MALAWI MANGOES MAURITIUS LTD
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Malawi Mangoes sources bananas and mangoes from a blended supply chain comprising its own anchor famers and a significant smallholder program. The company processes this fruit into puree in a facility situated in Malawi and exports the resulting product to regional and international fruit drink manufacturers.
What is our funding objective?
FMO, IFC, a member of the World Bank Group, and the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP) will each invest US$5 mln in Malawi Mangoes. The organization plans to scale up operations and exports, creating more rural jobs and increasing opportunities for farmers to supply fruit to the company through its smallholder outreach and development programs. The total US$15 million financing package will fund capital investment plans, including an expanded nursery, a new 1,200 hectare plantation, installation of climate-smart drip irrigation technology across the new farm and nursery, expanded ripening chamber capacity and a second processing line at the processing facility.
Why do we fund this investment?
The company plans to increase the number of employees fourfold over the next four years to about 2,600 full-time staff. During this time, it also plans to increase the number of farmers who supply fruit to the company to approximately 6,000. With this investment Malawi Mangoes can start benefiting from economies of scale and at the same time empower local people, thus having a tremendous positive impact on the local development in the Salami District of Malawi.
More investments
| Date | Total FMO financing |
|---|---|
| 8/27/2019 | USD 2.50 MLN |
- Region
- Africa
- Country
- Malawi
- Sector
- Agribusiness, Food & Water
- Effective date
- 6/26/2014
- End date
- 8/27/2019
- Total FMO financing
- USD 2.50 MLN
- Funding
- Fund Emerging Markets
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+