CGLOB2 - Dufil Prima Foods Plc (DFC-2019-CGLOB2DUFIL)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Dufil Prima Foods Plc
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 37.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 37.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 27, 2020


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Project Description

This Project is expected to have a positive developmental impact in Nigeria by supporting the expansion of a food manufacturer and processor. Nigeria is a net food importer with food imports estimated at more than $9 million per day. The Project will create more than 400 local jobs in a country facing high unemployment, which was estimated to be 23 percent in 2018. The Borrower makes manufactured foods that are available throughout Nigeria through a strong distribution network which includes 1,000 exclusive distributors, 10,000 subdistributors and more than 500,000 retailers, along with a 1,000 fleet of trucks to manage the inbound and outbound logistics.

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure