Mezz Tower and Djibouti International Business Centre (MIGA-3550)

  • Djibouti
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
May 30, 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.
Horafia S.A.
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)
$ 23.00 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
Primary Source

Original disclosure @ MIGA website

Updated in EWS Sep 23, 2017

Disclosed by Bank Apr 20, 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.
The project entails designing, building and managing a business and finance center in Djibouti City. The center will include a 17-storey tower hosting high-standing offices destined for corporations of different sizes. Ancillary services, such as maintenance, security and access control, reception, ICT services, cleaning, waste removal, logistics support, parking lot management, and utilities will also be provided. Horafia S.A has applied for MIGA guarantees covering up to $23 million of equity and shareholder loan investments into the project. The guarantees will have a term of up to 15 years, providing coverage against the risks of Transfer Restriction and Inconvertibility, Expropriation, and War and Civil Disturbance. This proposed project aims to fill the gap in the local offering for office facilities and services of international standard. In doing so, the project will facilitate the establishment of new businesses in Djibouti and increase its attractiveness for foreign investors. If successful, the project will help consolidate Djibouti's role as a regional hub not only for port logistics, but also for attracting and hosting new services companies. The project is expected to have additional positive impacts on the Djibouti's economy by creating direct and indirect jobs during construction and operation, and by supporting new businesses for the benefit of the local community. The proposed project is aligned with MIGA's priorities of facilitating investments into conflict-affected countries.
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 You can learn more about the CAO and how to file a complaint at

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