The Company is a family-owned business. It is owned by the wife of the late founder, Mrs. Sheila B. Khubchandani (30%) and their daughters, Mrs. Rani M. Melwani (25%) and Mrs. Sonya R. Sadhwani (25%). The balance shareholding is held by the founders’ sons-in-law, Mr. Mahesh A. Melwani (10%) and Mr. Ramesh M. Sadhwani (10%), who together established Melcom with the founder over 30 years ago.                                                  

The total project cost is US$61 million equivalent in Ghanaian cedi, comprising of (i) up to US$30.0 million “A” loan; (ii) up to US$20.0 million in “B”/“Parallel” loans and (iii) US$11.0 million funded through internal cash within the Company. The Project is expected to be supported by the IDA20 Private Sector Window Local Currency Facility (“IDA PSW LCF”) as described in the Blended Finance Section.     

 The proceeds will be utilized for Melcom Limited in Ghana.   

 This is a Category B project according to IFC's 2012 Policy on Environment and Social (E&S) Sustainability. The proposed project will have limited adverse E&S impacts that are few, site specific, and readily addressed through good international industry practices (GIIP), including those reflected in the E&S Action Plan (ESAP) attached to this document. Key E&S risks and issues for this investment are (a) the company’s E&S capacity and systems to manage operations (stores, warehouses and fleet) after expansion in compliance with IFC PSs; (b) assurance of fair, safe and healthy working conditions for employees and third party workers especially on gender related risks; (c) life and fire safety (LFS) management for all stores in line with an internationally recognized LFS code; (d) management of emissions, solid wastes and wastewater and resource efficiency; (e) compliance with IFC PSs in the supply chain; (f) traffic and security related impacts; and (g) community grievance mechanism.