Higest is 95% owned by Manuel Teixeira de Almeida, wife and his sons. Mr. de Almeida is a Portuguese entrepreneur with an economics background with more than 40 years of experience in the poultry sector.

 The total Project cost is estimated at US$27 million, of which 16% will be funded with IFC’s A Loan, and 84% is funded by local banks and internally generated cash under the first phase of the Project. The IFC proposed investment consists of a secured loan of up to US$4.22 million and will be denominated in MZN with support from the IDA PSW LCF. 

  The project is in Machava, Maputo Province in Mozambique. 

 Higest has implemented fundamental governance practices as per the IFC progression matrix for family-owned companies. The current structure presents no significant risk to the development impacts of the Project.

 This is a Category B project according to IFC's 2012 Policy on Environment and Social Sustainability. The project will have limited adverse E&S impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures described in the attached ESAP and good international industry practices (GIIPs). Key E&S risks and issues associated with the proposed project include: (a) company’s capacity and E&S management systems for the expansion and operations of the hatchery in line with IFC Performance Standards (PSs), including adequate E&S risk assessment; (b) assurance of fair, safe and healthy working conditions in compliance with legal requirements and IFC PS2 for employees and contract workers; (c) management of air emissions, wastewater and solid/hazardous waste in line with WBG EHS Guidelines; (d) life and fire safety, emergency preparedness and response; (e) community impacts due to traffic and security and grievance mechanism; (f) adoption of animal welfare practices at the hatchery and the broiler farms; and (g) compliance with IFC PS2/PS6 supply chain requirements for outgrowers.