ZANZIBAR SUGAR FACTORY LIMITED
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
Zanzibar Sugar Factory Ltd (ZSL) is a sugarcane growing and sugar manufacturing company located in Zanzibar. It is the only manufacturer of sugar on the island. ZSL grows cane on its farm of approx. 3,400 acres as well as supports an out-grower program where more than 600 contracted farmers grow cane for the factory. ZSL produced more than 6,000 MT brown sugar during the 2019 crushing period.
What is our funding objective?
The funding objective is to support ZSL with the donation of extra neutral alcohol (ENA) to the Government of Zanzibar to ensure the production of sanitizers for the local community. Since COVID-19 was announced in Zanzibar and Mainland Tanzania, sanitizers and other hygiene products have been in short supply.
Why do we fund this investment?
ZSL is creating a by-product, which can be sold locally at a good value. It does not only bring much needed additional revenue for ZSL, but support employment creation on the island. Providing ENA to the local population on Zanzibar will ensure that the communities have a guaranteed supply of hygiene products throughout the year.
More investments
| Date | Total FMO financing |
|---|---|
| 12/18/2018 | EUR 0.13 MLN |
| 12/16/2015 | USD 11.50 MLN |
- Region
- Africa
- Country
- Tanzania, United Republic of
- Sector
- Agribusiness, Food & Water
- Effective date
- 8/21/2020
- End date
- 8/24/2022
- Total FMO financing
- EUR 0.09 MLN
- Funding
- Building Prospects
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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+