Westfalia Intl. (IFC-40091)

Countries
  • South Africa
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
Proposed
Bank Risk Rating
U
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.
Borrower
WESTFALIA FRUIT INTERNATIONAL LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 35.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 29, 2017

Disclosed by Bank Nov 10, 2017


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Project Description
IFC will provide a five-year loan of up to US$ 35 million to Westfalia Fruit International Limited (“WFIL”), a wholly owned subsidiary of South Africa-based Hans Merensky Holdings (Pty) Limited. Hans Merensky Holding and its subsidiaries are World leaders in avocado growing and importing to target markets like Europe and North America. The loan will be used to strengthen WFIL’s supply chain network in the Latin America region. The project is expected to transfer fruit farming, ripening, storage, distributing knowledge and skills to farmers in Chile, Mexico and Colombia. IFC investment will support acquisition of a local fruit exporting company in Chile and development of a Nursery in Colombia.The IFC investment will allow this leading South African fruit exporter to strengthen its position as a leading international supplier of avocados, and enhance its capacity to supply avocados year-round.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Contact Person: Chantelle Grobler Company Name: Westfalia Fruit International Address: St. John's House, 37/41 Spital Street, Dartford, Kent, DA1 2DR, United Kingdom Email: cg@westfaliafruit.com Phone: 44 ( 0) 1322 425573 Facsimile: 44 ( 0) 1322 425500 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/