processing facility to Line 2. IFC provided a US$35mn A Loan and mobilized US$115mn in B/Parallel loans from commercial banks and other DFIs. Indorama is now planning the construction of a third urea fertilizer line within the same complex as Lines 1 and 2 in Port Harcourt, Nigeria, which will increase current capacity from 2.8 MMTPA to 4.2 MMTPA (Line 3). A dedicated jetty/port terminal with sufficient capacity to export all the Line 3 urea, and to be located approximately 20 kilometres from the IFL site, is also planned (Line 3 Jetty) (Line 3 and Line 3 Jetty together the Project).
The Project will promote (i) increase in value addition and export revenue for the Nigerian economy; (ii) direct and indirect employment; (iii) strong environmental sustainability by redirecting polluting wasted flared gas to productive use as feedstock; (iv) improvement in accessibility and supply of quality fertilizer to farmers; and (v) the resilience of the global food supply market through increased availability of urea.
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Indorama Eleme Fertilizer & Chemicals Limited (IFL) Mr. Rahul Moondra Senior Manager - Finance +2348129130097 infoprojectsii@indorama.com.ng Indorama Complex, East West Expressway, Eleme, P.M.B. 5151, Port Harcourt, Rivers State, Nigeria https://www.indoramafertilizers.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Location: Rivers State Address: Headquarters, Eleme Local Government Area, Eleme, Rivers State, Nigeria
Nigeria
Port Harcourt, Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-DA - Nitrogenous Fertilizer
Total: $285.00 million
0.00
285000000.00
0.00
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
285000000.00
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/47723/indorama-eleme-fertilizeriii
XM-DAC-903-SII-46937
International Finance Corporation
Johnvents Cocoa
The proposed investment is a senior secured A Loan of up to US$23.3 million to Johnvents Industries Limited (Johnvents or the Company), a Nigerian cocoa processing and trading company. The investment will support the Companys US$46.1 million expansion plan in (i) increasing production capacity to 120 metric tons per day cocoa processing capacity; (ii) expanding gas power plants; (iii) fleet acquisition; and (iv) working capital (together, the Project).
The Project has an AIMM rating of Good, based on an AIMM score of 61. On an unadjusted basis (i.e., without the likelihood factor), the full potential AIMM score could reach 70.
The Project outcomes rating is Very Strong with High likelihood of achievement. The likelihood assessment is based on the predicted growth in demand for cocoa and cocoa-related products globally, the Company's leading position in the local market, and the favorable outlook of the regulatory environment. Project outcomes are composed of the following:
Stakeholder farmer suppliers: IFC expects that the Project will improve farmers' livelihoods through increased cocoa sourcing and technical and financial assistance.
Economy-wide effects: IFC expects that the project will lead to an annual increase in GDP of US$106 million starting in 2027. The project is also expected to create over 1,748 direct, indirect, and induced jobs along the value chain, with 197 permanent jobs being created directly through the expansion of processing capacity, and additional jobs in input provision, technical assistance, and supplies and services for the cocoa processing plants.
The market creation rating is Moderate with Medium likelihood of achievement. The likelihood is supported by the large untapped potential of cocoa processing capacity in the country, and the favorable projection of global demand for sustainably and transparently sourced cocoa products, which together provide comfort on the potential growth of Nigerias cocoa industry. The likelihood is tempered by the intensive investments required to establish and operate cocoa processing plants and for other market players to adapt a similar business model in the country. The Projects contribution to market creation is as follows:
Competitiveness - IFC expects the Project will have a positive impact on Nigerias cocoa industry competitiveness through the support to the Companys processing capacity expansion and increase the volume of sustainable and traceable cocoa production.
JOHNVENTS INDUSTRIES LIMITED
Johnvents Industries Limited John Alamu Founder/ Group Managing Director +234 8165873186 j.alamu@capitalsage.ng 2 Ademiluyi Close, Kongi, New Bodija, Ibadan, Oyo, Nigeria https://johnvents.com/
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 John Alamu, Group Managing Director 2 Ademiluyi Close, Kongi , New Bodija , Ibadan, Oyo, Nigeria
Nigeria
The Project will be located within the existing land area of the Companys operations situated in the city of Akure, the capital of the state of Ondo, Nigeria; where the Company has warehouses and existing cocoa processing facilities.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
A-AD - Coffee, Cocoa, Tea
Total: $14.80 million
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/46937/johnvents-cocoa
XM-DAC-903-SII-45682
International Finance Corporation
Tolaram Lagos FZ Equity
The proposed Project consists of a financing package made up of (i) an equity commitment of up to US$ 50 million and (ii) a corporate finance loan of up to US$100 million in favour of Lagos Free Zone Company (LFZC or the Company) which is a Special Economic Zone (SEZ) covering an area of 842hectares in Lagos, Nigeria.
The most significant expected project-level outcomes are stakeholder effects through increased access to high-quality industrial spaces for tenants, capacity building for suppliers, and economy-wide effects through creating high-quality formal jobs and economic value-add. Beyond the Project, IFC anticipates the investment to have the potential to promote the integration of domestic firms in Nigeria to international markets and improve the connectivity of the Lekki peninsula axis of Lagos state, by supporting the development of a large scale Special Economic Zone project in Nigeria with demonstration potential.
LAGOS FREE ZONE COMPANY
Lagos Free Zone Company Ashish Khemka Chief Finance Officer +234 1 4620912 Ashish.khemka@lftzc.com LFZC, Block A, Nipost Office Towers 23, Adeola Odeku Street Victoria Island, Lagos, Nigeria www.lagosfreezone.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
0 0 0 0 0 0 0 0 0.0000 Ashish Khemka Chief Finance Officer Phone number: +234 1 462 0921 Email: Ashish.khemka @lftzc.com
Nigeria
The Project is located in Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
other
Summary of Investment Information
Summary of Investment Information - Anticipated Impact Measurement & Monitoring (AIMM) Assessment and Main Environmental & Social Risks and Impacts of the Project
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SII/45682/tolaram-lagos-fz-equity
XM-DAC-903-SPI-10090
International Finance Corporation
AEF Oha Motors (Nigeria) Limited
Summary Of Project Information (SPI) Project NameNigeria - AEF-Oha Motors (Nigeria) Limited RegionSub-Saharan Africa Sector Project No010090 Projected Board DateMay 18, 2000 Company NameOha Motors (Nigeria) Limited Technical Partner and/or Major Shareholders Major Shareholders: The project is sponsored by Oha Motors Nigeria Limited, a private limited liability company established in 1994. The shareholding is as follows: Chief Iloanusi Ohamadike 25% Mrs. Roseline Ohamadike 25% Mr. Uche Ohamadike 25% Mr. Anthony Ohamadike 25% 100% The major sponsor, Mr. Uche Ohamadike, 37, a chemical engineer and businessman. He was educated at the College of Technology, Enugu, Nigeria. Before venturing into motor business, he worked for his father, Chief Iloanusi Ohamadike in his motor spare parts retail outlets from where he developed the bus operations. Oha Motors is an offshoot of Oha Nigeria Limited, a spare parts trading Company managed by his father. The project has no technical partner. Project Cost Including proposed IFC investment The total project cost is estimated at US$2.4 million equivalent. The proposed IFC investment is a loan of US$900,000. Location of project and Description of site The project consists of bus transportation between two bus stations, Lagos and Abuja, buses plying between them. The bus stations will have normal facilities for passengers and administrative offices. Description of Company and Purpose of Project The project entails the purchase of six 55-Seater buses to start the Lagos/Abuja route. The company operated as Oha Nigeria Limited, a motor spare parts retail trading company until July 1999 when the transport business was separated from the trading company. The companies are family owned. The company plans to acquire six (6) new 55-seater buses to expand the company''s inter-state transportation business by starting the Lagos-Abuja route. Oha buses currently ply between Lagos and Onitsha, Enugu, Owerri, Aba and Port Harcourt. IFC will be providing a loan with long-term maturity, which is currently unavailable in the Nigerian market. Public transportation in Nigeria is presently under-served. Attempt by the Federal Government through the Federal Urban Mass Transit Authority (FUMTA) has failed. IFC will help develop a sector dominated by the private sector and vital to the economy. About 35 additional jobs will be created. The project will provide a service that will contribute to infrastructure development in Nigeria. Environmental Category and Issues This is a Category B project. Key environmental, health and safety issues include: Site location and potential pre-existing contamination; Water supply and sustainability; CFC free equipment; Fuel and other chemicals storage (including secondary containment and leak detection)Waste management including sewage, liquid, solid and hazardous waste; Control of vehicles air emissions and maintenance. General occupational health and safety; Equipment safeguarding; Fire prevention and emergency response preparedness; and Employee exposure to noise and chemical substance. Based on its review of the environmental information provided by Oha Motors, IFC concludes this project will be operated in a manner that meets all pertinent Government of Nigeria requirements and all relevant World Bank Group policies and environmental, health and safety guidelines. The Environmental Review Summary is available from the InfoShop. Host country location of environmental documentsFederal Environmental Protection Agency (FEPA) 1. FEPA Abuja Office Airport Road, Abuja, FCT. Phone: 090-802-479, Fax: 09-5235510 2. FEPA Lagos Office Federal Ministry of Environment Bishop Powell Street Games Village Opposite Ministry of Works Off Bode Thomas/Eric Moore Surulere, Lagos Phone: 5851570-1, 5850120, 5850122-4 Date SPI sent to InfoShop April 18, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Oha Motors (Nigeria) Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AD - Transit and Ground Passenger Transporation
Total: $0.90 million
900000.00
900000.00
Oha Motors (Nigeria) Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10090/aef-oha-motors-nigeria-limited
XM-DAC-903-SPI-10105
International Finance Corporation
AEF Safety Center International Limited
Summary Of Project Information (SPI) Project NameNigeria AEF Safety Center RegionSub-Saharan Africa Sector Project No10105 Projected Board DateMay 22, 2000 Company NameSafety Center International Limited Technical Partner and/or Major Shareholders The project is sponsored by Mr. Jobst Kruttke, a 60-year old engineer from Hamburg in Germany. After his training he spent 9 years working in various roles for engineering companies before his appointment as managing partner for ENCON Maschinen- und Anlagenbau GmbH, where he worked for 22 years. ENCON specialized in the design, delivery, installation and management of complete industrial plants for ceramic and plastic processing industry. Through this company he worked on various turn-key projects in Nigeria. In 1988 he left to co-found Intertec Industries Services GmbH, Hamburg supplying industrial spare parts for maintenance and providing logistics services to oil companies in Nigeria and in 1997 he became the Managing Director of Intertec Engineering (Nig) Limited. He is well known in the oil companies, NNPC, PPMC and the finance industry. Mr. Kruttke will be the major shareholder with 39% of the company. The project has no technical partner. Project Cost Including proposed IFC investment Total project cost is estimated at US$2.0 million. IFC has been asked to provide a loan of US$.5 million and equity of US$.04 representing 27% total project cost. Location of project and Description of site The project will be located at Omuolo-Omagwa Village, Ikwerre Local Government Area, Port Harcourt, Rivers State, Nigeria. The area is close to the Port-Harcourt International airport and well served with essential infrastructural facilities such as electricity, security, access roads, telecommunications, accommodation and medical facilities. Description of Company and Purpose of Project Safety Center International Ltd. will be incorporated in Nigeria with the objective to train safety and fire fighting personnel in the use of Self Contained Breathing Apparatus (SCBA) and maintain safety instruments and equipment for oil companies. The project is to set up the first training center in Nigeria at Port Harcourt to train fire brigade and safety personnel on how to use SCBA when operating under fire and other hazardous conditions. This training will certify, standardize and improve the ability of safety and fire operators to rescue victims of fire and other tragic incidence trapped in difficult location. The training center will use Simulation Tunnel (ST) designed and built based on the Training Gallery concept of Drager Sicherheitstechnik GmbH, Germany, a world-wide market leader in the fire protection and safety industry which has experience of building over 200 similar galleries in various parts of the world. IFC is one of the few lenders able to provide long-term finance to projects in Nigeria and its participation in this project enhances the prospects of it being implemented. The project will have the following development impacts: (a) Increase number of SCBA wearers: t will positively impact the fire safety and protection industry by increasing the number of qualified SCBA wearers that can save lives. The current ratio of 1 safety personnel to 100,000 citizen is poor. (b) Foreign currency earner: it will provide opportunity for other countries within West African region to train fire and safety personnel and in the process earn foreign currency. The nearest facility is in South Africa and Oman (c) Life Saving: currently very few firemen wear SCBAs when on mission, the project will expose them to tactical training that would protected them from hazardous fumes and improve their ability to carry out rescues in life threatening incidence and hopefully prevent further unnecessary loss of lives. (d) Technology Transfer: the training center would be an exact replication of other facilities already built Germany and other parts of the world. (e) Demonstration model: this project will serves as a demo for other facilities that may eventually be built in other parts of the country. Environmental Category and Issues This is a category B project according to IFC''s environmental and social review procedure. Environmental issues associated with this project include: Site location and prior use; water and power supply; handling and storage of chemicals; sewage and liquid effluent treatment and disposal; solid waste and hazardous waste disposal; CFC equipment; fuel storage ; air emissions; employee training on health and safety; fire protection, life safety and emergency response measures. There will be not storage of chemical on site and no process waste water; sewage will be disposed of in a septic tank. A company environmental policy will be drafted models developed by Schell. The guidelines for health and safety will be those currently used by Shell for its Petroleum Platforms in Nigeria. Based on its review of available information regarding potential environmental impacts and the measures described above, IFC concludes that the proposed project will be in compliance with World Bank Group and IFC policies and with World Bank Group environmental, health and safety guidelines in force at the time of appraisal. IFC will monitor ongoing compliance during the life of the project by evaluating monitoring reports submitted annually to IFC by the sponsor and by conducting periodic site reviews during project supervision. The is from the InfoShop. Host country location of environmental documentsSafety Center International Limited offices 314, Aba Road, Rumukurushi, Port Harcourt, River State Nigeria Date SPI sent to InfoShop April 20, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
SAFETY CENTRE INTERNATIONAL LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Other Training
Total: $0.58 million
500000.00
80000.00
500000.00
SAFETY CENTRE INTERNATIONAL LIMITED
80000.00
SAFETY CENTRE INTERNATIONAL LIMITED
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10105/aef-safety-center-international-limited
XM-DAC-903-SPI-10132
International Finance Corporation
FSB INTERNATIONAL
Summary Of Project Information (SPI) Project NameNigeria - FSB RegionSub-Saharan Africa Sector Project No010132 Projected Board DateApril 28, 2000 Company NameFSB International Bank Plc Technical Partner and/or Major Shareholders The sponsor is FSB International Bank Plc., a leading commercial bank in Nigeria, with a wide network of 13 branches located in the major commercial centers of country. Project Cost Including proposed IFC investment IFC participation in the form of an A loan is estimated at US$15 million. Location of project and Description of site Nigeria. Description of Company and Purpose of Project The project involves an IFC term loan of up to US$15 million to FSB International bank Plc to be on-lent to private Nigerian enterprises for rehabilitation, project finance, trade finance, working capital and new investment projects. A portion of IFC''s loan will be convertible to equity to enable IFC to have a 10% stake in FSB when its privatization process is completed. A recent mission by both the World bank and IFC concluded that the provision of significant term-finance resources to Nigerias private sector is an immediate priority in reviving the country''s economy. The proposed investment is therefore intended to address some of this demand. IFC''s equity participation will depend on the completion of the privatization process, which culminates with the identification of a suitable partner. Environmental Category and Issues This is a Financial Intermediary (FI) Type 2 project according to IFC''s environment review procedure. FSB will be required to undertake an environmental review of each sub-project to ensure compliance with host country requirements, IFC environmental and social safeguard policies, and if applicable, World bank Group environmental, health and safety guidelines. IFC will assess the Bank''s capability to carry our environmental reviews. FSB must obtain IFC clearance prior to making any investment with IFC funds in any category A project. Date SPI sent to InfoShop March 28, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
FIDELITY BANK PLC
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $22.50 million
22500000.00
22500000.00
FIDELITY BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10132/fsb-international
XM-DAC-903-SPI-10156
International Finance Corporation
Investment Banking and Trust Company Limited
Summary Of Project Information (SPI) Project NameNigeria - IBTC RegionSub-Saharan Africa Sector Project No010156 Projected Board DateMay 23, 2000 Company NameInvestment Banking & Trust Company Ltd. Technical Partner and/or Major Shareholders The sponsor is Investment Banking & Trust Company Ltd. (IBTC). IBTC is a merchant/investment bank established in 1989 as a limited liability company in Lagos, Nigeria. The bank is owned and managed by private sector Nigeria citizens. The major shareholders of the bank are its management and staff. Project Cost Including proposed IFC investment IFC participation is an A loan estimated at US$ 20.0 million. Location of project and Description of site IBTC is located in Lagos, Nigeria. Description of Company and Purpose of Project IBTC has established itself as the leading providers of wholesale banking and financial services products in the Nigerian market and has a strong market share in the areas of its specialization including mergers & acquisitions, divestitures, corporate, project and trade finance as well as in general corporate restructuring. The project involves an IFC term loan of up to US$20.0 million to IBTC to be on-lent to private Nigerian enterprises for rehabilitation, project finance, trade finance, working capital and new investment projects. A recent mission by both the World bank and IFC concluded that the provision of significant term-finance resources to Nigerias private sector is of an immediate priority in reviving the country''s economy. The proposed investment is therefore intended to address some of this demand. The project is part of an overall IFC/World Bank strategy to strengthen Nigeria''s financial sector with the provision of term resources, capacity building, equity participation and technical assistance. Environmental Category and Issues This is a Financial Intermediary (FI) Type 2 project according to IFC''s environment review procedure. IBTC will be required to undertake an environmental review of each sub-project to ensure compliance with host country requirements, IFC environmental and social safeguard policies, and if applicable, World bank Group environmental, health and safety guidelines. IFC will assess the Bank''s capability to carry our environmental reviews. IBTC must obtain IFC clearance prior to making any investment with IFC funds in any category A project. Date SPI sent to InfoShop April 14, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
STANBIC IBTC BANK PLC
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
STANBIC IBTC BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10156/investment-banking-and-trust-company-limited
XM-DAC-903-SPI-4720
International Finance Corporation
AEF Bailey Bridges (Nigeria) Limited
Summary Of Project Information (SPI) Project Name Nigeria-Bailey Bridges (Nigeria) Limited Region Sub-Saharan Africa Sector Project No004720 Projected Board DateMarch 29, 1996 Company NameBailey Bridges (Nigeria) Limited Technical Partner and/or Major Shareholders Bailey Bridges Limited is owned in equal proportions by four Nigerians and a British citizen. Messrs. Tete Mbuk and Ikpeme are the principal sponsors. Technical partner is Adasco UK Limited; a company incorporated by the shareholders of Bailey Bridges to handle foreign liaison for Bailey Bridges. Project Cost Including proposed IFC investment Total project cost is estimated at N45.2 million (US$532,000 equivalent). IFC has been asked to provide a loan of US$117,000. Location of project and Description of site The pontoon will operate across the Orashi River, about 1-1/2 hours drive from Port Harcourt in Rivers State, Nigeria. Description of Company and Purpose of Project The Company specializes in the supply, installation and operation of prefabricated steel bridges for the oil industry for access to on-shore oil field locations. The Company recently diversified into the hiring of ferry pontoons to the oil industry. The proposed project is to purchase, install and operate a 110 MT pontoon ferry for Nigeria Agip Oil Company under a three year contract. The project will strengthen an indigenous company in the oil service sector, and provide new opportunities for employment. The surrounding villages will benefit from the pontoon operation through free transportation across the river. By providing financial assistance to Bailey Bridges, IFC will develop indigenous entrepreneurship in a large, lucrative sector. Environmental Category and Issues This is a category B project. The main environmental issues include fuel storage, recycling, proper disposal of all motor fluids, safety around heavy equipment, proper disposal of bilge waste, fire safety, provision of life preservers and life boats as appropriate, and emergency response preparedness. The sponsors have agreed to conform to World Bank environmental guidelines. According to the Environmental Division, no Environmental Review Summary was prepared for this project as its IPR approval predates the requirement for an ERS on AEF projects. Date SPI sent to PIC February 22, 1996 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Bailey Bridges Nigeria Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BA - Oil and Gas Transport or Pipeline
Total: $0.12 million
120000.00
120000.00
Bailey Bridges Nigeria Limited
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/4720/aef-bailey-bridges-nigeria-limited
XM-DAC-903-SPI-7267
International Finance Corporation
AEF Courdeau Catering Nigeria, Limited
Summary Of Project Information (SPI) Project Name Nigeria- Courdeau Catering Nigeria Limited Region Sub-Saharan Africa Sector Project No007267 Projected Board DateMarch 29, 1996 Company NameCourdeau Catering Nigeria Limited Technical Partner and/or Major Shareholders The project is sponsored by Courdeau Nigeria Ltd., under the C&C Group of Companies. The MD of Courdeau is Mr. R.R. Chagoury, a highly reputed Nigerian industrialist. Project Cost Including proposed IFC investment Total project cost is estimated at N140.2 million (US$1.65 million equivalent). IFC has been asked to provide a loan of US$660,000. Location of project and Description of site. The project is located at Trans Amadi, the industrial zone of Port Harcourt, Rivers State. Description of Company and Purpose of Project Courdeau Catering is a new company formed to serve as a preparatory and supply base to existing group catering business; and handle all catering contracts awarded to Courdeau. It will operate as a unit under Courdeau (Nig.) Ltd. Courdeau (Nig.) Ltd. is well established in the Nigerian industrial catering industry. Courdeau (Nig.) Ltd. presently provides large contract services to some of the major oil companies operating in Nigeria. The project will increase value added by processing food more efficiently through centralization. The project also provides new opportunities for employment. By participating in this project, IFC will strengthen the central kitchen concept, which is new in the Nigerian catering industry. Environmental Category and Issues This is a category B project. Environmental health and safety issues associated with this project include liquid and solid waste disposal, CFCs, housekeeping and hygiene, employee safety and training, and fire protection. The sponsors are preparing a management plan detailing how the key environmental issues will be addressed; and are committed to complying with applicable World Bank and local requirements. The Environmental Review Summary is expected to be available from the Public Information Center in or around March 15, 1996. Date SPI sent to PIC February 22, 1996 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Courdeau Catering Company Nigeria Limite
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AE - Other (Including Restaurants, Amusement Parks, etc.)
Total: $0.66 million
660000.00
660000.00
Courdeau Catering Company Nigeria Limite
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7267/aef-courdeau-catering-nigeria-limited
XM-DAC-903-SPI-7358
International Finance Corporation
AEF Mid-East Nigeria Limited
Summary Of Project Information (SPI) Project Name Nigeria-Mid-East (Nigeria) Ltd. Region Sub-Saharan Africa Sector Project No007358 Projected Board DateMarch 29, 1996 Company NameMid-East (Nigeria) Ltd. Technical Partner and/or Major Shareholders Mr. E.O. Chiemeka and family, all Nigerian nationals. Project Cost Including proposed IFC investment Project cost estimated at N28.3 million (US$332,706 equivalent). Equipment will be purchased from Gordon Simmonds Partnership, U.K. who will also provide Mid-East with technical support. IFC has been asked to provide a loan of US$184,000.00 equivalent. Location of project and Description of site The expansion will be at the Companys current factory site at MCC Uratta Road, Owerri, Imo State, Nigeria. Description of Company and Purpose of Project A family owned company which manufactures and installs Plaster of Paris (POP)(derived from gypsum) ceiling tiles. The project will expand production capacity from the current annual installed capacity of 40,000 square meters to 103,000 square meters. POP, the principal raw material, is available in Nigeria. IFC will provide a medium-term foreign currency loan to: (i) import equipment; (ii) increase use of local raw materials; (iii) help further develop an indigenous entrepreneur who has shown substantial initiative in moving away from trading. Environmental Category and Issues This is an environmental category B project. The environmental, occupational health and safety issues to be resolved on this project include liquid and solid waste disposal and recycling, worker exposure to dust and noise, fire protection and general plant safety. Liquid and solid waste disposal involve mainly semi-solid or solid gypsum. Gypsum will be deposited in a designated area and subsequently transported to the gypsum manufacturer for recycling. Worker exposure to dust will be accommodated by use of filter masks, appropriate clothing and footwear, ceiling fans, wash down showers and periodic health examinations. Noise is not an issue. All raw materials are incombustible. Fire protection and general plant safety will be met through fire extinguishers and measures noted above. IFCs Technical & Environmental Department concludes that the project is being designed to meet the Government of Nigerias requirements and World Bank policies and environmental, health and safety guidelines. The is Information Center. Date SPI sent to PIC February 22, 1996 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
MID EAST NIGERIA LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BD - Other (Including Gypsum Tiles)
Total: $0.13 million
130000.00
130000.00
MID EAST NIGERIA LIMITED
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7358/aef-mideast-nigeria-limited
XM-DAC-903-SPI-7883
International Finance Corporation
AEF The Moorhouse Company Limited (TMC)
SUMMARY OF PROJECT INFORMATION (SPI) Project Name: Nigeria - The Moorhouse Company Limited Sector: Hotel and Tourism Project No.: 007883 Projected Board Date: June 20, 1997 Company Name: The Moorhouse Company Limited (TMC) Description of Company and Purpose of Project: TMC is a Nigerian incorporated company to own (leasehold), implement and operate the project. TMC have acquired a 35-year lease from UNDP to refurbish and convert UNDPs guest house, located at Ikoyi, into a 42-room luxury hotel. The hotel will be ideal for diplomatic missions, other business and tourist travelers, and visiting UNDP staff. The hotel will provide five-star quality accommodation close to the center of commercial activity in Lagos. Technical Partner and/or Major Shareholders: TMC is owned by Messrs. Koye Edu and Gbolly Balogun. Mr. Edu is a partner in a legal firm, and Mr. Balogun manages Logomat which manufactures doormats with logos and messages inscribed. Devimco (ACCOR Group) have signed a management contract with TMC to manage and operate the hotel. Project Cost Including Proposed IFC Investment: Total project cost is estimated at N400 million (US$5.0 million equivalent). IFC has been asked to provide a loan of US$1.0 million and equity investment of US$0.3 million. Location of Project and Description of Site: Situated at Ikoyi, the hotel will take advantage of its proximity to first-class restaurants, a prestigious golf course, a health club, and other facilities in Ikoyi. Environmental Category and Issues: This is an environmental review category B project. Environmental and safety issues include sewage treatment/disposal, liquid and solid waste disposal, CFCs, fire safety measures, and employee training and general safety. The sponsor has presented relevant information which address all these issues, mainly for the fire prevention and life safety. IFC will ensure ongoing compliance with World Bank environmental, health and safety policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by the Moorhouse and by conducting periodic supervisions. The Environmental Review Summary has been available at the Public Information Center since May 8, 1997 Date SPI sent to PIC: May 15, 1997 For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
The Moorhouse Company Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Resort Hotel (Including Lodges)
Total: $1.35 million
1350000.00
1350000.00
The Moorhouse Company Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7883/aef-the-moorhouse-company-limited-tmc
XM-DAC-903-SPI-7964
International Finance Corporation
AEF Telipoint Nigeria Limited
SUMMARY OF PROJECT INFORMATION (SPI) Project Name Nigeria - Andchristie Company Limited Region Sub-Saharan Africa Sector Communication Project No 007964 Company Name Andchristie Company Limited Description of Company and Purpose of Project: Andchristie Company Limited is one of the five operators granted a license by the Nigeria Communications Commission to offer private telephone payphone services in Nigeria. This is consistent with the Governments philosophy of privatization. Successful operation of this payphone service will provide a much needed service to the public. Technical Partner and/or Major Shareholders: Andchristie Company Limited is owned by Dr. Folarin Gbadebo-Smith, a dentist turned entrepreneur. He runs a first-class dental clinic, and is non-executive chairman of Baker Marine Nigeria Limited which leases marine equipment to the oil industry. Dr. Smith will oversee the day-to-day management of the company. Project Cost Including Proposed IFC Investment: Total project cost is estimated at N36.6 million (US$0.426 million equivalent). IFC has been asked to provide a loan of US$180,000. Location of Project and Description of Site: The payphone service will be provided within the Lagos metropolis. Andchristie may expand to other zones in future. Environmental Category and Issues: This is a category B project according to IFCs environmental review procedure. Environmental and occupational health and safety issues associated with this project include: wireline right-of-way, waste disposal, PCBs, employee safety and training and office fire protection measures. ACL, does not have plans for land acquisition, or creation of any new right-of-way access. ACL will not handle or produce any hazardous materials or radioactive substances. Harmful solid or liquid wastes will not be produced, stored or release to the environment. ACL, does not currently have nor will it install electrical equipment containing PCBs. Workers safety programs are designed to comply with World Bank health and safety requirements and relate to training and provision of personal protective equipment. IFC will ensure ongoing compliance with World Bank guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by ACL, and by conducting periodic supervision. The Environmental Review Summary is expected to be available at the Public Information Center by March 14, 1997. Date SPI sent to PIC: March 11, 1997 For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
TELESUPRECON NIGERIA LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Fixed Telephony
Total: $0.18 million
180000.00
180000.00
TELESUPRECON NIGERIA LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/7964/aef-telipoint-nigeria-limited
XM-DAC-903-SPI-8095
International Finance Corporation
AEF E. Ekesons Brothers Nigeria Ltd.
SUMMARY OF PROJECT INFORMATION (SPI) Project Name Nigeria-Ekesons Limited Region Sub-Saharan Africa Sector Transportation Project No. 008095 Company Name E. Ekesons Brothers Nig. Limited Description of Company and Purpose of Project: Ekesons presently operates 66 long-distance luxury coaches between Lagos, Onitsha, Nnewi and Abuja. The Government, with its urban mass transit program, is encouraging private sector mass transit companies to improve the public transport system in the country. Ekesons will acquire 10 luxury buses to expand their transportation services and compliment the existing fleet. Technical Partner and/or Major Shareholders: Ekesons is a limited liability company established in 1982, with N8 million paid in share capital. It is family-owned. The principal sponsor, Chief E.E.N. Ojukwu is a Nigerian businessman, who owns a vehicle brake linings manufacturer, and a motor spare parts and motorcycle imports and sales company. Project Cost Including Proposed IFC Investment: Total project cost is estimated at N77 million (US$0.962 million equivalent). IFC has been asked to provide a loan of US$385,000 million. Location of Project and Description of Site: Buses acquired will travel between Lagos, Onitsha, Nnewi and Abuja. Environmental Category and Issues: This is a category B project according to IFCs environmental review procedure. Environmental and occupational health and safety issues associated with this project include: oil/fuel storage and spill prevention, disposal and recycling of used fluids and oils and employee training and fire protection. The used oils and solvents will be stored separately in safe tanks which then will be collected by NNCP and oil company, who will be responsible for recycling the oil and solvents in accordance with local regulations. As part of their safety policy, new employees must first be certified medically as being able to operate a vehicle. New employees are also trained by experienced drivers for a period of three months. Ekesons furnishes all of its vehicles with fire fighting equipment. Training and inspections of fire equipment is provided by the Federal and State Fire services. IFC will ensure ongoing compliance with World Bank environmental, health and safety policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by Ekeson and by conducting periodic supervisions. The Environmental Review Summary is expected to be available at the Public Information Center on March 14, 1997. Date SPI sent to PIC: March 11, 1997 For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 676-0365 P:\PIC\NGS08095.DOC March 11, 1997 8:20 PM Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
E. Ekesons Brothers Nigeria Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AD - Transit and Ground Passenger Transporation
Total: $0.39 million
390000.00
390000.00
E. Ekesons Brothers Nigeria Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8095/aef-e-ekesons-brothers-nigeria-ltd
XM-DAC-903-SPI-8301
International Finance Corporation
AEF Bailey Bridges (Nigeria) Limited
SUMMARY OF PROJECT INFORMATION (SPI) Project Name Nigeria - Bailey Bridges Nigeria Limited Region Sub-Saharan Africa Sector Mining and Extraction of Fuel Minerals Project No 008301 Projected Board Date: June 24, 1997 Company Name: Bailey Bridges Nigeria Limited Technical Partner and/or Major Shareholders: Bailey Bridges (BB) is owned, in equal proportions, by five Nigerians and a British citizen. The principal sponsors are Mr. Tete Mbuk and Group Captain David Ikpeme, a retired military officer and former state governor. Mr. Mbuk is a civil engineer, with 22 years of experience in engineering consulting and project management in the private sector. He manages the pontoon service with Group Captain Ikpeme. The technical partner is Adasco UK Ltd., a company incorporated by the shareholders of BB to handle foreign liaison for BB. Project Cost Including proposed IFC Investment: N177 million (US$2,082,000 equivalent), including a proposed IFC loan of US$833,000. Location of Project and Description of Site: The new pontoon will operate across Kwale River. Description of Company and Purpose of Project: Bailey Bridges (Nigeria) Limited (BB) has submitted a proposal to Nigeria Agip Oil Company (Agip) to acquire, install and operate a 150-ton Mabey Pontoon Ferry for a five-year period. Under an existing three-year contract with Agip, BB has purchased and operates a 110 metric-ton pontoon ferry. In October 1996, AEF provided a US$117,000 loan to BB to part finance the pontoon. As is the practice in the oil industry, part of the contract proceeds are expected to be paid in foreign currency to BBs offshore technical partner, Adasco Ltd., UK. Environmental Category and Issues: This is an environmental review category B project; principal issues involve fuel storage, recycling/proper disposal of all motor fluids, safety around heavy equipment, proper disposal of bilge waste and other solid and liquid waste, provisions of life preservers and lifeboats as appropriate, employee training, fire safety and emergency response preparedness. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements: BB will not store fuel on the Ferry. Training will be provided for employees to avoid any spills on the ferry or the River, The ferry will be equipped with life-vests, lifebuoys, life ropes, fire extinguishers and sand buckets. All personnel will be provided with safety boots, hand gloves, helmets, overalls and raincoats. Fire prevention and training programs will be conducted on a regular basis by the sponsor. IFC will monitor ongoing compliance with World Bank environmental, health and safety policies and guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by BB and by conducting periodic supervisions. The Environmental Review Summary is expected to be available on or about May 27, 1997 from the Public Information Center. Date SPI sent to PIC: May 23, 1997 For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711; facsimile: (202) 676-0365 P:\PIC\NGS08301.DOC May 23, 1997 12:10 PM Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Bailey Bridges Nigeria Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BA - Oil and Gas Transport or Pipeline
Total: $0.68 million
680000.00
680000.00
Bailey Bridges Nigeria Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8301/aef-bailey-bridges-nigeria-limited
XM-DAC-903-SPI-8320
International Finance Corporation
AEF Radmed Diagnostic Center Limited
SUMMARY OF PROJECT INFORMATION Project Name Nigeria-Radmed Diagnostic Center Region Sub-Saharan Africa Sector Medical Services Project No. 008320 Project Board Date August 28, 1997 Company Name Radmed Diagnostic Center Technical Partner and/or Major Shareholders: Incorporated in May 1991 as a Nigerian private limited liability company, Radmed commenced operations in 1993. It has 38 shareholders (all Nigerian individuals and companies). The principal promoter, Dr. A.A. Senbanjo, holds 13.2%; other respected persons in the medical, engineering and banking fields hold between 17.6% and 5.6% each. Project Cost Including proposed IFC Investment: N44 million (US$550,000 equivalent), including a proposed IFC loan of US$220,000. Location of Project and Description of Site: Radmed Diagnostic Center will move to a new location on Victoria Island, Lagos, Nigeria. Description of Company and Purpose of Project: Radmed Diagnostic Center Ltd., a diagnostic and medical laboratory, has operated on rented premises on Victoria Island, Lagos for four years. The project is the construction of a new building on Victoria Island to house its operations and acquire more equipment. It will be implemented in two phases: first, housing the existing center and moving therein; and second, the construction of consulting rooms and the purchase of an MRI scanner. Environmental Category and Issues: This is an environmental review category B project; principal issues involve liquid and solid waste disposal, storage and handling of hazardous chemicals, hazardous waste disposal, hygiene and housekeeping, employee exposure to toxic or radioactive materials, workers safety and training, and fire prevention and emergency preparedness. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements: The sponsor will treat the waste by autoclaving, discharging it to a sewage treatment plant, and the treated waste (liquid and solid) will be collected by a waste disposal company. The sponsor also plans to use a small incinerator to burn most of its solid waste products. Radmed will not store hazardous chemicals on site. The facility will have smoke detectors and sprinkler system in every room. Fire extinguishers will be placed throughout the facility according to the Fire department recommendations. IFC will monitor ongoing compliance with World Bank environmental, health and safety policies and guidelines during the lifetime of the project by evaluating reports submitted annually to IFC by Radmed and by conducting periodic supervision. The Environmental Review Summary is expected to be available at the Public Information Center on or about May 23, 1997. Date SPI sent to PIC: May 14, 1997 For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-3397; facsimile: (202) 473-4348 L:\CAF\AEF\NIR\RADMSPI.DOC Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Radmed Diagnostic Center Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Medical Laboratories
Total: $0.29 million
290000.00
290000.00
Radmed Diagnostic Center Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8320/aef-radmed-diagnostic-center-limited
XM-DAC-903-SPI-8821
International Finance Corporation
AEF Ansbby Nigeria Limited
SUMMARY OF PROJECT INFORMATION (SPI) Project Name NIGERIA Ansbby Nigeria Limited Region Sub-Saharan Africa Sector Oil Refining Project No. 008821 Projected Board Date June 21, 1998 Company Name Ansbby Nigeria Limited Technical Partner and/or Major Shareholders: Ansbby Nigeria Limited, a wholly owned subsidiary of Ansbby Group, was incorporated in 1987. The Ansbby Group is involved in diverse business activities that include mechanical engineering, civil engineering, transportation and trading. Its principal line of business is procurement, supply and installation of (1) telecommunication and electrical instruments and accessories; (2) mechanical equipment and fittings; and (3) general contracting. In the last nine years, Ansbby has rendered services to the oil industry especially in the areas of swamp operations and telecommunications. Ansbby is owned by Mr. Uwakwe, an engineer by training. He owns and managers several businesses under the Ansbby Group. Project Cost including proposed IFC Investment: N 22 million (US$250,000 equivalent); IFC is requested to provide a loan of US$100,000 to part-finance the acquisition of equipment for the plant. Location of Project and Description of Site: The Company is located in Port-Harcourt, Rivers State. Description of Company and Purpose of Project: Ansbby Nigeria Limited (Ansbby, the company) proposes to set up a domestic gas (LPG) filling plant at Port Harcourt. The Nigerian Government is encouraging the use of gas for domestic uses and industrial uses as an alternative to avoid cutting down of trees and degradation of the environment. The Government is encouraging private sector to play a role. With the proposed plant, Ansbby will further diversify into manufacturing and expand its income base. Proposed installed capacity is 175,000 liters. The bottling process is simple; it involves filling repressurized gas into high-pressure domestic gas bottles through filling nozzles. The Nigerian Petroleum Development Company (NNPC) is currently the sole producer of LPG. IFC will help further develop a small indigenous entrepreneur in a sector dominated by large multinationals and vital to the economy. Environmental Category and Issues: This is an environmental review category B project; principal issues involve site location, air emissions, liquid effluents, hazardous material risk assessment, solid and hazardous waste disposal, employee training and fire protection. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements: The plant will be located in an industrial area. The surrounding vegetation is composed of shrubs, and some scattered palm trees. Ansbby will ensure that the air emissions generated will be appropriately controlled to comply with World Bank guidelines. All industrial waters generated will be reused thus, there will not be release of industrial effluents to the environment. Sanitary sewage will be collected in septic tanks. Industrial solid waste will be treated to comply with World Bank guidelines. Domestic solid waste will be properly disposed of according to local regulations. The sponsor will conduct hazard and risk assessments to identify, characterize and safely manage any present or future potential environmental hazard of Ansbby products and operations. The sponsor will also prepare a comprehensive gas leak/spills prevention and contingency plans. The company will install gas leak detectors, alarm systems, and fire prevention equipment including fire hydrants, stand pipe and bar, water hoses, water spray projector systems and gas/CO2 detectors. The sponsor jointly with the State Fire Service Board will provide comprehensive fire prevention and fire safety training to the employees and will have periodic fire drills. The Environmental Review Summary is available from the Infoshop. Date SPI sent to PIC: May 21, 1998 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For additional information contact: Corporate Relations Unit Telephone: (202) 473-7711 Facsimile: (202) 676-0365 L:\CAF\AEF\NIR\ansbspi.doc May 18, 1998 11:26 AM Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Ansbby Nigeria Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BB - Industrial Gases
Total: $0.10 million
100000.00
100000.00
Ansbby Nigeria Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/8821/aef-ansbby-nigeria-limited
XM-DAC-903-SPI-9202
International Finance Corporation
AEF Global Fabrics Manufacturers Limited
SUMMARY OF PROJECT INFORMATION (SPI) Project Name NIGERIA: Global Fabrics Manufacturers Limited Region Sub-Saharan Africa Sector Manufacturing Project No 009202 Projected Board Date February 7, 1999 Company Name Global Fabrics Manufacturers Limited Technical Partner and/or Major Shareholders There is no technical partner. The project is sponsored by Messrs. M.C. Nwoba, F. Amobi and M.A. Afunugo. Mr. M.C. Nwoba is the Chairman of the Company. Equity is held equally (33.33% each) among the three Directors. Global is affiliated to MAFFACO Group (West Africa) Limited. The Group comprises six companies involved in engineering and agro-business including production and export of rubber. Project Cost including Proposed IFC Investment Project cost including proposed IFC investment: US$1,083,000 equivalent of which IFC has been requested to provide a loan of US$320,000. Location of Project and Description of Site The factory is presently located at No. 1 Uba Street, Nkpor, Idemili North L.G.A of Anambra State. The project is to relocate the existing factory to a new, previously undeveloped, 3-hectare site in the industrial estate of Azu Village, Ogbunike Industrial layout along Enugu/Onitsha expressway. The new buildings will comprise the administrative block and staff quarters. Description of Company and Purpose of Project The Company will acquire additional machines and equipment from Taiwan in order to expand its production of narrow fabrics and wicks. The narrow fabrics are used for making mattress tapes, ribbon tapes, waist bands, elastic tapes, bag tapes and winding tapes. Upon project completion, the Company will be one of the largest domestic manufacturers of these products in Nigeria. The Company employs 30 regular workers of and some temporary workers. The project will employ an additional 53 regular workers. This import substitution project will help in the industrialization of the area. IFC will provide a loan a long-term loan, which is currently unavailable in Nigeria. It will also help three dynamic entrepreneurs to further develop their business activities. Environmental Category and Issues This is a category B project according to IFCs environmental and social review procedure. The key environmental and health and safety issues include: sewage and solid waste management; fire prevention and emergency response; and employee health and safety, including training. Employee sanitary sewage will be separately discharged to the local sewerage network. Solid waste will be collected periodically by the municipality and disposed of in the local dump. Adequate fire prevention systems have been incorporated into building design and operation. All employees will be trained in fire prevention and response. The facility is appropriately registered with the local fire department for provision of emergency services in case of a fire. Global will address all aspects of employee health and safety including workplace noise, and general health and safety and training. IFC will monitor the sponsors ongoing compliance with World Bank policies, and environmental, health and safety guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC. The Environmental Review Summary is available from the Public Information Center. Host country location of Federal Environmental Protection Agency Environmental documents (FEPA) Date SPI sent to InfoShop January 8, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose to enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit Telephone: (202) 473-7711 Facsimile: (202) 971-4384 \\StreetTalk\Shared Data@CAFNET@IFC\CAF\AEF\NIR\Globalspi.doc December 17, 1998 5:05 PM Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
GLOBAL FABRICS MANUFACTURERS LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BA - Household Textile Products (Including Drapes, Mattress Covers, Carpets, Towels, etc.)
Total: $0.32 million
320000.00
320000.00
GLOBAL FABRICS MANUFACTURERS LIMITED
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9202/aef-global-fabrics-manufacturers-limited
XM-DAC-903-SPI-9281
International Finance Corporation
Capital Alliance Private Equity Fund
Summary Of Project Information (SPI) Project Name Nigeria - CapeFund RegionSub-Saharan Africa Sector Project No009281 Projected Board DateSeptember 24, 1999 Company NameCapital Alliance Private Equity Fund Technical Partner and/or Major Shareholders The Capital Alliance Private Equity Fund is sponsored by Africa Capital Alliance (ACA) which is also the sponsor of South Africa Capital Growth Fund (SACGF) in which IFC has invested. The fund is expected to have both local and international investors. Project Cost Including proposed IFC investment Total project cost is estimated at US$30 to US$40 million. The IFC component is US$7.5 million. Location of project and Description of site Nigeria and West Africa. Description of Company and Purpose of Project The project is a new private equity fund, focussed on Nigeria and intended to invest in expansion/replacement capital for companies with significant growth prospects; joint venture investments with foreign companies seeking to establish or re-establish operations in Nigeria; and management buyouts and buyins. The fund will have a two-tier structure consisting of the fund, which will be a 10-year life company, and a separate management company. Environmental Category and Issues This is a Category FI Type 2 project according to IFCs environmental and social review procedure.The Fund Manager has agreed to undertake an environmental review of each subproject. The Fund Manager has also agreed to participate in environmental training as required by IFC, develop an environmental management system, and provide an annual environmental performance report to IFC. Date SPI sent to InfoShop August 25, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit - telephone: (202) 473-7711 facsimile: (202) 974-4384
Capital Alliance Private Equity (Mauritius), Ltd.
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BA - Private Equity/Venture Cap Fund - Country
Total: $7.50 million
7500000.00
7500000.00
Capital Alliance Private Equity (Mauritius), Ltd.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9281/capital-alliance-private-equity-fund
XM-DAC-903-SPI-9479
International Finance Corporation
AEF Hercules Tyres Limited
SUMMARY OF PROJECT INFORMATION (SPI) Project Name NIGERIA: AEF-Hercules Tyres Limited Region Sub-Saharan Africa Project No 009479 Project Board Date June 24, 1999 Company Name Hercules Tyres Limited Technical Partner and/or Major Shareholders There is no technical partner. Initial technical supervision and training will be provided by the machinery suppliers. The technical expertise and general labor requirements for production will be recruited locally. The project is sponsored by Mr. Ashok Kumar, an Indian national with extensive experience in tyre importation and sales, commodity trading and textiles. Mr. Kumar is the Managing Director of Hercules Tyres Limited and holds 55% of the outstanding shares. Other shareholders are Mr. Rohit Nandal, an Indian and Mr. Gbadebo Ayanwuyi, a Nigerian. Project Cost Including Proposed IFC Investment US$3,222,000 equivalent including a proposed IFC A loan of US$1,300,000. Location of Project and Description of Site Project Location: The project will located at Plot c-3, Amuwo Odofin Commercial Scheme in Lagos State, Nigeria. Description of Company and Purpose of Project (including IFCs Role and Development Impact) The project is a diversification effort by the promoters of Hercules Tyres Limited who have been engaged in tire importation and sales since 1992. The proposed factory is for the retreading of used vehicle tyres. The factory will manufacture tyre treads and fit these treads to used commercial vehicle tyres. The factory will produce four tire sizes for lorries, trailers, tankers and heavy trucks. The installed annual capacity operating on two 8-hour shifts will be 50,000 truck tyres per annum. The main focus of the project is the retreading of trailer and truck tyres for fleet owners. The project is based on the cold process of retreading which produces very high quality tyres of comparable safety standards to new tyres. IFC will be providing a loan with longer maturities than presently available in Nigeria. The project will help to reduce transportation costs in Nigeria by producing safe and cheap tyres for road haulage transportation. Environmental Category and Issues This is a category B project according to IFC''s environmental and social review procedure. Key environmental, social, health and safety issues associated with this project include: site history and potential for contamination, air emissions; effluent treatment and discharge; solid and hazardous waste management; hazardous materials handling and storage; fire prevention and emergency response and workplace health and safety. The site for this project is located in an industrial area which has yet to be fully developed and has never been in productive use. The tyre retreading process uses only small quantities of water to be supplied by borehole sources. Small quantities required for the cooling lines will be recycled. No liquid effluents are generated. However, small quantities of dirty water will be discharged to the municipal sewer in accordance with IFCs effluent discharge guidelines, and those of the Waste Management Authority. Necessary approvals for discharges will be obtained, and routine monitoring undertaken. No significant air emissions are produced except for dust generated in the buffing of old tyres and through the use of raw materials. This is not hazardous and will be recycled in the process. A dust collection system will also be installed. A small oil fired boiler needs to be constructed within a secure structure to achieve containment in the event of a spill or breach. Raw materials will be stored in a separate building and only small amounts kept on the factory floor. A regular training program will be implemented for staff with respect to health and safety including the proper handling of hazardous materials, and in particular, chemical solvents and adhesives. Plant and equipment have safety features already included in their design. No abnormal noise emissions are expected to be produced. The plant incorporates sprinkler system and chemical fire extinguishers. Regular fire drills will be carried out; the Local Fire Department will carry out an annual survey and issue a compliance certificate. The sponsor will ensure an emergency plan is prepared in liaison with local fire authorities and or services. The Environmental Review Summary is available from the Public Information Center. Host country location of Federal Environmental Protection Agency Environmental documents (FEPA) Date SPI sent to InfoShop May 24, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purposed of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit telephone: (202) 473-7711 Facsimile: (202) 974-4348 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Hercules Tyres Manufacturing Nigeria Limited
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Automotive Tires
Total: $1.30 million
1300000.00
1300000.00
Hercules Tyres Manufacturing Nigeria Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9479/aef-hercules-tyres-limited
XM-DAC-903-SPI-9628
International Finance Corporation
AEF Hygeia Nigeria Limited
Summary of Project Information (SPI) Project Name NIGERIA: Hygeia Nigeria Limited Region Sub-Saharan Africa Sector Social Services (Health Care, Education) Project No. 009628 Projected Board June 25, 1999 Date Company Name Hygeia Nigeria Limited Technical Partner and/or Major Shareholders There is no technical partner. The company has a technical agreement with Health Partners, a health management organization based in Minneapolis, USA to provide training and advice. The principal sponsors of the project are Professor E.A. Elebute and his wife Professor O.W. Elebute, a husband and wife team who were founding members of the leading University Teaching Hospital in Lagos in the early 1960s. The two principal promoters own 55% of the shares. Other major shareholders are three leading insurance companies, UNIC Insurance Plc (12%), African Alliance Insurance Company (8.3%) and Lion of Africa Insurance Plc (8.3%). Project Cost Including Proposed IFC Investment Project cost including proposed IFC investment: US$2,186,000 equivalent including a proposed IFC investment of US$581,000. Location of Project and Description of Site Project Location: The project will be located in Lagos, Nigeria. Lagoon Hospital is located Apapa, Lagos and proposed model clinics will all be located in Lagos. Description of Company and Purpose of Project (include IFCs Role and Development Impact) Hygeia Nigeria Limited was established in 1984. It owns and operates Lagoon hospital, a 40 bed hospital in Apapa, Lagos which opened in 1986. The hospital provides tertiary health care services and preventive health screening facilities to a high end niche and care in various medical specializations. It also operates satellite clinics for its corporate clients within the clients premises. The company offers a managed care scheme which provides primary and secondary level health care services to large corporate clients in the Lagos metropolis at a fixed cost. The project is intended to upgrade existing tertiary health care services at Lagoon Hospital and expand the companys managed care business. The managed care product satisfies customers current buying criteria of low cost and quality service while eliminating the problem of fraud and abuse. IFC will be providing a loan with longer maturities than presently available in Nigeria. The managed care scheme will ensure the maintenance of quality while reducing the cost of healthcare delivery. Environmental Category and Issues This is a category B project according to IFC''s environmental and social review procedure. Environmental issues associated with this project include: Site location, prior use and land acquisition process; handling and storage of medical material; storage, handling and final disposal of chemicals; source of water and power supply; hygiene and implementation of good medical management practices; waste management; CFC free air conditioning and cold storage equipment; provision of employee protective clothing and equipment; exposure of employees to radioactive material; employees health and safety training; and fire prevention. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements. In particular, the fuel storage area is to be protected by retention bunds; medical supplies and chemicals will be locked in the Pharmacy Store and handled by regularly trained staff. At IFCs request, the sponsor has commissioned a consultant to undertake the development and implementation of a comprehensive waste management plan. Hazardous and biomedical wastes are collected separately and will be incinerated in situ in a specifically built incinerator that the sponsor has undertaken to install. The Lagos Municipal Incinerator represents another facility, which could be used if it is adequately licensed to accept these types of waste and deemed adequate after a site visit by the IFC environment department. Sharp objects such as needles and blades are currently being secured in refuse cans before being disposed, together with other hazardous and bio-medical waste by the Waste Disposal Authority, to an authorized landfill together with other solid waste. Sanitary waste is disposed of in septic tanks incorporating filter soakaway and are regularly emptied. The sludges are discharged to an authorized landfill. Other wastewater, essentially kitchen wastewater and laundry waste water, is treated in separate soakaway pits. All treated effluents from the septic tanks and soakaway pits percolate into the ground. The sponsor has developed an adequate health and safety plan including an emergency response and evacuation plan and fire safety is ensured by an alarm, fire extinguishers and reels of hoses on each floor. Plans have been made to install smoke detectors and automatic water sprinklers The Environmental Review Summary is available from the Public Information Center Host country location of Federal Environmental Protection Agency (FEPA) environmental documents Apapa local government Headquarters Date SPI sent to InfoShop May 25, 1999 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit telephone: (202) 473-7711 facsimile: (202) 974-4384 Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
HYGEIA NIGERIA LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Hospitals and Clinics
Total: $0.58 million
380000.00
200000.00
380000.00
HYGEIA NIGERIA LIMITED
200000.00
HYGEIA NIGERIA LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9628/aef-hygeia-nigeria-limited
XM-DAC-903-SPI-9919
International Finance Corporation
Citibank Nigeria
Citibank Nigeria is sponsored by Citibank N.A. - Project Cost Including proposed IFC investment Total project cost is estimated at $40 million. -Location of project and Description of site: Nigeria -Description of Company and Purpose of Project The project involves an IFC loan of up to US$40.0 million to Citibank Nigeria (the Bank) to be on-lent to private Nigerian enterprises for rehabilitation, trade finance, working capital and new investment projects. The project constitutes IFCs first term finance facility in Nigeria in almost 10 years. Citibank Nigeria was incorporated in 1984 as a joint venture between Citibank N.A. (40%) and private Nigerian investors (60%) under the name Nigeria International Bank Ltd (NIB). However, following 12 years of successful operations and strong profitability, Citibank N.A. in 1996 increased its stake to 75% thereby assuming majority ownership of the Bank and changing its name from NIB to Citibank Nigeria. Citibank is considered as one of the most innovative banks in Nigeria providing diversified products to its customers including the provision of short and medium term foreign currency loans. The Bank''s reputation has been built on its strong credit risk management, good loan quality, strong profitability, internal controls and good service quality. As at the end of 1998, the Bank had ten branches throughout Nigeria. - Environmental Category and Issues This is a Financial Intermediary (FI) Type 2 project according to IFC''s environmental review procedure. Citibank Nigeria will be required to undertake an environmental review of each sub-project to ensure compliance with host country requirements, IFC environmental and social safeguard policies, and, if applicable, World Bank Group environmental, health and safety guidelines. IFC will assess the Bank''s capability to carry out environmental reviews. Diamond Bank Nigeria must obtain IFC clearance prior to making any investment with IFC funds in any Category A project. The is from the InfoShop. Host country location of environmental documents Nigeria Date SPI sent to InfoShop February 1, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit Telephone:(202) 473-7711 Fax:(202) 974-4384
CITIBANK NIGERIA LIMITED
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $40.00 million
40000000.00
40000000.00
CITIBANK NIGERIA LIMITED
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9919/citibank-nigeria
XM-DAC-903-SPI-9923
International Finance Corporation
Diamond Bank
Diamond Bank is sponsored by diamond bank Ltd. - Project Cost Including proposed IFC investment Total project cost is estimated at $20 million. - Location of project and Description of site: Nigeria - Description of Company and Purpose of Project The project involves an IFC loan of up to $20.0 million to Diamond Bank Nigeria (the Bank) to be on-lent to private Nigerian enterprises for rehabilitation, trade finance, working capital and new investment projects. The project constitutes one of IFCs first term finance facility in Nigeria in almost 10 years. Diamond Bank was established in 1991 as a commercial bank with a capital base of about N50 million ($500,000 equivalent). Today, the Bank''s equity and asset base is about N2.9 billion ($30 million equivalent) and N23 billion ($242 million equivalent), respectively making it one of the largest banks in Nigeria. Diamond Bank is primarily a commercial bank with a leading position in the middle market with strong focus and presence in the biggest and busiest commercial and industrial cities where businesses such as manufacturing, oil and gas, transportation and general commerce thrives. Diamond Bank operates throughout Nigeria with about 24 branches and has state of the art banking technology. - Environmental Category and Issues This is a Financial Intermediary (FI) Type 2 project according to IFC''s environmental review procedure. Diamond Bank Nigeria will be required to undertake an environmental review of each sub-project to ensure compliance with host country requirements, IFC environmental and social safeguard policies, and, if applicable, World Bank Group environmental, health and safety guidelines. IFC will assess the Bank''s capability to carry out environmental reviews. Diamond Bank Nigeria must obtain IFC clearance prior to making any investment with IFC funds in any Category A project. The is from the InfoShop. Host country location of environmental documents Nigeria Date SPI sent to InfoShop: February 1, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit Telephone: (202) 473-7711 Fax: (202) 974-4384
DIAMOND BANK PLC
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
DIAMOND BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9923/diamond-bank
XM-DAC-903-SPI-9994
International Finance Corporation
GUARANTY TRUST BANK PLC
Guaranty Trust Bank Plc. is a full service commercial bank quoted on the Nigerian Stock Exchange. Project Cost Including proposed IFC investment Total project cost is estimated at $20 million. Location of project and Description of site - Nigeria Description of Company and Purpose of Project The project involves an IFC term loan of up to $20.0 million to Guaranty Trust Bank Nigeria (GTB or the Bank) to be on-lent to private Nigerian enterprises for rehabilitation, trade finance, working capital and new investment projects. The sponsor of the project is Guaranty Trust Bank Plc. a public limited company quoted on the Nigerian Stock Exchange. Although the Bank has over 4,000 shareholders, it remains closely held by its management, staff and a small number of its founding shareholders who together own a significant part (around 85%) of the Bank''s shares. Despite the difficult economic condition and political situation prevailing in the country as well as increasing competition, the Bank has over the years shown strong underlying earnings growth and profitability. This performance is also reflected in the significant growth of the Bank''s equity since establishment from Naira 25.0 million in 1991 to N2.8 billion as at end of August 1999. GTB is a full service bank with a target market of middle and top tier corporate clients. The Bank is well established in these markets and has a particularly strong presence in the manufacturing industries as well as the petroleum and petroleum related sectors of the economy. The Bank services its clients through a branch network of 12 offices located in the major commercial /industrial centers in Nigeria. The network is supported by a strong technology platform linked via a wide area network with real time capabilities. - Environmental Category and Issues This is a category FI Type 2 project according to IFCs environmental review procedure. GTB has committed to establishing an environmental management system that will ensure that investments are consistent with applicable host country environmental laws and regulations as well as applicable World Bank Group environmental, health and safety guidelines and policies; designating appropriate individuals who will have responsibility for environment; attending IFCs environmental management workshops; submitting an environmental management plan; ensuring that category A projects are cleared by IFCs Environment Division; and submitting an annual environmental performance report. The is from the InfoShop. Host country location of environmental documents Nigeria Date SPI sent to InfoShop February 3, 2000 This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors. It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration. For Additional Information contact: Corporate Relations Unit Telephone: (202) 473-7711 Fax: (202) 974-4384
GUARANTY TRUST BANK PLC
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
GUARANTY TRUST BANK PLC
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/9994/guaranty-trust-bank-plc
XM-DAC-903-SPI-10683
International Finance Corporation
Niger Delta Contractor Revolving Credit Facility
This project involves the establishment of a US$30 million revolving credit facility by IFC, Shell and a local bank. The facility, details of which are still under discussion, would focus on the oil services sector in Nigeria and would provide competitively priced term funding to small and medium-sized local contractors delivering services to the Shell Petroleum Development Company Joint Venture of Nigeria Limited (SPDC JV), primarily in the Niger Delta. Currently, access to term funding is essentially nonexistent for these contractors. Available credit to these companies is only short-term and very expensive. Local banks lack adequate term finance resources in both Naira and US dollars, and tend to limit their exposure to Niger Delta contractors, because they portray high risks. In addition, interest rates charged to these contractors are usually indexed to the Nigerian Inter-Bank Offered Rate (NIBOR), which is highly volatile. Under these conditions, it is difficult for them to acquire and finance equipment, which in turn prohibits them from competing for larger, higher value-added contracts. One of the major developmental benefits of the project would be its positive effect on the Niger Delta. The facility would help support the growth of targeted local contractors, and, as a result, make a contribution to relieve unemployment and poverty. Funding under the facility would also lead to technology transfer and more skilled training, which would provide longer term development gains and movement up the value chain. This would also enable local contractors to compete more effectively with foreign companies on certain contracts, which are not currently accessible to them. Ultimately the project would establish a strong base of local service companies, which would produce all around benefits, such as lowering the country''s production costs and increasing the benefits of oil production to the economy in general. The proposed facility would be the first of its kind for IFC. IFC is actively involved with Shell in working out the structuring and funding arrangements. The facility will also involve a local bank, which is yet to be identified. By financing one third of the required funding for the facility, IFC will play a catalytic role in mobilizing additional term funding, which is not readily available to small oil services contractors operating in the Niger Delta. The facility would also enable targeted contractors to access less expensive US dollar financing and strengthen their financial condition by reducing their borrowing costs. In parallel, IFC''s SME department and APDF are actively working with SPDC JV to put together an estimated US$210,000 capacity building program to support contractors in developing their business.
Niger Delta Contractor Revolving Credit Facility
International Finance Corporation Oil, Gas and Chemicals Department Room F8P-202 2121 Pennsylvania Avenue, NW Washington, D.C. 20433
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The target transactions would be in Nigeria. The facility would offer financing to local contractors providing services primarily in the Niger Delta.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
CA - Finance Companies
Total: $15.00 million
15000000.00
15000000.00
Niger Delta Contractor Revolving Credit Facility
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/10683/niger-delta-contractor-revolving-credit-facility
XM-DAC-903-SPI-11206
International Finance Corporation
MTN Nigeria
MTN Nigeria is a relatively new company, created for the purpose of constructing, owning, maintaining and operating a GSM cellular telecommunications network in Nigeria. In January/February 2001, MTN Nigeria won 1 of 3 new 15-year licenses awarded through an open auction process as part of an ongoing liberalization of the telecommunications sector assisted by the World Bank. MTN Nigeria began operations in August 2001. As of February 28, 2002, the company had approximately 250,000 subscribers, and is currently adding on average about 2,000 subscribers per day. The project will expand the coverage and capacity of MTN Nigeria''s network, and by February 2006, the company expects to have over 1,500,000 subscribers in accordance with its license requirements. As is the case in many other emerging markets, cellular telecommunications in Nigeria is quickly becoming the primary means of communications in the country. While there are only approximately 400,000 wireline telephones in service in a country of over 125 million people, in just over 6 months of operations, the cellular operators have built a total base of over 500,000 subscribers. This trend is expected to continue, and as cellular services expand nation-wide, the improved telecommunications infrastructure is expected to benefit all segments of Nigeria''s economy, as businesses become more efficient and productive simply because they can communicate and conduct basic business transactions more easily. IFC''s role in this project is two-fold: (i) to foster competition in the Nigerian telecommunications market in general, and the cellular market in particular, which is expected to lower tariffs and make cellular telecommunications services more affordable to a larger segment of the Nigerian population, and improve the quality of telecommunications services and customer responsiveness; and (ii) to support the liberalization and private sector development of the telecommunications market in Nigeria, started with the World Bank''s assistance of the government in this area, and continued by MIGA''s recent guarantee facility to Econet Nigeria, MTN Nigeria''s primary competitor.
MTN NIGERIA COMMUNICATIONS PLC
Randall Riopelle, Investment Officer Email: rriopelle@ifc.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project consists of the construction of a nation-wide GSM cellular telecommunications network in Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Mobile Telephony
Total: $100.00 million
75000000.00
25000000.00
75000000.00
MTN NIGERIA COMMUNICATIONS PLC
25000000.00
MTN NIGERIA COMMUNICATIONS PLC
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11206/mtn-nigeria
XM-DAC-903-SPI-11460
International Finance Corporation
Adamac Revolving Credit Facility
The credit facility is for the benefit of DSNL Offshore Limited, a wholly owned Adamac subsidiary focusing on engineering, design, construction and installation of offshore facilities. The facility would be used to refinance a working capital loan and for financing working capital requirements for new contracts. The existing working capital loan was undertaken for the company''s participation in the Offshore Gas Gathering System - OGGS contract. This contract involves the development of an offshore and onshore network of pipelines consisting of over 360 KM of 32'''', 24'''' and 16'''' pipes to collect associated and non-associated gas for delivery to a local LNG (Liquefied Natural Gas) facility. Adamac''s scope of work in the execution of the OGGS project among others includes the following: - Provision of integrated FBE (Fusion Bonded Epoxy) and concrete weight pipe coating plant to be located at the Onne Oil and Gas Free Zone in Onne Town, Rivers State, Nigeria, and all associated pipe coating logistics and services for the entire OGGS pipeline network - Provision of over 173,000 square meters of land for pipe storage and load out services to Offshore Cargo Barges at the Adamac yard in Onne Oil and Gas Free Zone - Provision of project management services - Fabrication and construction of offshore section of OGGS pipeline including landfall/shore approach - Fabrication and construction of onshore section of OGGS pipeline - Engineering, fabrication and construction of onshore receiving facilities and tie in with LNG Train 3 Plant. IFC''s Role: The credit facility would provide Adamac access to longer term financing and thereby provide greater flexibility in developing and funding its investment program and contracting strategy. The facility would strengthen Adamacs financial situation by reducing its heavy borrowing costs (approximately 30%) and thereby increasing its competitiveness vis-à-vis foreign contractors. IFC will also assist Adamac in the preparation of a corporate level Environmental Management System (EMS) to govern the activities of all of the relevant operating subsidiaries. An EMS will enable Adamac to better screen and select potential projects based on the expected environmental impact. IFC financing will be Adamacs first introduction to the international financial markets. Given the company''s expansion plans, continued access to international capital is necessary to ensure its growth potential. Developmental Role: - Enable Adamac, a major employer of Niger Delta indigenes, to compete more effectively with foreign companies on certain contracts and thereby increase local participation in the Nigerian oil and gas sector. - Through Adamac''s partnership with strong technical foreign partners on bigger contracts, allow for technology transfer and skills upgrade for Adamac''s eventual expansion into international markets. - Provide contract financing for a project designed to support the governments gas flaring reduction initiative. Adamac employs over 4500 full staff native to the Niger Delta area. Under each new contract, Adamac could employ up to 1000 additional contract laborers primarily from the Niger Delta.
ADAMAC INDUSTRIES LTD
Mr. Henry MacPepple, Chairman/CEO Adamac Industries Limited Adamac House Plot 20 East-West Road Rumuodara Port Harcourt Rivers State, Nigeria Telephone: 234-84-610456, 234-84-610457 Fax: 234-84-610458, 234-84-610652
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Adamac is headquartered in Port Harcourt, Rivers State, Nigeria. The company also retains an oilfield facility in Warri, Delta State, an offshore heavy construction facility at the Onne Port Complex in Onne Town, Rivers State, and a marine base facility on the Bonny River at Rumuolumeni in Port Harcourt, Rivers State.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
EA - Oilfield Services
Total: $25.00 million
25000000.00
25000000.00
ADAMAC INDUSTRIES LTD
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/11460/adamac-revolving-credit-facility
XM-DAC-903-SPI-20726
International Finance Corporation
UPDC Hotels Limited
The project involves the redevelopment by UACN Property Development Company PLC (UPDC) of a recently privatized hotel complex in Lagos, Nigeria, into:
- a 432-room, three-star hotel, targeting the mid-market;
- conference facilities;
- a business center and health club; and
- retail and commercial office space.
The project is aimed at the large mid-market in Nigeria that would prefer not to stay in the four/five star accommodations available in Lagos and is underserved by hotels specifically targeted at that sector.
UPDC Hotels Ltd
Attention: Mr. Stephen Mayaki, Managing Director
UPDC Hotels Limited
Niger House
1-5 Odunlami Street
Lagos, Nigeria
Phone: 234-1-2660889
Fax: 234-1-2662681
E-mail: smayaki@uacnplc.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project is located at the current Festac 77 Hotel site, within Anuwo Odofin Housing Estate. The hotel is well situated in a busy mixed use (residential, commercial and light industrial) area of Lagos, close to the airport, the seaport, some major markets and the main road into Nigeria from the Republic of Benin.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - City and Business Hotel
Total: $11.00 million
11000000.00
11000000.00
UPDC Hotels Ltd
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/20726/updc-hotels-limited
XM-DAC-903-SPI-21855
International Finance Corporation
Accion Nigeria
The project, entails establishing a greenfield microfinance institution (MFI), Accion Nigeria, that will specialize in providing financial services to micro and small enterprises, and low-income individuals in Nigeria. In its business operations, Accion Nigeria or the company will focus on credit extension and provision of financial services to private micro and small enterprises, salaried workers, private individuals and the general public. The purpose of the project is to expand crucial financial services to a sector that rarely has access to services offered by formal financial institutions.
ACCION MICROFINANCE BANK LTD
Mr. Alfred Nicayenzi, Senior Director,
Accion International
733 15th Street NW, Suite 700
Washington DC 20005
Tel: 202-393-5113 ext. 124
Email: anicayenzi@accion.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project, a greenfield microfinance institution (MFI), will be located in Lagos, Nigeria. Over time, the MFI will open branches in other major urban centers in the South East and in the North and expand nationally as conditions permit.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Commercial Banking - Microfinance and Small Business
Total: $1.89 million
1890000.00
1890000.00
ACCION MICROFINANCE BANK LTD
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/21855/accion-nigeria
XM-DAC-903-SPI-22896
International Finance Corporation
GTB II Project
The project consists of a line of credit of up to $20 million to Guaranty Trust Bank, Plc (GTB or the bank), the fifth largest commercial bank in Nigeria in terms of total assets and one of the three AAA rated banks in the country. The project's main objective is to address the scarcity of term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The lack of term funding results in unsustainable levels of maturity mismatches in the banking system, lost opportunities for financial sector development and lower national economic growth. Despite a recent improvement in political stability and a commitment to market-oriented economic reform, Nigeria has yet to attract a level of foreign investment in line with the size of its economy. This is creating a critical constraint in the countrys development goals, particularly as significant investments are needed to upgrade private sector productive capacity and operations to sustainable levels, and finance the privatization of major industries which the government has planned. The proposed investment allows IFC to partially address these constraints by making available foreign exchange term resources through an efficient financial institution.
GUARANTY TRUST BANK PLC
Aliou Maiga / Ayaan Z. Adam, Investment Officers
E-mail address: amaiga1@ifc.org or aadam@ifc.org
Phone: 202 458 0910 / 202 473 6446
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The location of the project is Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
GUARANTY TRUST BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/22896/gtb-ii-project
XM-DAC-903-SPI-23237
International Finance Corporation
Obajana Project
The project involves the construction and operation of a greenfield cement plant with a capacity of 4.4 million tons per annum (p.a.) at Obajana, Kogi State, Nigeria. The project is located 220 km southwest of Abuja and consists of the following components: - a cement plant and limestone quarry - a 135 MW captive power plant, - a 90 km natural gas pipeline, - a 351 unit housing complex for staff, - an earth dam and water reservoir to meet the project''s water requirements, and 500 trucks for cement transportation. - The project company is Obajana Cement Company Plc (OCP or the company). The project will fill a supply gap in the Nigerian cement market, where over 75% of the annual consumption of 10.6 million tons is imported. It will use locally available limestone and natural gas to produce cement at a production cost that is expected to be below the current importation cost.
Obajana Cement PLC
Mr. Milton Wanyama Principal Investment Officer, International Finance Corporation, 2121 Pennsylvania Ave, Washington DC NW, 20433, USA Phone: +1 202 473 8838 Email: mwanyama@ifc.org Ms. Radhika Shrivastava Investment Officer, International Finance Corporation, 2121 Pennsylvania Ave, Washington DC NW, 20433, USA Phone: +1 202 458 7257 Email: rshrivastava@ifc.org
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project is located in Obajana, Kogi State, 220 km southwest of Abuja, the Nigerian capital. The central site (cement and power plant) is located 25 Km from the Kabba road junction which will provide access to the roadway leading to Lokoja (the capital of Kogi State) and beyond. The quarry is in Oyo Village and is connected by a 7.5 km conveyor to the cement plant. The gas pipeline will run from the gas manifold at Ajaokuta Steel Complex and will include sections along the Ajaokuta-Okene road and Oben-Kaduna NNPC pipeline route with the last section running from Lokoja-Kabba junction to Obajana.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Gas - Thermal Power Generation
Total: $75.00 million
75000000.00
75000000.00
Obajana Cement PLC
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/23237/obajana-project
XM-DAC-903-SPI-24149
International Finance Corporation
GTB III Project
The project consists of a line of credit of up to $20 million to Guaranty Trust Bank, Plc (GTB or the bank), the fifth largest commercial bank in Nigeria in terms of total assets and one of the three AAA rated banks in the country. The project's main objective is to address the scarcity of term finance in Nigeria. Despite a recent improvement in political stability and a commitment to market-oriented economic reform, Nigeria has yet to attract a level of foreign investment in line with the size of its economy. This is creating a critical constraint in the countrys development goals, particularly as significant investments are needed to upgrade private sector productive capacity and operations to sustainable levels, and finance the privatization of major industries which the government has planned. The proposed investment allows IFC to partially address these constraints by making available foreign exchange term resources through an efficient financial institution.
GUARANTY TRUST BANK PLC
Aliou Maiga
E-mail address: amaiga1@ifc.org
Phone: 202 458 0910
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The location of the project is Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
GUARANTY TRUST BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24149/gtb-iii-project
XM-DAC-903-SPI-24342
International Finance Corporation
Investment Banking & Trust Company Plc
The project consists of a line of credit of up to $30 million to Investment Banking & Trust Company Plc (IBTC or the Bank), one of the largest new generation banks in Nigeria. The project''s main objective is to address the scarcity of term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.
STANBIC IBTC BANK PLC
Mohammed Gouled or George Manyere E-mails: mgouled@ifc.org , gmanyere@ifc.org Telephone: (1) 202 473 7008 or (27) 11 731 3016
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The location of the project is Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $30.00 million
30000000.00
0.00
30000000.00
STANBIC IBTC BANK PLC
0.00
STANBIC IBTC BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24342/investment-banking-trust-company-plc
XM-DAC-903-SPI-24343
International Finance Corporation
Diamond Bank II
The project consists of a line of credit of up to $30 million to Diamond Bank Limited (DBL or the Bank), one of the largest new generation banks in Nigeria. The project's main objective is to address the scarcity of term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.
DIAMOND BANK PLC
Aliou Maiga or George Manyere
E-mail address: amaiga1@ifc.org , gmanyere@ifc.org
Phone: (1) 202 458 0910 or (27) 11 731 3016
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The location of the project is Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $30.00 million
30000000.00
30000000.00
DIAMOND BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24343/diamond-bank-ii
XM-DAC-903-SPI-24536
International Finance Corporation
Socketworks
Socketworks Limited (Socketworks or the company) is a privately held Nigerian limited liability corporation. It was established in June 2002. It has been supported by the IFC since this time by way of capacity-building and advisory support services through the African Project Development Facility (APDF). Socketworks is a software and outsourcing company that aims to provide packaged ICT solutions to its clients. In the education market, it has developed software (trademarked CollegePortal) that has been endorsed by the Nigerian Universities Commission as the most suitable management software for Nigerias universities. Socketworks packaged solution for universities is helping universities automate their processes (eg: student admissions and registration, course selection, course management, exam management, facility management) that are currently done manually and is providing internet access that would not otherwise be available. These services are making an enormous difference to universities in Nigeria that otherwise have no ICT systems. Socketworks is currently focused on the Nigerian markets, but has ambitions to expand to other countries in Africa.
SocketWorks Nigeria Limited
Aloy Chife President/Chief Executive Officer Socketworks Limited #20 Admiralty Way Lekki Phase One Lagos Nigeria
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Universities to have IT installations by Socketworks as a part of this project include: Imo State University, Owerri; Abubakar Tafewa University, Bauchi; University of Ilorin; University of Abuja; Federal University of Technology, Yola; Ahmadu Bello University, Zaria; Ebonyi State University, Abakaliki; Rivers Redeemers University; and Yaba College of Technology. All of these universities are in Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Colleges, Universities, and Professional Schools
Total: $2.50 million
2500000.00
0.00
2500000.00
SocketWorks Nigeria Limited
0.00
SocketWorks Nigeria Limited
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24536/socketworks
XM-DAC-903-SPI-24574
International Finance Corporation
UBA/STB Project
The project consists of: - a partially convertible senior loan of up to $50 million to support the long-term lending activities of newly merged, United Bank of Africa (UBA), now the largest commercial bank in Nigeria in terms of total assets and; - an IFC partial guarantee (PCG) amounting to approximately $25 million to support a local currency denominated bond offering for UBA to support its residential mortgage lending program. The New UBA was formed as a result of an effective takeover of UBA by Standard Trust Bank (STB), the fifth largest bank in terms of assets in Nigeria. The merger which was announced in January, 2005 was approved by the regulators in July, 2005 .The merged entity now controls approximately $3 billion in assets (14% of the banking sector) and $360 million in shareholders equity. The bank also has over 400 branches spread through out Nigeria. UBA intends to use the proceeds from IFCs term loan to: - leverage its large equity base and - to provide scarce funding to its corporate and SME clients for their capital expenditures. The $25 million PCG is expected to support up to Naira (N) 13 billion (approximately $100 million equivalent) issuance with a maturity of up to 10 years. The Naira proceeds of the issue are expected to be used mainly for the provision of mortgage loans to be originated by UBA.
UNITED BANK FOR AFRICA PLC
Main Sponsor Contact Name:Bunmi Akinremi/ Francis Kalitsi Title Head, International Business/ Investment Officer Telephone Number (202) 473-1000 Fax Number (202) 477-6391 Address 2121 Pennsylvania Ave., NW, Washington, DC 20433
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $75.00 million
25000000.00
50000000.00
0.00
25000000.00
UNITED BANK FOR AFRICA PLC
50000000.00
UNITED BANK FOR AFRICA PLC
0.00
UNITED BANK FOR AFRICA PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24574/uba-stb-project
XM-DAC-903-SPI-24620
International Finance Corporation
Diamond Bank Plc
The project consists of a line of credit of up to $20 million to Diamond Bank Plc (Diamond Bank or the Bank), one of the largest new generation banks in Nigeria. The project's main objective is to address the scarcity of term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The credit line will also be used to support small to medium enterprises, a critical sector in the Nigerian economy. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.
DIAMOND BANK PLC
Mohammed Gouled or George Manyere
E-mail address: mgouled@ifc.org , gmanyere@ifc.org
Phone: (1) 202 473 7008 or (27) 11 731 3016
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The location of the project is Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
DIAMOND BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24620/diamond-bank-plc
XM-DAC-903-SPI-24562
International Finance Corporation
GTB Housing, Corporate&Medium Enterprises Line of Credit
The project consists of a line of credit of up to $30 million to Guaranty Trust Bank Plc (GTBank or the Bank), one of the largest banks in Nigeria. The projects main objective is to address the scarcity of housing, construction and residential construction and term finance in Nigeria, which has forced Nigerian commercial banks to rely on their capital, or to take maturity risk in order to finance longer term projects. The proposed investment allows IFC to address part of these constraints by making available long term foreign exchange resources through an efficient financial institution.
The project is expected to contribute to private sector development in Nigeria by providing the much needed long-term finance to supplement to the countrys low foreign direct investment. The project is expected to provide more affordable long term financing for construction, infrastructure and residential housing construction and support corporate and medium enterprises. The project is also expected to have a catalytic effect on the housing sector in Nigeria by helping to create the scale and size needed to stimulate the supply of quality construction of residential homes which qualify for mortgage financing. The development of this innovative housing finance product will help diversify the GTBs asset class.
GUARANTY TRUST BANK PLC
Mr. Segun Agbaje Deputy Managing Director Guaranty Trust Bank Plc Plural House, Plot 1669 Oyin Jolayemi Street, P.O. Box 75455 Victoria Island, Lagos, Nigeria (234) 1 262 2696 (234) 1 262 2693 www.gtbplc.com IFC Contacts Mohamed Gouled, George Manyere or Eze Enelamah E-mail address: mgouled@ifc.org , gmanyere@ifc.org or eenelamah@ifc.org Phone: (01) 202 473 7008, (27) 11 731 3016 or (27) 11 731 3157
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The location of the project is Lagos, Nigeria .
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Commercial Banking - Housing Finance
Total: $30.00 million
30000000.00
30000000.00
GUARANTY TRUST BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24562/gtb-housing-corporate-medium-enterprises-line-of-credit
XM-DAC-903-SPI-24674
International Finance Corporation
Leadway Project
The proposed project intends to strengthen and expand the operational capacity of Leadway Assurance Company Limited (Leadway, or the company), one of the leading insurance companies in Nigeria. The investment proposal envisages an equity contribution of up to $14 million by IFC and an institutional building program for the company at a key stage in its strategic development. Leadway was founded in 1970 by the late Sir Hassan O. Odukale and commenced operations in 1971. The company provides a full range of both life and non-life insurance products and allied financial services through a network of sixteen branches and key broker relationships spread across Nigeria. For the period ended 31st December 2005, the company generated gross premium income of N4.5 billion ($35.4 million), and had a balance sheet size of N10.3 billion ($80.4 million).
The potential developmental, institutional and capacity building impact of the project is high. The proposed IFC investment in Leadway will help support the development a leading local insurer, promote the overall market for private insurance in Nigeria, and will in turn help reduce the amount of capital leaving the country for the accounts of non-Nigerian insurers. Insurance companies have a disproportionately high impact on developing economies because they are necessarily large investors who directly affect the general economy through their operations. In order to settle claims that may arise, insurers invest excess premium income to build a portfolio of financial assets and income-producing real estate which can then be called upon to pay off any future claims that arise. A vibrant insurance industry can be a reliable source of long-term capital. The provision of quality insurance is therefore crucial for the development of a healthy and dynamic private sector and long-term capital markets in Nigeria.
Leadway Assurance company limited
Mr. Oye Hassan-Odukale, Managing Director, 121 /123 Western Avenue, Iponri, Lagos, Nigeria Telephone: +234 1 2700 700 Fax: +234 1 2700 800 Website: www.leadway.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Leadways registered company headquarters are in Kaduna, in north-central Nigeria. The companys principal operational and management offices are located in Lagos, Nigeria. The company has an active national distribution network of 16 branch and 10 agency offices.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
JC - Composite Insurance (Life and Non-life)
Total: $14.00 million
14000000.00
14000000.00
Leadway Assurance company limited
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24674/leadway-project
XM-DAC-903-SPI-24795
International Finance Corporation
Capital Alliance Property Investment Company
Capital Alliance Property Investment Company (CAPIC or the Fund) will invest in property developments including residential, commercial, retail, hospitality and mixed properties in West Africa, with a strong focus on Nigeria. The Fund is a closed-end regional real estate fund formed by Capital Alliance Real Estate Manager Ltd (CARE Manager or the Investment Advisor).
There is significant demand for residential, office, retail and hospitality real estate in the major commercial cities of Nigeria yet, at the same time, developers have been held back by an acute shortage of long-term capital. Cities like Lagos suffer from the lack of good urban infrastructure and planning.
The Fund can act as a catalyst by financing quality developments on time and on budget, and to the agreed specification. CAPIC will perform extensive due diligence on co-developers before partnering with them. It will require that proper attention will be given to design, engineering, contracting strategy, project management and financing during the pre-implementation phase
The Funds involvement in the sector will help to enhance the environment, social and governance standards of the developers with whom the Fund works.
CAPITAL ALLIANCE PROPERTY INVESTMENT COMPANY LP
Obi Nwogugu
Capital Alliance Property Investment Company
8th Floor, C&C Towers
1684 Sanusi Fafunwa Street
Victoria Island, Lagos
Phone: +234-1-270-4420
Fax: +234-1-270-6908
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project will focus on the development and financing of a balanced mix of residential, retail and commercial real estate projects located in West Africa, principally in Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BC - Private Equity/Venture Cap Fund - Sector
Total: $10.00 million
10000000.00
10000000.00
CAPITAL ALLIANCE PROPERTY INVESTMENT COMPANY LP
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24795/capital-alliance-property-investment-company
XM-DAC-903-SPI-24802
International Finance Corporation
Eleme Petrochemicals Company Limited
Eleme Petrochemicals Company Limited (Eleme or the company) was incorporated in 1988 as a 100% subsidiary of the Nigerian National Petroleum Corporation (NNPC) and started operations in 1995. Eleme is one of only two petrochemicals complexes in Nigeria (both of which are state owned). Due to operational problems (inadequate maintenance, lack of spare parts, equipment break-downs etc.) the plant has operated at a very low capacity utilization since its inception. The project is to assist Indorama International Finance Plc, UK (IIF or the Sponsor) in the privatization purchase of a 75% equity stake in Eleme and in implementing a turnaround capital investment program to return the company to profitability. The proposed transaction has two components: - Privatization Acquisition Finance (Acquisition): IIF would set up two special purpose vehicles (SPVs) to finance the purchase of its shares in Eleme. The first SPV (Offshore SPV) would be the main investment vehicle to own 50.3% of Elemes equity capital and the second SPV (Onshore SPV) would own the balance 24.7% of Elemes shares. The Onshore SPV would be owned by the Offshore SPV and would also have the Rivers State government as a minority shareholder. - Turn-around Capital Expenditure (Project): IIF estimates that Eleme will require a capital expenditure of $160 million towards repairs, refurbishment, modernization and working capital in order to restore the plant to full capacity utilization.
With a population of more than 130 million, Nigeria is Africas most populous country. The past few years have witnessed steady economic growth in the country, driven primarily by the governments aggressive social and economic reform agenda, as well as higher oil prices. The proposed project will play an important role in furthering this process. Through the transfer of existing state assets to the private sector and a capital expenditure program to help bring them back into productive use, the project is expected to: - add value to Nigerias natural resources; - support local upstream and downstream players; - provide momentum to the privatization agenda; - facilitate the development of the downstream sector; and - make available domestically produced polyethylene (PE) and polypropylene (PP) for which the historically strong local demand has been met largely through imports. Indicators that will be used to monitor the development impact of the project include: - purchases of Natural Gas Liquids (NGLs) as feedstock; - PE and PP sales to local companies; and - number of state-owned companies privatized.
INDORAMA ELEME PETROCHEMICALS LIMITED
Mr. P. K. Ekka Eleme Petrochemicals Complex, Eleme, Port Harcourt, Rivers State, Nigeria Email: pkekka@indorama.com Tel: 080 52224360 Environmental documents will be made available at the following location: Office of the Chairman, Eleme Local Government, Nchia, Eleme, Rivers State, Nigeria
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Elemes plant is located at Port Harcourt, which falls in the Rivers State region of Nigeria. The Eleme Local Government Area is composed of 10 villages with a total population of approximately 51,000 people in an area of 140 square kilometers. The total land area for Elemes facilities is about 900 hectares. Port Harcourt has an international port as well as an airport.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
BE - Petrochemical
Total: $75.00 million
75000000.00
75000000.00
INDORAMA ELEME PETROCHEMICALS LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24802/eleme-petrochemicals-company-limited
XM-DAC-903-SPI-24996
International Finance Corporation
Access GEM Project
The project consists of a line of credit of up to $15 million to Access Bank Plc (Access or the bank), one of the leading full-service commercial banks in Nigeria. The project''s main objective is to address the scarcity of term finance in general and to provide assistance to the undeserved sub-sector of women entrepreneurs in Nigeria specifically. The long term funding gap in Nigeria has historically forced Nigerian commercial banks to rely on their capital, or take the maturity risk in order to finance longer-term projects. The proposed investment allows IFC to address part of these constraints by making available foreign exchange term resources through an efficient financial institution.
This project is expected to contribute to private sector development by providing much needed foreign currency term finance to supplement the country''s low foreign direct investment. The lack of term lending in Nigeria has resulted in lost opportunities for financial sector development and hindered the growth of the economy. IFC''s loans to Access Bank (and other financial institutions) will significantly expand access to long term funding for private companies in Nigeria and act as a catalyst in increasing much needed flow of capital into the country. In addition, by focusing on lending to the manufacturing, private infrastructure, telecommunications, small to medium enterprises and energy industries, the project will help in the diversification of the country''s economy outside the natural resources sector.
ACCESS BANK PLC
Christopher Bajowa, Manager Access Bank Plc. Plot 1665 Oyin Jolayemi Street, Victoria Island, Lagos, Nigeria
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project sponsor, Access Bank Plc., operates through a network of over 80 branches and service outlets in all major commercial centers and cities across Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $30.00 million
30000000.00
0.00
30000000.00
ACCESS BANK PLC
0.00
ACCESS BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/24996/access-gem-project
XM-DAC-903-SPI-25125
International Finance Corporation
UBA Metropolitan Life Insurance Company
The proposed Project intends to strengthen and expand the operational capacity of UBA Metropolitan Life Insurance Limited (UBA-Metlife or the company), a new Bancassurance company specializing in life insurance in Nigeria. The company was established in January 2007 as a result of a joint venture between UBA Insurance, a wholly owned subsidiary of United Bank for Africa Plc (UBA) of Nigeria and Metropolitan Holdings Group (UK), a wholly owned subsidiary of Metropolitan Holdings Limited (MHL) of South Africa. The investment envisages an equity contribution of up to $3.0 million by IFC and corporate governance support for the company at a key stage in its development.
The potential developmental, institutional and capacity building impact of the project is high. The proposed IFC investment in UBA-Metlife will support the development of the insurance industry in Nigeria which is currently undergoing reforms. The Nigeria life insurance sector, in particular, is underdeveloped and the partnership between UBA, a strong local partner, with the world-class industry expertise of MHL, has the potential to transform an existing but dormant local insurer into a viable, world-class life insurer.
Insurance companies have a disproportionately high impact on economies because they are necessarily large investors who directly affect the general economy through their operations. In order to settle claims that may arise, insurers invest excess premium income to build a portfolio of financial assets and income-producing real estate which can then be called upon to pay off any future claims that arise. A vibrant insurance industry can be a reliable source of long-term capital, which is lacking in Nigeria and other African countries. The provision of quality insurance is therefore crucial for the development of a healthy and dynamic private sector and long-term capital markets.
UNITED BANK FOR AFRICA PLC
Mr. Arnoldus (AJ) Kruger, Managing Director
UBA Metropolitan Life Insurance Limited
Plot 1662, Oyin Jolayemi Street
Victoria Island, Lagos, Nigeria
Telephone: +234 1 462-0570
Fax: +234 1 462-0586
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
UBA Metropolitan Life Insurance Limited is incorporated in Nigeria with company number RC605083. The companys principal operational and management offices are located in Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
JA - Life Insurance
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25125/uba-metropolitan-life-insurance-company
XM-DAC-903-SPI-25324
International Finance Corporation
Hygeia Expansion
This proposed project involves an expansion of a number of operations of Hygeia Limited (the company). Hygeia is a private sector provider of hospital and health maintenance organization (HMO) services in Nigeria. The key elements of the proposed project include: - the upgrade, renovation and expansion of three Hygeia hospitals: Lagoon Apapa, Lagoon IV and Lagoon Ikeja. - the establishment of five regional offices and the expansion of information technology infrastructure in relation to its HMO business; - partial refinancing of an existing loan used to purchase MRI, CT Scan, and other critical care equipment in 2004/5; and - funding of working capital to facilitate the companys expansion program.
Supporting Hygeia for the expansion of its HMO and hospital business is expected to have significant development impact. First, it would raise the overall quality and accessibility of private medical services in Nigeria. Second, IFCs support, particularly of Hygeias HMO business, is likely to improve the perception of Nigerias nascent health insurance program boosting the credibility of this very important sector. Furthermore, this loan is expected to be IFCs first naira-denominated loan. IFCs involvement in the currency swap markets in Nigeria will assist in developing this aspect of the financial markets in that country. Finally, this investment in Hygeias expansion will bring additional employment and tax revenue to Nigeria.
HYGEIA NIGERIA LIMITED
Fola Layoe, Managing Director Hygeia HMO 11A, Idejo Street Victoria Island Lagos, Nigeria Website: www.hygeiahmo.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project has numerous locations, but the two key locations are Lagoon Hospital, 8 Marine Road, Apapa, Lagos, Nigeria; and Lagoon Hospital, 11A, Idejo Street, Victoria Island, Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Hospitals and Clinics
Total: $3.04 million
3040000.00
3040000.00
HYGEIA NIGERIA LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25324/hygeia-expansion
XM-DAC-903-SPI-25335
International Finance Corporation
Star Paper Project
Star Paper Mill Limited (Star Paper or the company) is in the final stages of completing a $28 million expansion of its existing paper manufacturing/conversion plant in Owerrinta, Abia State, Nigeria and is seeking IFCs assistance with refinancing short/medium term loans and funding additional capital expenditure. Star Paper began commercial production on the new 60-65 tonne/day tissue machine in May 2006 and has more than doubled its production capacity from 20,400 tons to 44,200 tons of jumbo reels per annum. This project is the first phase of a larger program aimed at increasing the total plant capacity to 73,200 tons per annum.
The project will benefit the country by transforming recycled paper into converted tissue paper and thereby avoid importing tissue jumbo reels. Since tissue has a high volume to weight ratio, its per ton transportation cost is approximately five times that of recycled paper. Handling and distribution costs are also reduced. In addition, the project almost doubles the value added of producing converted paper by going further up the input stream to recycled paper. The project has resulted in the employment of 106 additional staff and it will support the viability of an important source of employment for up to 900 people in the company who are mostly from the poor region of the oil producing Delta region of Nigeria.
Non-quantified development impacts include: Environment, Social, Health, and Safety: The company significantly contributes to collecting and recycling wastepaper generated in Nigeria, as it is the raw material it utilizes to produce paper. By adopting IFC's environmental health and safety standards, the company will adhere to stricter international practices, while providing its employees with safer working conditions. The host community will also benefit through greater direct and indirect employment in the area. The presence of the company in the area has enabled the community to have access to reliable power supply and improved infrastructure.
Star Paper Mill Ltd
Chief Echeme Nnana-Kalu, Chairman/CEO
Star Paper Mill Limited
114/116 Aba-Owerri Road, Umungasi, Aba
Abia State, Nigeria
Telephone: + 234 82 222473
Fax: + 234 8221 472
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The company has a tissue mill located on 10 hectares of land along the Imo River at Owerrinta and a printing and stationery manufacturing facility in Aba. Both facilities are situated in Abia state, Nigeria. In addition to the manufacturing facilities, Star Paper has branches/depots at Lagos, Kaduna, Ibadan, Onitsha, Kano, Aba and Suleja. These locations have been major assets in terms of collection of raw materials and distribution of finished products across the country. All Star Papers facilities have good access to infrastructural facilities such as electricity, telephone, access roads and railway.
Owerrinta and Aba town are located on a triangular stretch of road leading to:
- The oil producing areas of Rivers, Delta, Cross Rivers and Akwa Ibom states.
- The commercial centers of Onitsha, Nnewi and Abakiliki. It is equidistant to the export processing zones of Calabar and Onne.
The towns are close to two international airports: Port Harcourt and Calabar, besides being close to the domestic airports of Owerri and Enugu.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AD - Paper Tissue
Total: $10.00 million
10000000.00
10000000.00
Star Paper Mill Ltd
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25335/star-paper-project
XM-DAC-903-SPI-25475
International Finance Corporation
Socketworks II
Socketworks Limited (Socketworks or the company) is a privately held Nigerian limited liability corporation. It was established in June 2002. It has been supported by the IFC since this time by way of capacity-building and advisory support services through the African Project Development Facility (APDF) as well as a loan (signed in February 2006). Socketworks is a software and outsourcing company that aims to provide packaged ICT solutions to its clients. In the education market, it has developed software (trademarked CollegePortal) that has been endorsed by the Nigerian Universities Commission as the most suitable management software for Nigerias universities. Socketworks packaged solution for universities is helping universities automate their processes (eg: student admissions and registration, course selection, course management, exam management, facility management) that are currently done manually and is providing internet access that would not otherwise be available. These services are making an enormous difference to universities in Nigeria that otherwise have no ICT systems. The company has also begun implementing e-Government contracts to automate and improve the efficiency of various government services such as immigration and pensions. The proposed IFC investment will be comprised of equity and/or debt financing for the following: - Implementation of 19 polytechnics contracts in Nigeria, each consisting of a bundled solution, involving the provision of both hardware and software to each institution. - Expansion of the SocketWorks into Sierra Leone, Ghana, Uganda, Liberia, and Kenya as well as the implementation of new university and e-Government contracts in each new country.
The investment in Socketworks fits well with IFCs overall developmental objectives because universities in Africa are essentially devoid of information technology. Computing and internet facilities do not exist. The provision of modern IT equipment is expected to dramatically improve the education provided in Africa because it will enable students and faculty alike to access the latest publications and knowledge from the World Wide Web. It will also improve the efficiency of the administration of African universities, freeing up resources for more productive uses. Similar benefits are expected in the various government departments where SocketWorks has signed or plans to sign contracts.
SocketWorks Nigeria Limited
Aloy Chife President/Chief Executive Officer Socketworks Limited #20 Admiralty Way Lekki Phase One Lagos, Nigeria
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
SocketWorks is headquartered in Lagos, Nigeria. The company either has, or plans to open, country offices in (or relocate staff to) Freetown, Sierra Leone; Monrovia, Liberia; Accra, Ghana; Kampala, Uganda; and Nairobi, Kenya. Implementation of SocketWorks contracts takes place at various universities throughout each of the countries in which the company operates.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AB - Colleges, Universities, and Professional Schools
Total: $4.00 million
4000000.00
4000000.00
SocketWorks Nigeria Limited
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25475/socketworks-ii
XM-DAC-903-SPI-25677
International Finance Corporation
UPDC Company
UACN Property Development Company PLC (UPDC or the Company) is a leading Nigerian property development and management company listed on the Lagos stock exchange. As UPDC continues to grow, IFC will assist in financing its overall capital expenditure and working capital program for 2007 through 2009. The three-year capital expenditure program includes construction of the Victoria Mall & Plaza consisting of a complex of 36 high-end luxury apartments, a 15-storey office tower, a multi-storey car park with 450 spaces, a shopping center and a 160-room 4-star hotel. IFCs financing will be used mainly for the Victoria Island Mall Plaza project.
The project will have a significant impact on an estimated 1,000 future retailers in the Victoria Island Mall Plaza and 150 office renters who want to rent space in improved or newly available facilities. It is anticipated that the project will create approximately 200 new jobs with the expansion of UPDCs tenants operations and through the Victoria Island Hotel. The project will also provide small retailers and businesses with a common and improved standard of commercial facilities that will draw more demand for their services. Nigerias main cities are already seeing improved commercial and residential services thanks to recent construction and renovation. UPDC will contribute to this trend, complementing new growth with facilities that cater to a cross section of middle to upper end users who look for both value and convenience.
UACN Property Development Company Plc
Stephen S. Mayaki, Managing Director UACN Property Development Company PLC Niger House, 1-5 Odunlami St., P.O.Box 156 Lagos, Nigeria Telephone: 011 2341 791 90 09; 011 234 803 301 76 65 Fax: 011 234 1 266 26 81
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The site is situated on Victoria Island (VI), one of the main commercial and up-market residential areas in the capital. The Lekki Peninsula, slated for extensive development as a further extension of the city with quality residential accommodation, retail centers and commercial properties, is an extension of VI. The 1.72 hectare, rectangular site is located on Bishop Aboyade Cole street, just behind the Exxon/Mobil headquarters building which fronts the Lekki Expressway, the main dual carriageway road leading from VI to Lekki. It is thus relatively easily reached (Lagos traffic permitting) from the citys main concentration of corporate activities on both VI and Lagos Island and will be well positioned to serve the existing residential communities of VI and Ikoyi and the future developments in Lekki.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Construction and Real Estate
Total: $40.00 million
40000000.00
40000000.00
UACN Property Development Company Plc
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25677/updc-company
XM-DAC-903-SPI-25763
International Finance Corporation
Moorhouse Properties Limited
Moorhouse Properties Limited (MPL or the Company) is embarking on a $37.4 million expansion Project which involves the (i) construction of two 3- star hotels and two 2-star hotels to be implemented respectively by its operating companies A. M. Hotels Limited (AMHL) and MP Budget Limited (MP Budget); (ii) setting up of its corporate office and (iii) refinancing of debt (the Project). The main purpose of the Project is to meet demand in the middle and budget segments of the Nigerian hotel market by developing an easily-recognizable international brand (Ïbis) and an indigenous value brand (Travelhouse) of international standard. MPLs expansion model is centered on offering to business and leisure travelers, comfortable and moderately priced lodging facilities in markets where such products are presently not available. The emphasis is on providing room quality with less public area, food and beverage outlets than a full service.
The proposed Project will (i) bridge the supply gap for high quality under-served hotel markets in major business cities in Nigeria which is presently met with sub-standard accommodation and guest houses, (ii) contribute to the improvement of the business infrastructure of the country, (iii) create significant job opportunities to the local people and linkages with other sectors of the local economy many of which are SMEs, both during Project implementation and ongoing operations, such as small contractors, building material suppliers, agricultural and food processing, textiles manufacturers, etc, (iv) encourage improvements in the standards of existing hotels and transfer of hotel management expertise and training of the local staff, and (v) the Project has the potential to provide a demonstration effect and kick off the development of a mid and budget market hotel segment in Nigeria. It is also important to note that international chains assure guests of an established product and service quality; often encourage broad improvements in the standards of existing hotels; and provide staff with compensation usually above local norms.
MOORHOUSE PROPERTIES LIMITED
Main Sponsor Contact Messrs Koye Edu and Gbolly Balogun Moorhouse Properties Limited, 3A Macpherson Avenue, Ikoyi, Lagos. Nigeria + 234 803 6662002 and + 234 8034030131
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The AMHL hotels will be located in Lagos and Ibadan cities of Nigeria. The proposed sites for Lagos and Ibadan are greenfield locations, close to business establishments and major roads. The Travel house budget hotels will be located in and around Lagos city.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - City and Business Hotel
Total: $14.90 million
7500000.00
7400000.00
7500000.00
MOORHOUSE PROPERTIES LIMITED
7400000.00
MOORHOUSE PROPERTIES LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25763/moorhouse-properties-limited
XM-DAC-903-SPI-25986
International Finance Corporation
AMSME Diamond
The proposed project consists of providing Diamond Bank Plc with a senior corporate loan of up to $20 million in conjunction with an advisory services package which would include up to two years of on-site advisory services to be conducted by a consortium of expert advisory firms.
Diamond Bank Plc was incorporated in Nigeria as a private limited liability company in December 1990. In February 2001, the banks Commercial Banking License was upgraded to a Universal Banking License. Diamond Bank Plc offers a full range of products and services in retail, commercial, corporate and investment banking, including investment, debt, equity, lending and transactional services.
The project is expected to make a significant contribution to economic development by increasing access to finance through the provision of much needed financing for micro, small and medium enterprises.
DIAMOND BANK PLC
Mr. U.K. Eke
Executive Director, Commercial Banking
Diamond Bank Plc
Plot 1261 Adeola Hopewell Street
P.O. Box 70381
Victoria Island
Lagos State, Nigeria
Telephone: +2341 261 0740
Fax: +2341 261 78 16
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Diamond Bank Plc is headquartered in Lagos, Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $20.00 million
20000000.00
20000000.00
DIAMOND BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/25986/amsme-diamond
XM-DAC-903-SPI-26742
International Finance Corporation
AB Microfinance Bank
The project will support the creation and expansion of a new microfinance bank (AB Microfinance Bank Nigeria Limited) in Lagos State of Nigeria. The new bank will provide a broad range of financial services to MSMEs and lower income populations in Nigeria. It expects to start operations in October 2008 and aims to serve approximately 50,000 borrowers and a similar number of depositors by the fifth year of operations.
The project will have a high development impact considering that microfinance has been shown to play a major positive role in reducing poverty and unemployment in developing countries. The initiative will strengthen the provision of microfinance services in Nigeria, where access to finance remains extremely limited for low-income populations. By creating a new institution able to sustain microfinance on commercial terms and following best practices, the project has the potential to generate a substantial increase in the long-term availability of financial services for the poor. The project will also have a demonstration effect by showing local financial institutions that microfinance can be sustainable and generate commercial returns.
AB MICROFINANCE BANK NIGERIA
Access Microfinance Holding AG Linienstraße 126 10115 Berlin, Germany Telephone: +49 30 308747 0
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The new bank will focus on micro and small enterprises in urban and peri-urban areas, beginning in Nigerias commercial and financial capital, Lagos. Over time, the bank will expand into other regions of the country.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Commercial Banking - Microfinance and Small Business
Total: $6.83 million
5100000.00
1730000.00
5100000.00
AB MICROFINANCE BANK NIGERIA
1730000.00
AB MICROFINANCE BANK NIGERIA
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26742/ab-microfinance-bank
XM-DAC-903-SPI-26806
International Finance Corporation
Hygeia II Project
Hygeia Nigeria Limited (HNL or the Company), headquartered in Lagos Nigeria, is an integrated health care company offering both hospital and health maintenance organization (HMO) services to the formal sector. The Company owns and operates three Lagoon Hospitals in Apapa, Ikeja and Victoria Island. In addition, HNL manages 14 worksite clinics and provides HMO cover for over 250,000 lives through a network of over 1400 clinics and hospitals throughout Nigeria. This is a repeat investment by IFC in the Company. IFC initially invested in HNL in 1999 through the African Enterprise Facility and this project is now complete. Subsequent to this, in 2007 IFC undertook a further investment in HNL to facilitate renovation and expansion of the hospitals, assist with implementation of information technology system, refinance debt and provide working capital. This investment is still in progress. The Company is undertaking an expansion of it hospital network (Lagoon Hospitals) and Health Management Organization (HMO) operations through: - the upgrade of existing information technology (IT); - construction of a 30-bed hospital; and - construction of an oncology centre at one of its hospitals in Lagos including an additional 20 beds (the Project).
The Project is expected to have a strong development impact by increasing availability of quality healthcare including renal and oncology services which are currently in short supply in Nigeria. In addition, the Project will increase access to quality healthcare through the expansion of lives covered through HNLs HMO operations. Lastly, through improvements in operational efficiencies and quality standards, the Project will demonstrate best-in-country administrative and patient care practices throughout the medical community.
HYGEIA NIGERIA LIMITED
Mrs. Fola Laoye, Managing Director 14 Amodu Tijani Close Victoria Island, Nigeria Website: www.hygeiagroup.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Project includes the construction of two new hospital facilities in Lagos. The process to determine the exact locations is on-going.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Hospitals and Clinics
Total: $5.00 million
5000000.00
5000000.00
HYGEIA NIGERIA LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26806/hygeia-ii-project
XM-DAC-903-SPI-26872
International Finance Corporation
AMSME EBN Project
This project comprises a senior loan of up to $25 million or equivalent in Nigerian Naira to Ecobank Nigerial Plc (EBN) under the African Micro Small and Medium Enterprises Program. EBN was established in Lagos, Nigeria in 1986 as a public limited liability company and was granted banking license in April 1989. It is a subsidiary of Ecobank Transnational Incorporated (ETI or the Group). This project is a child project of ETI Facility (#26109) , an SPI of which was first published on November 6, 2007 and revised on January 29, 2008.
The project is expected to have several key development impacts: - strengthening the banking sector in Nigeria; - increasing credit access to micro, small and medium enterprises (MSME) and housing sub-sectors; and - ultimately creating employment opportunities for more people in the Sub-Saharan region.
ECOBANK NIGERIA LIMITED
Offong Ambah, Managing Director Ecobank Nigeria Plc Plot 21, Ahmadu Bello Way P.O. Box 72688, V.I., Lagos, Nigeria Telephone: +234 (1) 7613739 Fax: +234 (1) 2615285 E-mail: oambah@ecobank.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
With its head office in Lagos, EBN operated nationwide in Nigeria through 98 branches with a staff force of 2,109 as of June 30, 2007.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $125.00 million
125000000.00
0.00
125000000.00
ECOBANK NIGERIA LIMITED
0.00
ECOBANK NIGERIA LIMITED
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/26872/amsme-ebn-project
XM-DAC-903-SPI-27660
International Finance Corporation
Tantalizers PLC
Tantalizers (Tantalizers or the Company), the second largest fast food (Quick Service Restaurant or QSRs) operator in Nigeria, with 49 retail outlets is seeking to: (i) expand by an additional 6 outlets, (ii) renovation of 15 existing outlets, (iii) improve its E&S standards, (iv) purchase kitchen and other operating equipment, and (v) supplement its working capital with the provision of incremental working capital
The Project will provide the company with long-term financing to expand its no of outlets. In addition, the Project will enable the company to achieve the following: Employment: anticipated that the project will create approx. 450 permanent jobs. Gender Promotion: anticipated that two thirds of jobs created will be filled by women. E&S Standards: project will assist the company to meet international food quality standards and affordability. Suppliers: project will enable the development of other downstream businesses as well as food inputs. Skills: Through the introduction of professional management brought in by AMSCO, Nigerians who work for Tantalizers will be able to acquire new skills in the food industry. Taxes: The project is likely to make additional contribution to public revenues via increased taxes as well as those paid by suppliers of goods and services to Tantalizers.
TANTALIZERS PLC
Mrs Bose Ayeni Managing Director & Mr Folu Ayeni vice Chairman Tel No: +234 803 422 9364 Fax: + 234 1 589 9343 Address: Tantalizers PLC Mackay Plaza, I Close, 21 Road Festac Town, Lagos Nigeria
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The project will be implemented in various urban cities in Nigeria; Lagos, Abuja, Ibadan, Kaduna and Illorin
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AI - Other Food
Total: $8.50 million
7000000.00
1500000.00
7000000.00
TANTALIZERS PLC
1500000.00
TANTALIZERS PLC
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/27660/tantalizers-plc
XM-DAC-903-SPI-27737
International Finance Corporation
Helios Towers
The project consists of the nationwide expansion of a shared telecommunication infrastructure network owned by Helios Towers Nigeria Limited (Helios Towers or the Company). Helios Towers Nigeria Limited was established in 2005 to provide GSM and fixed wireless operators in Nigeria with an economically viable and environmentally friendlier outsourced alternative to in-house construction, maintenance and ownership of telecommunication tower sites. The company builds and maintains a network of telecommunications towers, and leases space on the towers to multiple GSM, fixed wireless and other providers of wireless services under long-term lease agreements.
Expand mobile telephony access: With the construction of additional tower sites, existing mobile operators will be able to expand the reach of their services both in terms of geography and capacity. In addition, since Helios Towers is not affiliated with any operator, and as its business model is predicated on sharing and collocation, the benefits of expanded access through Helios Towers will also be available to new market entrants. Collocation reduces the incremental cost of expanding service for all carriers thereby allowing them to service remote and economically less developed areas where ARPU and usage will be lower. Increase competition: The presence of Helios Towers in the Nigerian market will allow smaller and newer wireless operators to benefit from reduced barriers to entry as they will have access to leased tower facilities rather than having to build their own. Expand access to other ICT technologies: Helios Towers will be building a tower network that is capable of supporting not only mobile cellular networks, but also wireless broadband and backhaul networks, thereby improving the penetration of these technologies. Contribute to mitigating environmental impact and Climate Change: This project will provide a cost effective opportunity to telecommunication operators to reduce their carbon emission footprint by sharing infrastructure. A significant benefit of sharing tower infrastructure arises from the material, energy and emissions savings that ensue from building only one tower instead of three or four. The most immediate impact is on the visual environment, where the removal of two or three unnecessary towers creates an immediate visual benefit. The savings in resources are more significant, as only one-third or one quarter of the steel, concrete and other building materials are necessary for a shared tower. Finally, in areas of uncertain power supply like Nigeria, the ability to use only one back-up power generator to serve an area where there would formerly be 3 or 4 back-up power generators for separate towers, results in immediate and continuing reduction of harmful emissions.
HTN TOWERS LIMITED
Fazal Hussain Plot 305A Jide Oki Street, Victoria Island, Lagos, Nigeria Telephone: +234 -1-461-6349 Fax: +234-1-461-3215
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Helios Towers Nigeria Limited is headquartered in Lagos, Nigeria. The companys infrastructure and operations spreads across Nigeria.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AD - Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Total: $100.00 million
100000000.00
100000000.00
HTN TOWERS LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/27737/helios-towers
XM-DAC-903-SPI-28300
International Finance Corporation
CAPIC Protea Nigeria
CAPIC or the Sponsor is a Nigerian private equity fund that was established in 2007 to make real estate investments in Nigeria and West Africa. It is an existing IFC client and was committed on February, 12th, 2009.
The project will involve the construction of the following hotels in Nigeria:
A 3-star Protea Select brand hotel in Benin City, and
A 3-star Protea Select brand hotel in Ikeja, Lagos.
Hexagon Networks Limited and Skye Bank Plc will co-sponsor the project. The two hotels will exist in separate project companies namely; CAPIC Hexagon Limited and Skye CAPIC Limited owned by the Sponsor and respective co-sponsors. CAPIC will be the majority owner in each company.
The total Project is expected to cost $32 million of which $16 million will be financed with debt and $16 million will be financed with equity.
The IFC is considering an investment of two A Loans as follows:
$6.2 million to the CAPIC Hexagon Limited, and
$5 million to Skye CAPIC Limited.
(i) Absorb the demand for quality hotels of international standards in a major business district of Lagos and the heretofore undeveloped market of Benin city.
(ii) Improve hotel standards in the 3 star segment.
(iii) Encourage the transfer of skills and expertise in hotel management to the local workforce.
(iv) Generate direct and indirect employment opportunities for locals during construction and during operations.
(v) Provide sources of revenues for the government through the collection of taxes.
CAPIC HEXAGON NIGERIA LIMITED
Mr. Obi Nwogugu
Capital Alliance Property Investment Company LP
C & C Towers (8th. Floor),
Plot 1684 Sanusi Fafunwa Street,Victoria Island, Lagos,
Nigeria.
Telephone: 234 1 279 9678
Fax: 234 1 270 6908
Email: obi.nwogugu@aca-web.com
Website: aca-web.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The two hotels will be located in the urban areas of Lagos and Benin City where land ownership is well defined and title deeds are available. The site for the hotel in Lagos is owned by Skye Bank PLC and has been transferred to the Special Purpose Vehicle (SPV), Skye Capic Limited. The site is currently being used by Skye Bank as vehicle parking space for staff as well as storage for the banks various materials. It is secured by a wall, which has prevented irregular occupation. The hotel in Benin City will be established on a site previously utilized for similar purposes i.e., the Emotan Hotel, which reportedly ceased operations in 2002. Existing structures on this site will be demolished to accommodate the new CAPIC Hexagon Limited hotel. In both instances land purchases are on a willing seller/willing buyer basis; thus PS5: Land Acquisition and Involuntary Resettlement does not apply. Equally PS6: Biodiversity Conservation & Sustainable Natural Resource Management is not applicable.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - City and Business Hotel
Total: $12.20 million
12200000.00
12200000.00
CAPIC HEXAGON NIGERIA LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/28300/capic-protea-nigeria
XM-DAC-903-SPI-29383
International Finance Corporation
Guaranty Trust Bank, Plc. - V
The proposed Project is one of IFCs key responses to assist in mitigating the effects of the global financial crisis on the Nigeria banking sector. The Project is a $200 million financing to Guaranty Trust Bank (the Bank or GTBank) one of largest and systemically important banks in Nigeria. The Project is expected to provide the Bank with significant long-term financing to help it pursue its strategic objectives within the constraints of the recent global financial crisis. The Project is also expected to send positive signals to the market, aimed at improving confidence within the Nigerian financial sector, as well as with international investors.
Stamp of approval: IFCs involvement in the Project demonstrates its commitment to the Nigerian banking sector during adverse market conditions and validates the long-term viability of a systemically important bank. This stamp of approval should facilitate future fund-raising efforts that might be undertaken by well-run banks in Nigeria.
Access to scarce dollar long-term financing: Given the difficult global market conditions, IFC is probably one of the very few sources of long-term funding of such magnitude available to the banking sector in Nigeria.
Knowledge sharing: IFCs ability to engage strategically with the Bank and provide support to further enhance the Banks implementation of a social and environmental management system.
GUARANTY TRUST BANK PLC
Mr. Segun Agabje
Deputy Managing Director
Guaranty Trust Bank Plc.
Plural House, Plot 1669
Oyin Jolayemi Street
Victoria Island
Lagos, Nigeria
(234) 1 262 2696
(234) 1 262 2693
segun_agbaje@gtbplc.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank is headquartered in Lagos, Nigeria with 158 branches nation-wide branch network in Nigeria and international banking subsidiaries and representative offices in the Gambia, Ghana, Liberia Sierra Leone and the UK.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $200.00 million
170000000.00
30000000.00
170000000.00
GUARANTY TRUST BANK PLC
30000000.00
GUARANTY TRUST BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29383/guaranty-trust-bank-plc-v
XM-DAC-903-SPI-29384
International Finance Corporation
FCMB II Project
IFC proposes to provide First City Monument Bank Plc (FCMB or the Bank) with (i) a senior loan of up to $50 million which will be targeted at SMEs in the Health, Education and Agribusiness sectors; and (ii) straight equity or quasi equity of up to US$25 million. The loan component of the Project will have a 7-year maturity and a grace period of 2-years. The Project is expected to provide the Bank with significant long-term financing to help it pursue its strategic objectives within the constraints of the global financial crisis. The Project is also expected to assist FCMB with further enhancements to the Banks corporate governance and risk management practices. Further, it is also expected to send positive signals to the market, aiming at improving confidence within the Nigerian financial sector, as well as with international investors.
Stamp of approval and support of Nigerian banking sector: IFC involvement in the Project demonstrates (i) commitment to the banking sector of Nigeria at times of adverse market conditions and validates the long-term viability of a strong tier II bank; and, (ii) Providing and mobilizing scarce long-term funding under the current market conditions; and (iii) Provision of an integrated advisory program that will assist the Bank in the areas of corporate governance with particular focus on risk management.
FIRST CITY MONUMENT BANK LIMITED.
Mrs. Olayemi Idris-Animashaun
IFC Nigeria Office
121 Louis Solomon Close
Victoria Island, Lagos, Nigeria
Telephone: +234-1-279-9422
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank is headquartered in Lagos, Nigeria with 149 branches across the country, a subsidiary in London and recently obtained regulatory approval to open a representative office in South Africa.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Commercial Banking - General
Total: $75.00 million
75000000.00
75000000.00
FIRST CITY MONUMENT BANK LIMITED.
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29384/fcmb-ii-project
XM-DAC-903-SPI-29624
International Finance Corporation
Microcred Microfinance Bank Nigeria Limited
The project will support the creation and expansion of a new microfinance bank MicroCred Nigeria Microfinance Bank Limited (MC Nigeria or the Bank) in Kaduna State of Nigeria. The Bank will provide a broad range of financial services to micro, small and medium enterprises (MSMEs) and lower income populations in Nigeria. The Bank obtained its license from the Central Bank of Nigeria in January 2010 and commenced operations in March 2010. The Bank expects to serve approximately 32,000 borrowers and 76,000 depositors by the fifth year of operations
The project will have a high development impact considering that microfinance has been shown to play a major positive role in reducing poverty and unemployment in developing countries. The initiative will strengthen the provision of microfinance services in Nigeria, where access to finance remains extremely limited for low-income populations. By supporting a new institution able to sustain microfinance on commercial terms and following best practices, the project has the potential to generate a substantial increase in the long-term availability of financial services for the poor. The project will also have a demonstration effect by showing local financial institutions that microfinance can be sustainable and generate commercial returns.
BAOBAB MICROFINANCE BANK NIGERIA LIMITED
Olugbolahan Mark-George Chief Executive OfficerMicroCred Microfinance Bank Nigeria Limited
1 Kachia Road, Kaduna, Nigeria
+234 7098211849
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
MC Nigeria will focus on MSMEs and low income populations with credit and savings services. The Bank has set up its first branch and head-office in Kaduna city and plans to expand throughout the [Kaduna] state by creating a network of branches and service points. At a later stage, MC Nigeria will consider expanding its activities to Kano State and FCT Abuja.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Commercial Banking - Microfinance and Small Business
Total: $2.96 million
1970000.00
990000.00
1970000.00
BAOBAB MICROFINANCE BANK NIGERIA LIMITED
990000.00
BAOBAB MICROFINANCE BANK NIGERIA LIMITED
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29624/microcred-microfinance-bank-nigeria-limited
XM-DAC-903-SPI-29741
International Finance Corporation
IHS Nigeria
The Project consists of an investment of up to $95 million on IFCs account and mobilization of up to $200 million to strengthen the capital structure of IHS Nigeria Plc (IHS Nigeria or the Company) to support (i) the national and regional expansion of its current operations in the areas of Tower Management and Tower Construction; and, (ii) the acquisition, leasing and maintenance of telecom towers across Sub-Saharan Africa. IHS Nigeria was incorporated in Nigeria in 2001 as an engineering company with the primary business of building and managing sites for Telcos and third party vendors seeking to build and expand their telecom infrastructure. With over 700 employees in various cities across Africa, the Company is preparing to bid on the acquisition of existing tower networks in Nigeria, Sudan, Tanzania and DRC to provide GSM and fixed wireless operators in those countries with an economically viable and energy efficient infrastructure sharing model which will serve as an cost effective alternative to in-house construction, maintenance and ownership of telecommunication tower sites. In 2009, the Company became a publicly listed company, trading on the Nigerian Stock Exchange.
(i) Expand mobile telephony access: With the construction of additional tower sites, existing Telcos will be able to expand the reach of their services both in terms of geography and capacity. In addition, collocation reduces the incremental cost of expanding service for all carriers thereby allowing them to service remote and economically less developed areas where ARPU and usage will be lower. (ii) Increased competition: The presence of IHS Nigeria will allow smaller and newer wireless operators to benefit from reduced barriers to entry as they will have access to leased tower facilities rather than having to build their own. (iii) Expand access to other ICT technologies: IHS Nigeria, directly and through its subsidiaries, will be building a tower network that is capable of supporting not only mobile cellular networks, but also wireless broadband and backhaul networks, thereby improving the penetration of these technologies. (iv) Contribute to mitigating environmental impact and Climate Change: The underlying projects developed by the Company will provide a cost effective opportunity to Telcos to reduce their carbon emission footprint by sharing infrastructure. A significant benefit of sharing tower infrastructure arises from the material, energy and emissions savings that ensue from building only one tower instead of three or four.
IHS NIGERIA LIMITED
Mr. William Saad
Managing Director
IHS Nigeria Plc
19 Bishop Aboyade Cole Street
Victoria Island
Lagos, Nigeria
Telephone: +234 1 280 0790
Fax: +234 1 2800791
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
IHS Nigeria Plc is headquartered in Lagos, Nigeria; however, the Companys infrastructure sharing operations as well as tower construction and management is expected to spread across Nigeria, Ghana, Tanzania, Sudan and the DRC. The Company already operates in Ghana and Sudan.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AD - Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
Total: $84.00 million
55000000.00
29000000.00
55000000.00
IHS NIGERIA LIMITED
29000000.00
IHS NIGERIA LIMITED
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29741/ihs-nigeria
XM-DAC-903-SPI-29867
International Finance Corporation
Food Concepts
Food Concepts (FC or the Company) is a leading Quick Service Restaurants (QSR) and bakery operator based in Nigeria. QSR is branded as Chicken Republic with 60 outlets in Nigeria, 9 of which are franchised, and three in Accra, Ghana. FC also operates 10 bakeries, branded as Butterfield. The IFC investment would support capital expenditures and working capital over a 4 year period to develop approximately 40 additional QSR outlets; expand bakery capacity by approximately 100%, and make a further investment into poultry backward integration in Nigeria (the Project).
The Project's expected development impact includes (i) employment generation; (ii) gender promotion (QSR sector employs a high proportion of women); (iii) demonstration effect to the QSR/poultry market in West Africa; (iv) MSME reach; (v) develop efficient poultry industry in Nigeria; and (vi) introduction of best practice poultry using a technical partner with a proven track record.
FOOD CONCEPTS PLC
Mr Deji Akinyanju
2, Jagal Close, Off Ikosi Road, Oregun, Lagos, NIGERIA
Tel: +234-1-271-6390
Fax: +234-1-271-6390]
e-mail: info@foodconceptsplc.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Chicken Republic outlets are located in following cities: Lagos; Abuja; Port Harcourt; Zaira; Kaduna; Owerri; Ibadan; Warri; Benin; Calabar; Enugu; and Ilorin.
Butterfield bakeries are located in following cities: Lagos; Abuja; Port Harcourt; Abeokuta; Ilorin; Benin; Kaduna; and Ibadan.
Free Range Farms Limited (FRF) is being established on a 250 hectares of land in the Abeokuta Agricultural Zone (AAZ), Ogun State.
All sites have good access to major transport routes.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AI - Other Food
Total: $20.00 million
7000000.00
13000000.00
7000000.00
FOOD CONCEPTS PLC
13000000.00
FOOD CONCEPTS PLC
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/29867/food-concepts
XM-DAC-903-SPI-30438
International Finance Corporation
Interswitch
The Project consists of an investment of up to $20 million in InterSwitch Limited (the Company or Interswitch). Interswitch was formed in 2001 by Techinvest Limited, Accenture and a consortium of seven Nigerian banks to address the need for a nationwide electronic funds transfer, transaction processing and switching entity in the country. The Company has become the leading switching entity with about the majority of Nigerias e-payment transactions routed through its payments switching infrastructure.
Interswitch is currently pursuing a strategic redirection and capital expenditure program to take advantage of growth opportunities in the sector and the region. The program would consist of (i) Phase 1: selling a significant stake of the Company to strategic equity partners/investors; and, Phase 2: subsequent funding for their 2-3 year capital expenditure program to support expansion in Nigeria and the sub-region. With this investment, Interswitch will be able to expand beyond the boundaries of its current switching business in Nigeria, and (i) penetrate the unbanked population; (ii) expand regionally; (iii) provide services to a larger addressable market in the region; (iv) penetrate further towards the base of the pyramid, building on its current debit card program and its network of POS devices; and, (v) develop more value added services for the electronic payment segment.
Providing a low-cost channel for the poor and people living in rural areas to participate more actively in the economy by providing access to the country's financial infrastructure has been shown to have a positive economic impact for both those populations and the country's economy overall. Through the Project, Interswitch will enable the Nigerian population, especially the unbanked, (i) have access to easier forms of electronic payments that will reduce cash in circulation, which has been a source of crime, fraud and corruption; and (ii) make themselves eligible for more sophisticated financial services and products.
INTERSWITCH LIMITED
Mr. Mitchell Elegbe
Managing Director
Interswitch Limited
1684c Oko Awo Close
Victoria Island
Lagos
Tel: +234 1 461 6300, +234 1 461 7822, +234 1 270 3738-40
Fax: +234 1 461 6299
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Interswitch is headquartered in Lagos, Nigeria. Its switching systems and operations are also located in Lagos.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Mobile Telephony
Total: $10.50 million
10500000.00
10500000.00
INTERSWITCH LIMITED
Summary of Project Information
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30438/interswitch
XM-DAC-903-SPI-30578
International Finance Corporation
Custodian Project
The proposed project involves an IFC investment of up to $12.5 million in Custodian and Allied Insurance plc (Custodian or the Company), a general insurance company located in Nigeria. Through Custodian and Allied Insurance Plc (or the Project), IFC will to support the Companys expansion plans within and outside Nigeria and into new products and market segments. Custodian has operated on the Nigerian market since 1995, specializing in the marketing and provision of general insurance and special risk products predominantly to corporate clients.
1. Insurance Sector Development: IFC''s support for Custodian will enhance the growth and development of the Nigerian insurance sector, thus improving the sector''s contribution to the Nigerian economy; 2. Entrepreneurship and Employment: IFC''s involvement in the Insurance Sector through Custodian will promote growth of business activities and employment in Nigeria. Entrepreneurial activities will be encouraged by the availability of appropriate and effective insurance products for risk management; 3. Government Revenues: By enhancing the capacity of the insurance sector to support business activities and employment, IFC''s investment will also enhance the growth of government revenues from taxation of insurance and other business activities; 4. Long-Term Funding Source: IFC''s support for Custodian will also facilitate the generation of long term funds through the growth of insurance premiums, thereby addressing the shortage of local currency financing for infrastructure development in Nigeria.
CUSTODIAN AND ALLIED INSURANCE LTD
Wole Oshin CEO Custodian and Allied Insurance, PLC Stillwater House 14B Keffi Street S.W. Ikoyi Lagos
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
Custodian is headquartered in Lagos and operates across Nigeria. The Company sources business essentially through brokers and its own sales force.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
JB - General Insurance (Non-Life)
Total: $12.50 million
12500000.00
12500000.00
CUSTODIAN AND ALLIED INSURANCE LTD
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30578/custodian-project
XM-DAC-903-SPI-30736
International Finance Corporation
Advans Nigeria
The proposed investment involves an IFC equity, debt and advisory services package to help establish La Fayette Nigeria Microfinance Bank Limited (La Fayette Nigeria or the Company), a greenfield microfinance institution to be located in Oyo State, Nigeria (the Project). The Project is expected to address the severe lack of access to affordable financing in the region.
The Company is expected to help reduce unemployment and poverty in the western state of Oyo by: (i) increasing access to microfinance services; (ii) supporting the development and growth of the local MSME finance sector; and (iii) serving as a role model for good practices in the sector.
LA FAYETTE MICROFINANCE BANK LIMITED
Alberto Didoni Investment Officer Advans SA SICAR Horus Development Finance 39, rue La Fayette 75009 Paris, France Tel. +33 1 53327575 Email: contact@advansgroup.com Web: www.advansgroup.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
La Fayette Nigeria will be based in Ibadan, Oyo State, in western Nigeria. The Company seeks to establish 11 branches over the first 5 years of operations. The investment will support the entirety of the Companys operations.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AC - Commercial Banking - Microfinance and Small Business
Total: $3.56 million
2480000.00
1080000.00
2480000.00
LA FAYETTE MICROFINANCE BANK LIMITED
1080000.00
LA FAYETTE MICROFINANCE BANK LIMITED
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30736/advans-nigeria
XM-DAC-903-SPI-30795
International Finance Corporation
Diamond Bank JV
IFC proposes to provide Diamond Bank Plc (Diamond Bank or the Bank) with a subordinated convertible loan of up to US$70 million to support its expansion strategy, strengthen its capital base and enhance its corporate governance and risk management practices. Furthermore, it is expected to send positive signals to the market, aimed at improving confidence within the Nigerian financial sector, as well as with international investors. The Project will also provide the Bank with significant and stable long-term financing to help it grow its business.
IFC will be providing and mobilizing long term funding and support at times of adverse market conditions. In addition, it will be providing an integrated advisory program that will assist the institution to strengthen its corporate governance.
DIAMOND BANK PLC
Abdulrahman Yinusa Executive Director/ Chief Financial Officer Diamond Bank Plc PGDs House, Plot 4, Block 5 BIS Way, Off Lekki Epe Expressway Lekki Lagos, Nigeria (+234) 1 270 1500 Email: mailto:abyinusa@diamondbank.com Local access to Project documentation:
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Bank is headquartered in Lagos, Nigeria with 220 branches across the country, a subsidiary in Republic of Benin, Togo and Senegal.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
O-AA - Commercial Banking - General
Total: $67.20 million
67200000.00
67200000.00
DIAMOND BANK PLC
Summary of Project Information
See Environmental and Social Management System (ESMS) summary tab.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30795/diamond-bank-jv
XM-DAC-903-SPI-30933
International Finance Corporation
Persianas Group
Persianas Group (the Company or Persianas) is the developer of the first, internationally specified, purpose-built mall (The Palms Shopping Mall) in Nigeria. The Companys existing portfolio comprises the Palms Shopping Mall and Polo Park Mall in Lagos and Enugu State respectively which are in operation and two other malls in Kwara and Oyo States that are under development. The Companys vision is to develop and list Nigerias first investment grade real estate portfolio. The Nigerian real estate sector is expected to produce high growth in the medium term driven by the recovering economy, and other high growth sectors of commerce, construction, telecommunications, and a recovery in the financial services sector. This is expected to lead to demand for real estate product in all sectors in an environment where there is a dearth of quality stock of real estate and the market is undersupplied. To address Nigerias vastly underserved commercial property, Persianas is undertaking a restructuring and expansion of its operations which involves the: i) building and development of new retail and mixed used centres; ii) establishment and development of a professional asset management company; and iii) restructuring of the Companys balance sheet (The Project). At completion, the new Project is expected to provide at least approximately 140,000 square meters of business infrastructure.
The Project is expected to have the following impacts: i) Improvement of food security - rollout of modern food retailing as planned anchor for every development. ii) Direct and indirect employment - retail and service jobs; possibility for linkages. iii) Tax revenues will accrue to the government. iv) Development of critical business infrastructure in Africa''s second largest market, and most populous nation. v) Elevation of commercial real estate standards - throughout the country. vi) Better aesthetic environment, particularly states outside Lagos undergoing redevelopment.
Persianas Limited
Mr. Adetayo Amusan Persianas Investment Limited Plot 999A, Danmole Street, Victoria Island, Lagos, Nigeria. Telephone: +234 1 741 9100 Email: mailto:tayoa@persianasgroup.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Project will be implemented in different states within Nigeria. Some project sites have been identified and are in various stages of development and operation. These include: Lagos Sate: The Project will be located on approximately 69,000 square meters of land at the Oniru Chieftaincy Family Private Layout, Victoria Island Annex, Lekki-Pennisula, Eti-Osa Local Government Area. Oyo State: The Project will be located on approximately 77,210 square meters of land along M.K.O Abiola Road, Ibadan in Ibadan South West Local Government Area of Oyo State. Enugu State: The Project is located on approximately 83,000 square meters of land at Polo Park grounds in GRA, Enugu, along the Abakaliki Expressway, Enugu State. Kwara State: The Project will be located on approximately 32,240 square meters of land at Fate Road/ Alhaji Tunde Mohammed Road, by Nigeria Television Authority Station, Ilorin, Kwara State. Persianas expects to develop additional mall projects during the lifetime of IFCs proposed investment, and may also acquire existing buildings for redevelopment and subsequent letting.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
AA - Construction and Real Estate
Total: $87.00 million
50000000.00
37000000.00
50000000.00
Persianas Limited
37000000.00
Persianas Limited
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30933/persianas-group
XM-DAC-903-SPI-30967
International Finance Corporation
Eleme Fertilizer
The Project (Eleme Fertilizer) consists of the construction of a nitrogenous Fertilizer Complex at the existing Eleme Petrochemicals site in Port-Harcourt, Nigeria. The project will include an Ammonia plant, a Urea production plant, supporting boundary infrastructure, and an 84km gas pipeline from the gas suppliers facilities. Total plant capacity will be 2,300 metric tons per day (MTPD) of ammonia, and 4,000 MTPD of granulated urea. A new port terminal will also be constructed at the nearby Onne Port to support the fertilizer complex; however the port is not being financed by the IFC. With exception of the external natural gas facilities, all main associated off sites and utilities necessary to make the fertilizer plant self-supporting are already in existence at the Eleme Petrochemicals Complex. At completion, Eleme Fertilizer will supply the domestic fertilizer market in Nigeria, and also export directly into the international urea market. The plant is expected to be completed and commence operations by early 2016. The IFC plans to support the project by providing senior debt, mobilizing 3rd party funding, and potentially making an equity investment.
The expected development benefits from the project are: (i) Food Security: Contribution to the development of the agricultural sector and unlocking its potential, thereby reducing Nigeria''s dependence on imports. The project will increase fertilizer production which promotes intensive agricultural production, and will improve crop yields. (ii) Economic Diversification: Increased value addition to a natural resource in Nigeria (i.e. natural gas), and advancement of the downstream chemicals sector. The project supports regional fertilizer capacity in Sub-Saharan Africa, which is a growing market heavily reliant on imports. (iii) Employment: Creation of significant direct and indirect employment opportunities. (iv) SME Development: Removal of obstacles that prevent farmers with small land holds from efficiently optimizing their crop yields and maximizing their incomes. (v) Current Account Impact: Foreign exchange savings by import substitution. (vi) Demonstration Effect: The project is expected to have a positive signal for other foreign investors on the government''s commitment for economic diversification and agricultural transformation project
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Mr. Utpal K Chatterjee, Indorama Eleme Fertilizer & Chemicals Ltd Project Director East West Expressway , Eleme, PMB-5151, Port Harcourt Rivers State , Nigeria +2348052224609 http://www.indoramaeleme.com
International Finance Corporation
+12024733800
ccspg@ifc.org
www.ifc.org
2121 Pennsylvania Avenue, NW Washington DC 20433
Nigeria
The Fertilizer complex will be located within the existing Eleme Petrochemicals premises, which is one of the major large scale industrial units in the oil belt of Port-Harcourt, Rivers State, in the South-Southern region of Nigeria. Eleme Petrochemicals complex is currently self- sufficient in offsite, utility, storage, administration, safety, and commercial activities. The complex site covers a fully developed, and secured area of c.361 hectares. The new fertilizer plant will require about c.38 hectares.
Location description
A description that qualifies the activity taking place at the location.
10.0000000000 8.0000000000
G-DA - Nitrogenous Fertilizer
Total: $150.00 million
150000000.00
150000000.00
INDORAMA ELEME FERTILIZER AND CHEMICALS LTD
Summary of Project Information
See sections Identified Applicable Performance Standards, Stakeholder Engagement, Environmental and Social Action Plan, E&S Categorization Rationale.
Please refer to the Environmental & Social Categorization Rationale tab in the project disclosure document, as well as the Mitigation Measures/Environmental and Social Action Plan tab when applicable. https://disclosures.ifc.org/project-detail/SPI/30967/eleme-fertilizer