Global Tea (IFC-38327)

Countries
  • Kenya
  • Malawi
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
Bank Risk Rating
B
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
Jun 15, 2018
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
Global Tea & Commodities Ltd.
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 9.55 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 8
Converted using 2018-05-14 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 14, 2019

Disclosed by Bank May 14, 2018


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Project 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
  • International Finance Corporation (IFC)

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

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.

Contact Information

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/