SMTP Madagascar (IFC-36704)

  • Madagascar
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
Feb 29, 2016
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.
Société Malgache de Transformation des Plastiques SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 3.00 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)
$ 6.80 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 @ IFC website

Updated in EWS Aug 22, 2017

Disclosed by Bank Sep 11, 2015

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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.
This project finances the poultry expansion project of Société Malgache de Transformation des Plastiques which includes support to its agribusiness subsidiaries involving three components: i) capital expenditures for the expansion of Agrifarm’s Day Old Chicks production capacity; ii) permanent working capital to increase Agrival’s animal feed production; and iii) capital expenditures for a green field slaughterhouse for Mabel.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Société Malgache de Transformation des Plastiques (STMP) group is a conglomerate in Madagascar, with activities in agribusiness (including industrial bakery), plastics, packaging, woven polypropylene, construction and civil works, automobile dealership, real estate (residential and commercial). SMTP Group Madagascar is a conglomerate of 20 companies and 1,200 employees and annual revenues of around US$33.5 million. In the agribusiness sector, the it owns three key subsidiaries, Agrival (animal feed), Agrifarm (day old chicks for poultry/ broilers) and Mabel (slaughterhouse). SMTP group is majority owned by Mr. Danilhoussen Ismael and a Malagasy national. Mr. Ismael started SMTP in 1987, and progressively grew the business into one of the largest conglomerate in the country.

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.
Name/Address: Mr. Danilhoussen Ismael, Executive President Groupe SMTP. Lot 01 A Ambohibao Antananarivo Madagascar Tel : +261 32 07 845 80; E-mail : Web site : ACCOUNTABILITY MECHANISM OF IFC 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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