Global Tea (IFC-38327)

Countries
  • Kenya
  • Malawi
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ngapani, Chilape, and Mapanga in Malawi, and Mombasa in Kenya
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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, 2018
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.
Borrower
Global Tea & Commodities Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 9.55 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.
Currency conversion note:
Bank reported 8
Converted using 2018-05-14 exchange rate.
Project Cost (USD)
$ 9.55 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.
Currency conversion note:
Bank reported 8
Converted using 2018-05-14 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 14, 2019

Disclosed by Bank May 14, 2018

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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 proposed investment will support the Group’s capacity expansion in Malawi and Kenya. Global Tea’s macadamia and coffee plantations are located in Ngapani, Chilape, and Mapanga in Malawi, and tea packing facilities are in Mombasa, Kenya. The Group plans to plant additional 600 hectares of macadamia across Ngapani and Mapanga plantations, and replant 300 hectares of the existing 600 hectares coffee across Ngapani, Chipale and Mapanga plantations in Malawi.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment is up to US$8 million senior secured loan, comprised of up to US$4 million each from IFC and the Global Agriculture and Food Security Program (“GAFSP”), to Global Tea & Commodities Ltd. and five of its subsidiaries: namely, Global Tea & Commodities (Kenya) Ltd., Gold Crown Foods (EPZ) Limited, Gold Crown Beverages (Kenya) Ltd., Global Tea & Commodities (Malawi) Ltd., and Sable Farming Company Ltd. (together “Global Tea” or the “Group”).

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Global Tea is an agribusiness group with macadamia and coffee plantations in Malawi, as well as tea sourcing business and tea packing facilities in Kenya. Global Tea is majority (86%) owned by the founder Mr. Nadeem Ahmed and his family who started the Group in the United Kingdom in 1992.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Global Tea & Commodities Ltd. Parent Company -

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.

Global Tea & Commodities Ltd. 
Mr. Michael McBrien 
Group Finance Director 
+44 207 500 7610 
sales@globaltea.com 
Global Tea & Commodities Ltd., First Floor, 78 Whitefield Street, London W1T 4EY, United Kingdom 
http://www.globaltea.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/

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How it works