PROJECT

Projects

Summary of Investment Information

Project Number

47118

Company Name

Abyssinia Group of Industries

Date SPI Disclosed

Oct 28, 2024

Country

Eastern Africa Region

Region

Africa

Projected Board Date

Feb 12, 2025

Environmental Category

B - Limited

Status

Active

Last Updated Date

Apr 12, 2026

Department

Regional Industry - MAS Africa

Industry

Manufacturing

Previous Events

Approved : Feb 12, 2025
Signed : Mar 5, 2025
Invested : Apr 8, 2026

Sector

Iron and Steel

Project Description

  The Project entails a proposed IFC A Loan investment of up to USD20 million in Abyssinia Group of Industries (“Abyssinia” or the “Group”), a leading steel producer in Ethiopia, Kenya, and Uganda, which will support the capacity expansion, backward integration, decarbonization efforts, and working capital needs of Abyssinia. It also entails IFC mobilizing local currency parallel loans to strengthen the Group’s financial position with longer tenors (“the Project”).

 

Associated Advisory Engagement

       

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation