Societe Camerounaise de Purification de Sel SA
Status: Approved 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
SOCAPURSEL S.A is the leading producer of refined salt in Cameroon. Socapursel imports raw salt into Cameroon and processes it into refined salt that is sold in the country and in the wider region. Over half of refined salt is used for livestock production.
What is our funding objective?
This is a Technical Assistance project in which FMO is contributing to the cost of contracting an E&S consultancy that will support and advise Societe Camerounaise de Purification de Sel S.A. (Socapursel) in the implementation of the ESAP agreed with FMO which includes the design and implementation of an Environmental and Social (E&S) Management System, and to build the required E&S knowledge and capacity of the E&S personnel at Socapursel.
Why do we fund this investment?
Through its loan signed earlier in 2023, FMO aims to support the company not only financially, but also in their journey to strengthen their Environmental and Social Management System. This was an explicit request by the company when deciding to partner with FMO and is a part of FMO's value add which will solidify this partnership. This is where this Technical Assistance project comes in. In addition, the E&S consultancy is expected to assist the company in the implementation of its E&S action plan which was agreed with FMO.
More investments
| Date | Total FMO financing |
|---|---|
| 8/17/2023 | EUR 10.00 MLN |
- Region
- Africa
- Country
- Cameroon
- Sector
- Agribusiness, Food & Water
- Publication date
- 2/1/2024
- Effective date
- 11/23/2023
- Total FMO financing
- EUR 0.03 MLN
- Funding
- FMO NV
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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+