MALAWI MANGOES MAURITIUS LTD (FMO-32056)

Countries
  • Malawi
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
B
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.
Voting Date
Jun 26, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Malawi Mangoes (Mauritius) Ltd.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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, etc.
Investment Amount (USD)
$ 2.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jan 21, 2019


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Project Description

Malawi Mangoes sources bananas and mangoes from a blended supply chain comprising its own anchor famers and a significant smallholder program. The company processes this fruit into puree in a facility situated in Malawi and exports the resulting product to regional and international fruit drink manufacturers.

According to bank documents, FMO, IFC, a member of the World Bank Group, and the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP) will each invest US$5 mln in Malawi Mangoes. The organization plans to scale up operations and exports, creating more rural jobs and increasing opportunities for farmers to supply fruit to the company through its smallholder outreach and development programs. The total US$15 million financing package will fund capital investment plans, including an expanded nursery, a new 1,200 hectare plantation, installation of climate-smart drip irrigation technology across the new farm and nursery, expanded ripening chamber capacity and a second processing line at the processing facility.

The company plans to increase the number of employees fourfold over the next four years to about 2,600 full-time staff. During this time, it also plans to increase the number of farmers who supply fruit to the company to approximately 6,000.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
Contact Information

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism