PROJECT

Projects

Summary of Investment Information

Project Number

49377

Company Name

ILLOVO SUGAR (MALAWI) PLC

Date SPI Disclosed

Nov 6, 2025

Country

Malawi

Region

Africa

Projected Board Date

Apr 16, 2025

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jan 30, 2026

Department

Regional Industry - MAS Africa

Industry

Agribusiness and Forestry

Previous Events

Approved : Apr 16, 2025
Signed : Sep 18, 2025
Invested : Jan 22, 2026

Sector

Sugarcane and Beets

Additional Project Attributes

Blended Finance

Project Description

The proposed investment is a local currency-linked senior/unsecured loan facility of up to US$81 million (approximately MWK 140.5 billion equivalent) to Illovo Sugar (Malawi) plc (ISM or the Company). The loan has an 8-year term with a c.1.5-year grace period.

The loan is supported by the International Development Association Private Sector Window (IDA PSW) in the form of local currency hedging and will benefit from a corporate guarantee from the Company's ultimate parent Associated British Foods plc (the Guarantor or ABF) over the life of the loan.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation