42507 - Ceramic Tile AF

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Summary of Investment Information

Project Number

42507

Company Name

TILEMASTER INVESTMENT LIMITED

Date SPI Disclosed

Dec 18, 2019

Country

Senegal

Region

Africa

Projected Board Date

Feb 28, 2020

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jul 26, 2023

Department

Regional Industry - MAS Africa

Industry

Manufacturing

Previous Events

Approved : Apr 6, 2020
Signed : Jun 30, 2020
Invested : Jul 24, 2023

Sector

Pottery, Ceramic, and Plumbing Fixtures (Including Kitchenware)

Project Description

IFC will provide a financial package (consisting of both debt and equity) to Brightstar Investment Limited (Brightstar or the Company) or its direct parent company (yet to incorporated), to finance its capital expenditure program to (i) expand an existing ceramic tiles manufacturing plant in Ghana and (ii) construct/finalize completion of five greenfield ceramic tiles manufacturing plants – one each in Senegal, Cameroon, Mozambique, Zambia and Democratic Republic of Congo.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	115.0
Equity	27.0

Development Impact

The most significant expected Project-level outcomes are economy-wide and employment effects, and skills development. Beyond the Project, IFC anticipates that the Project will have a strong effect in integration via increasing manufacturing complexity; and of integration in the regional manufacturing sector by linking various production hubs across the sub-Saharan Africa region to Sunda's extensive distribution and dealership network in the region.

Financing structure: IFC will provide a long tenor loan, which is not readily available to Brightstar in the local markets. Standard setting: Through the proposed investment, IFC aims: a) to help the Company achieve higher corporate governance standards; and b) to share its E&S expertise with the Company to help develop Brightstar's environmental, health, safety and social practices in line with World Bank Group requirements.

E&S Category Rationale / Risks and Mitigation

This is a category B project according to IFC’s Policy on Environmental and Social Sustainability because the project is expected to generate limited and site-specific E&S impacts that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.

Key E&S risks and impacts for the project include: assessment of the project’s E&S impacts, E&S management systems; management of a large workforce, including contractors, according to national laws and PS2; OHS during construction and operation; efficient use of water and energy; management of process wastes (effluent and solid wastes) and emissions; greenhouse gas (GHG) emissions; impacts on nearby communities including those due to transport infrastructure; and land acquisition and livelihood restoration for the project affected families (PAFs).

Contacts

For Inquiries About the Project, Contact

Twyford (Senegal) Ceramics Co.,Ltd
Armin Zheng
Managing Director
+221771304010
armin@sunda.com
Mermoz meteo, lot 10, Dakar, Senegal
http://www.twyfordtile.com/senegal.html

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Local Access of Project Documentation

Mermoz meteo, lot 10, Dakar, Senegal

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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