STANLIB Fahari I-REIT (IFC-36844)

Countries
  • Kenya
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
Active
Bank Risk Rating
FI
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
Oct 12, 2015
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
STANLIB Kenya Limited
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 125.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 25, 2018

Disclosed by Bank Oct 26, 2015


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Project Description

This project finances an investment in STANLIB Fahari Property Income Fund Income Real Estate Investment Trust which will own and manage existing, income-generating real estate properties, in order to help fund Kenya’s real estate gaps.

Investment Description
  • International Finance Corporation (IFC)

The STANLIB Fahari Property Income Fund Income Real Estate Investment Trust Kenya (I-REIT) will be listed on the Nairobi Securities Exchange. STANLIB Kenya Limited has been fully operational since 1998 and currently has over US$1.4 billion-equivalent assets under management from pension funds, insurance companies and retail investors. STANLIB Kenya Limited is licensed by the Capital Markets Authority in Kenya, Tanzania and Uganda as well as registered with the Retirement Benefits Authority in Kenya to provide investment advisory and Fund Management Services. STANLIB Kenya Limited is 100% owned by Liberty Holdings Limited (South Africa), a leading asset manager in Africa which administers over $55 billion (as at 31 December 2014) of assets for over 400 000 retail and institutional clients and has a presence in ten African countries. STANLIB SA is a subsidiary of Liberty Holdings Limited (South Africa)

Private Actors
  • STANLIB Kenya Limited -- Financial Intermediary

STANLIB Kenya Limited (“STANLIB Kenya”) has been fully operational since 1998 and currently has over US$1.4 billion-equivalent assets under management from pension funds, insurance companies and retail investors. STANLIB Kenya is licensed by the Capital Markets Authority in Kenya, Tanzania and Uganda as well as registered with the Retirement Benefits Authority in Kenya to provide investment advisory and Fund Management Services

STANLIB Kenya Limited is 100% owned by Liberty Holdings Limited (South Africa), a leading asset manager in Africa which administers over $55 billion (as at 31 December 2014) of assets for over 400 000 retail and institutional clients and has a presence in ten African countries. STANLIB SA is a subsidiary of Liberty Holdings Limited (South Africa)

Contact Information

Anton Borkum
CEO STANLIB Fahari REIT
Liberty House, Nyerere Road
P.O. Box 30550 – 0100, Nairobi, Kenya
Mobile: +254 – 713 780 833
E-mail: mailto:anton.borkum@stanlib.com

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 CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/