HPW Fresh & Dry Ltd.
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. 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 prospective customer?
HPW is the largest tropical dried fruits (e.g. mango, pineapple, coconut) and snacks processor in West Africa. Founded in 1997 in Switzerland, the company gradually evolved from a fresh fruit trader to a vertically integrated dried fruits and snack manufacturer. The Company has 2 local subsidiaries in Ghana and Ivory Coast, together employing ~2,000 employees and directly impacting ~600 small and medium farmers annually.
What is our funding objective?
FMO’s additional loan to HPW Fresh & Dry Ltd will finance the refurbishment and expansion of the fruit drying capacity in the Ghana factory to meet the increasing demand for dried fruits and healthy snacks.
Why do we want to fund this investment?
HPW is the quintessence of what FMO tries to support in West Africa: an impact-driven profitable company that creates long-lasting effects on the fruit supply chain and job market in Ghana and Ivory Coast – strengthening market access and agronomic techniques for smallholder farmers and farmer organizations while continuously empowering 2,000 local employees via capacity building. The new transaction will create c. 200 jobs in Ghana while contributing to the reduction of food waste, as fresh fruits that are unnecessarily wasted or discarded (because of undesirable appearance) are transformed into dried fruits and snacks. The transaction qualifies as 100% Reducing Inequalities (given the technical support provided to smallholders) and 100% Green (HPW has a sustainable and circular business model).
What is the Environmental and Social categorization rationale?
E&S categorization is B+, FMO’s environmental and social due diligence indicates that the investment will have impact which must be managed in a manner consistent with the following Performance Standards: PS 1 – Assessment and Management of Environmental and Social Risks and Impacts; PS 2 – Labour and working conditions; PS 3 – Resource Efficiency and Pollution Prevention; and PS 4 – Community Health, Safety and Security. Additionally, IFC Performance Standards 2 and 6 are indirectly triggered through the Company’s supply chain.
More investments
| Date | Total FMO financing |
|---|---|
| 10/31/2023 | EUR 0.32 MLN |
| 5/22/2023 | EUR 2.00 MLN |
| 7/6/2022 | EUR 4.00 MLN |
- Region
- Africa
- Country
- Ghana
- Sector
- Agribusiness, Food & Water
- Publication date
- 1/13/2025
- Deadline for feedback
- 3/14/2025
- Total FMO financing
- EUR 5.00 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+