Silverlands Vineyards (Pty) Ltd. (MIGA-3510)

Countries
  • Namibia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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.
Borrower
Overseas Private Investment Corporation (OPIC)
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 Amount (USD)
$ 19.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 23, 2017

Disclosed by Bank Aug 31, 2016


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Project Description
This summary covers MIGA's proposed reinsurance of the Overseas Private Investment Corporation's (OPIC) proposed coverage to SilverStreet Private Equity Strategies Soparfi S.à r.l., an agricultural fund focused on investing in sub-Saharan Africa. The investor has applied for reinsurance for its investment in SilverStreet's in Silverlands Vineyards (Pty) Ltd. (SVL). OPIC has requested reinsurance of up to $19.7 million for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance. SVL was established in April 2015, to acquire, develop and manage 198 hectares of existing table grape vineyards at Riverside farm (formerly Nivex) and Lakeside farm (formerly Nagrapex) and up to an additional 177 ha of development land at Hillside farm (formerly Golf), which together comprise the SVL Project. The SVL Project is located in Aussenkehr, Namibia, on the Orange River along the Namibian-South African border, approximately 645 km to the South East of Windhoek. The table grapes are designated for the export market. The existing vineyards include equipment and infrastructure, management housing, good access and connection to the national electricity grid (as well as supported by a small solar power project dedicated to the Project), while the development land comes with adequate water rights to expand the total area of vineyards to approximately 375 hectares over time. The project's main development objective is to support agricultural development by expanding land resources under cultivation and increasing yields. The project is expected to benefit the local economy through job creation and opportunities for increased participation of local actors in the supply chain. The project will also improve farming technologies and contribute to skills development.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information
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