The Company was established by the Guinean Ly family in the early 1980s and currently employs 337 individuals. The ownership of the company is equally divided between Mr. Kadialiou Ly and Mr. Elhadji Thierno Ly, each holding a 50 percent share.

The total project cost is €15 million comprising of (i) an IFC A-Loan of up to €4.6 million; and (ii) a concessional loan of up to €4.6 million subordinated to the A Loan from IFC, acting in its capacity as the implementing entity of IDA PSW BFF.                                                               

Menema's current location is in Manéah, 50 kilometers west of the capital, Conakry. The new expansion site is in Kassognah, 40 kilometers west of Conakry.         

  N/A                                                                                                    

 This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability. IFC’s review concluded that the E&S risks and impacts associated with this project are limited, site-specific, and can be readily avoided or mitigated through generally accepted mitigation measures described in this document and aligned with and in the Environmental and Social Action plan (ESAP).

The key E&S risks and issues for this investment are: (i) implementation effectiveness of Menema’s E&S management System (ESMS) for its manufacturing operations, (ii) fair, safe and healthy working conditions for permanent employees and casual and contract workers, including implementation of HR policies and procedures aligned with PS2 requirements; (iii) life and fire safety (LFS) and emergency preparedness; (iv) resource efficiency and GHG emissions; management of air emissions, noise, solid/hazardous waste, and effluent; (v) community safety risks, including traffic, and use of security forces; (vi) community grievance mechanism ; and (vii) biodiversity risks at the proposed mattress production unit.