PROJECT

Projects

Summary of Investment Information

Project Number

38327

Company Name

GLOBAL TEA AND COMMODITIES LTD

Date SPI Disclosed

May 14, 2018

Country

Malawi

Region

Africa

Projected Board Date

Jun 15, 2018

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 29, 2018

Department

Regional Industry - MAS Africa

Industry

Agribusiness and Forestry

Previous Events

Approved : Jun 14, 2018
Signed : Jun 21, 2018
Invested : Sep 25, 2018

Sector

Coffee, Cocoa, Tea

Additional Project Attributes

Blended Finance

Project Description

The proposed investment is up to US$8 million senior secured loan, comprised of up to US$4 million each from IFC and the Global Agriculture and Food Security Program (“GAFSP”), to Global Tea & Commodities Ltd. and five of its subsidiaries: namely, Global Tea & Commodities (Kenya) Ltd., Gold Crown Foods (EPZ) Limited, Gold Crown Beverages (Kenya) Ltd., Global Tea & Commodities (Malawi) Ltd., and Sable Farming Company Ltd. (together “Global Tea” or the “Group”).

Global Tea is an agribusiness group with macadamia and coffee plantations in Malawi, as well as tea sourcing business and tea packing facilities in Kenya.  The proposed IFC/GAFSP investment will support the Group’s capacity expansion in Malawi and Kenya.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation