The Company was founded in Uganda by Mr. Kotecha and Mr. Kapoor, long-experienced businessmen in the region. In 2019, TPG Rise Fund, an impact Private Equity fund managed by global asset manager TPG, became a shareholder alongside the founders.

IFC, together with FMO, will provide a US$ 35 million long-term loan package to support the project. The project is expected to be supported by GAFSP, as described in the Blended Finance Section.

 The Company’s operations are located in Western Uganda and Western Kenya.

 The Company’s governance was assessed at adequate

 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, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIPs). Key E&S risks and issues for this investment are: (i) Pearl Dairy’s capacity to implement its E&S and Supply Chain management systems across all its direct and raw milk sourcing operations; (ii) availability of technical capacity/competency of Pearl Dairy’s EHS, HR and Supply Chain functions; (iii) adequacy of HR/ Occupational Health and Safety (OHS) management systems for assurance of fair and safe working conditions for direct/seasonal workers and contractors, including Gender-based Violence (GBV) risks; (iv) food safety management system, (v) water/energy resource efficiency and pollution prevention; (vi) emergency preparedness and response, (vii) traffic safety and use of security forces, (viii) community grievance mechanism.