Early Warning System

Countries

Senegal

Geographic location 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

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Borrower

QuantumID Technologies Inc.; QuantumID Technologies SASU

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Industry and Trade

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 5.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 10.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Project Disclosure [Original Source]

Primary Source

Original disclosure @ DFC website

Updated in EWS Mar 19, 2025

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the Project involves the development, operation, and localization of QID Senegal’s proprietary, innovative, state-of-the-art tracking and management technology systems and services (trademarked “SmartKargo”) for managing cargo, packages, and other moveable assets of small-to-medium-sized commercial airlines and other transport facilities, and delivering these items within Senegal and other countries in the Sub-Saharan Africa region.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Investments in e-commerce companies are screened as Category B under DFC’s ESPP because impacts are generally site-specific, largely reversible, and readily addressed through mitigation measures.

Risks relevant to the Project include discrimination in employment, particularly on the basis of gender, as well as violations of wage and overtime laws. The Project has also been screened for gender-based violence and harassment (GBVH) risks, and the contextual GBVH risk level in Senegal is 2.5 out of 4.

The Project involves providing office-based cargo tracking and support services and does not involve land acquisition, construction, or renovation. The Project will lease existing office space in Dakar, and main Project locations are in urban/industrialized areas.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

US International Development Finance Corporation (DFC)

$5,000,000, Senior Direct Loan to the Project Company, QID Senegal. Term is 9.5 years.

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

QuantumID Technologies SASU is also known as "QID Senegal". The company develops and localizes tracking and management systems and services for cargo, packages and other goods, which are commercially branded as "SmartKargo".

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	QuantumID Technologies Inc.	Client	-
-	-	-	-	QuantumID Technologies SASU	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

Unlike many other development finance institutions, DFC does not currently have an access to information policy.

Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia

ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)

The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.

You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability