JJ TRANSPORTES LIMITADA
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
J&J Transportes ltd, a logistics company located in the port city of Beira in Mozambique. FMO has invested USD 11,5mln in 2013. In addition, FMO is in the process of supporting J&J with CD funding (EUR 40,000) for the development of training curriculum for its local staff (contract to be signed this month
What is our funding objective?
On March 15th, 2019 tropical cyclone Idai struck Mozambique and several other countries in Africa causing widespread flooding and destruction across the southeast corner of the continent. Cyclone Idai was a Category 3 tropical cyclone which has destroyed over 90% of Beira’s facilities, including homes, hospitals and schools. In the wider region, 1,7 million people were affected by the cyclone. There is an ongoing lack of clean water, food and shelter, worsened by outbreaks of cholera and malaria, not in the least caused by additional heavy rains from cyclone Kenneth.
Why do we fund this investment?
FMO aims to be the preferred partner for local prosperity. FMO generally does not provide 100% grants but looking at the magnitude of the disasters, FMO’s MB felt it is suitable to support the recovery of the local communities via our clients.
- Country
- Global
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 10/15/2019
- End date
- 4/28/2020
- Total FMO financing
- EUR 0.05 MLN
- Funding
- FMO NV