FERONIA INC
Status: Completed investmentWhy disclosure?
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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
Feronia is a Toronto Venture Stock Exchange listed agribusiness and at the heart of Feronia lies a long established palm oil business, Plantations et Huileries du Congo S.A (“PHC”). This company operates in the Democratic Republic of the Congo (the “DRC”) in three remotely located plantations; Lokutu, Yaligimba and Boteka, close to the river Congo. PHC produces mainly crude palm oil and palm kernel oil, which is all sold domestically in the DRC.
What is our funding objective?
The objective of this funding is to improve community livelihoods opportunities, expand grievance management systems and facilitate the resolution of legacy land issues, so that Feronia can improve its community engagement and operations.
Why do we fund this investment?
The project is relevant to FMO’s AFW strategy and its sustainability ambitions because it is a key opportunity to set in place a new sustainability strategy that can become a model for many other agribusiness enterprises across the region. It is also closely aligned with the IDF (Building Prospects) strategy due to its focus on improving livelihoods at the Base of the Pyramid in Sub Saharan Africa.
- Region
- Africa
- Country
- Africa
- Sector
- Agribusiness, Food & Water
- Effective date
- 5/27/2019
- End date
- 12/16/2021
- Total FMO financing
- EUR 0.25 MLN
- Funding
- Building Prospects