Summary of Proposed Investment
Project Number
7877
Company Name
Intermarket Discount House (Zambia) Limited
Date SPI Disclosed
Nov 18, 1996
Country
Zambia
Industry
Financial Markets
Status
Completed
Sector
Other Non-Depository Credit
Department
Regional Industry - FIG Africa
Environmental Category
C - No Impact
Previous Events
Approved : Feb 26, 1997
Signed : May 28, 1997
Invested : Jul 9, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Zambia - Intermarket Discount House Zambia Limited (IMDHZ) |
RegionSub-Saharan Africa
Sector
Project No007877
Projected Board DateDecember 31, 1996
Company NameIntermarket Discount House Zambia Limited
Technical Partner and/or Major Shareholders
Intermarket Discount House of Zimbabwe.
Project Cost Including proposed IFC investment
US$2.5 million, including a $500,000 IFC equity investment
Location of project and Description of site
Lusaka, Zambia
Description of Company and Purpose of Project
IMDHZ is the only discount house in Zambia whose main business is to intermediate between financial institutions and trading or making markets in various money market instruments. It is proposed that IFC acquire up to 20% stake (or US$500,000) equivalent) in IMDHZ. IFC’s participation in this project further develops Zambia’s money markets and provides an additional credibility for the regional expansion effort of a successful local institution.
Environmental Category and Issues
This is a Category C project according to IFC’s environmental procedures.
| Date SPI sent to PIC | November 18, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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