Summary of Proposed Investment
Project Number
7711
Company Name
Makini School Limited
Date SPI Disclosed
Nov 14, 1996
Country
Kenya
Industry
Health, Education and Life Sciences
Status
Completed
Sector
Elementary and Secondary Schools
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Jan 9, 1997
Signed : May 22, 1997
Invested : Nov 25, 1997
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Project name KENYA: Makini School Limited
Region Sub-Saharan Africa
Sector Education
Project No 7711
Projected Board Date December 15, 1996
Company Name Makini School Limited
Technical Partner and/or Major Shareholders
Dr. and Mrs Okello, an indigenous Kenyan couple own 100% of the company. Dr. Okello is a consulting engineer while Mrs. Okello, an experienced commercial banker, manages the operation.
Project Cost including proposed IFC investment
Project Cost: US$ 3.9 million equivalent
IFC Investment: Up to US$ 0.63 million (loan)
Location of Project and Description of Site
The project’s facilities are located in Langata, a suburb of Nairobi.
Description of Company and Purpose of Project
The Okellos have operated a successful nursery/primary school (with current enrollment of 1,500 students) since 1978. The sponsors have acquired 10 acres of land in an attractive suburb of Nairobi where they intend to construct and operate a primary/secondary school following the local Kenya curriculum.
Project Development Effects
The project will have a strong developmental impact: it could introduce quality primary and secondary education, which is in great demand, at a moderate price; it could encourage other sponsors to replicate the project; and it will create about 60 jobs with the attendant training, improvement in environmental, health and safety standards
Environmental Categories and Issues
This is a Category B project according to AEF’s environmental review procedure. Environmental, health, and safety issues associated with this project include waste disposal/treatment, water and power supply, CFCs, fire protection and emergency response preparedness, and general safety and security. The company has submitted a management plan addressing the issues listed above, this plan is currently under review. An ERS is available.
Date SPI sent to PIC November 14, 1996
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsmile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
