Nafith is a Jordanian private joint stock company providing freight transportation logistics services to Aqaba Port, Jordan’s sole seaport, implementing and operating a TCS to facilitate cargo movement across country border under a 10 year Public Private Partnership (“PPP”) ending in February 2018. Nafith deploys NTELX technology under license and focuses on operations and business development employing around 250 employees across Jordan.

Launched in 2006, Aqaba’s TCS is currently Jordan’s largest e-Government project and the largest in the transportation sector regionally adding over US$100 million per annum to Jordan’s GNP, according to an economic impact assessment conducted by Nathan Associates in January 2011. Aqaba TCS, (i) reduced trucking costs to and from inland points by around 20%; (ii) increased efficiency and security of port infrastructure; (iii) reduced road congestion leading to higher turn times with better accessibility to terminals with improved reliability; and, (iv) reduced vehicle emissions and accidents.
Today Nafith is used by 176 companies collectively owning more than 10,000 trucks and employing more than 10,000 truckers. Over 2,000 truck permits are issued daily by Nafith managing over 2,500 truck movements daily. Nafith is currently able to capture over 20,000 logistics events daily and maintains over 99% uptime.

The Company has been continuously adding new services to diversify its revenue sources with the objective of creating a centralized hub for ports, trade and transport stakeholders facilitating trade and transport transactions in an electronically efficient and secure manner. Nafith is also actively pursuing growth opportunities to expand into new markets in the MENA region and other African countries replicating its Aqaba success, including Saudi Arabia and Morocco.

Shareholders: Nafith is owned 50% by NTELX Inc. USA, 35% by Mrs Ghada Issa Mubadda and 15% by Ms. Nourah Mehyar.
NTELX, Inc: USA based company founded in 1999 recognized as the world leader in logistics data integration and predictive analysis deploying advanced operational decision making systems to enhance freight transportation productivity, efficiency and security. NTELX is not involved in the day to day operations of Nafith; however, they are represented by 2 out of 4 members on Nafith’s board of directors. In 2009, NTELX was awarded the Intelligent Transportation Society of America Award for the most innovative and effective use of advanced technology in surface transportation for the Aqaba port access system, beating out systems from GM’s OnStar and NavTeq. In 2011, NTELX achieved an annual turnover of US$9.6 million with an asset base of US$4.9 million, total debt of US$1.3 million and shareholders’ equity of US$2.7 million.

Ghada Mubadda: wife of Mr. Sameer Mubarak, chairman of the board managing and leading the business growth along with Ms. Mehyar. Post restructuring, shares will be held in the name of Mr. Mubarak.

Nourah Mehyar (CEO and Board Member): accumulated significant sector and project management experience: Telaterra Software project manager. She holds a bachelor degree in IT and Project Management from the Project Management Institute and an MSc in Enterprise Management from Durham Business School, United Kingdom.

Total Project cost is estimated at around US$8.2 million.

Nafith invited IFC to invest up to US$3.5 million in quasi-equity/equity to support the Company in three main areas, (i) development and commissioning of Iraq project; (ii) widen the scope of service offering to diversify revenue sources extending the Company’s reach beyond TCS; and, (iii) expansion plans of entering new markets across the MENA region and other African countries, including Morocco and Saudi Arabia.

5.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	5.0

* These investment figures are indicative

Iraq, Basra governorate

(i) create employment opportunities;
(ii) decrease congestion at gates and berths thus increasing port throughput;
(iii) enhance port efficiencies by streamlining operations and hence reducing freight cost;
(iv) contribute to government revenues through collection of revenue share on an annual basis;
(v) demonstration effect to engender competition.

(i) provide long term US$ funding to support Nafith Iraq project development and future expansion plans;
(ii) provide guidance and global industry knowledge given IFC''s solid relationship network and expertise;
(iii) provide stamp of approval and establish long term partnership sending a signal of confidence that will support the Company''s expansion plans beyond Iraq;
(iv) support and strengthen Nafith''s corporate governance;
(v) support and enhance Nafith E&S standards and performance.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Human Resources Policies and Procedures(%)	Human Resources Policies and Procedures(%)		Not Available	Not Available	Not Available
Direct Employment (#) - Operations and Maintenance	Employment (#)		Not Available	Not Available	Not Available
Female Direct Employment (#) - Operations and Maintenance	Female Employment (#)		Not Available	Not Available	Not Available

This is a Category B corporate investment according to IFC’s Environmental & Social Review Procedure because the operations of this logistics company are likely to result in a limited number of specific EHS impacts, which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. It is expected that once the Nafith truck control systems are fully operational they will lead to improved fuel efficiency and road safety at the facilities in which they are deployed; in addition, their use is expected to lead to significantly reduced driver wait times, improvements in driver working conditions and services, reduced fuel usage and reduced traffic congestion.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.