The Companies are both fully owned by TALYS SAU (the “Group”), a family-owned business based in Madagascar. The Group is fully owned by Mr. Féride Hassanaly and Mr. Eric Hassanaly.  

The IFC financing package is in the form of an A Loan of up to EUR9 million.                                 

All the Project sites will be located in the country of Madagascar. The Project sites for SANIFER Ivato, KIBO Ivato, and SANIFER Bypass will be in Antananarivo while the Project site for SANIFER Nosy Be and KIBO Nosy Be will be in the island of Nosy Be.

 This is a Category B project as per the IFC's Policy on Environment and Social Sustainability (2012). The proposed project will have limited adverse E&S impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures.  

Key E&S risks and impacts associated with this Category B project include: The Borrowers E&S capacity and management systems to assess and manage the environmental, social, health and safety aspects of Borrowers operations (stores, warehouses and expansion to new locations) in compliance with legal requirements and the IFC Performance Standards (“IFC PSs”); E&S screening criteria and assessment procedures for new stores; assurance of fair, safe and healthy working conditions for its workforce, including management of an internal grievance mechanism and risks related to gender-based violence and sexual harassment, and supply chain management; resource efficiency, water and waste management, including management of goods subject to recalls, and expired foodstuff and goods; life and fire safety (“LFS”), structural stability of facilities and emergency response management for all stores as per IFC requirements that relate to (but not limited to) food safety management, and traffic and security management;  stakeholder engagement and external grievance mechanisms.