Nyumba Ya Akiba S.A. (MIGA-3546)

  • Congo, Democratic Republic of
Geographic location 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
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."
Voting Date
Jun 15, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Lucky Cement Limited, Pakistan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 59.40 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.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 18, 2017

Disclosed by Bank Apr 6, 2017

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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.
Lucky Cement Limited of Pakistan has applied for a MIGA guarantee of up to US$59.4 million for an equity investment into the Nyumba Ya Akiba S.A. project in the Democratic Republic of Congo. The guarantee, available for up to 10 years, provides coverage against the risks of expropriation and transfer restriction. The project involves the construction and operation of a greenfield cement manufacturing plant with a production capacity of 1.2 million tons per annum (tpa) in the Bas Congo province of the DRC. It will be the largest producer of cement in the country. The project includes the development of an opencast limestone quarry providing raw material, overburden storage facilities, ground cement storage silos, waste management facilities, access and roads, and employee accommodations. The project is expected to increase the supply of domestically produced, competitively priced, cement for the local market and reduce dependence on imports. The reduction in cement prices should support housing and infrastructure in the DRC. The project is expected to create 320 sustainable jobs for its operations, and has employed up to 1,250 during the construction phase. The technical sponsor is also expected to provide training to local project employees. A project of this scale in the DRC offers important demonstration effects for investors considering investment into the DRC at this challenging time. This project is aligned with MIGA's priorities of facilitating investments into fragile and conflict affected situations along with countries eligible for financing from the International Development Association. The project is also a South-South investment.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
ACCOUNTABILITY MECHANISM OF MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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