GTST Sahara (IFC-40141)

  • 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
Bank Risk Rating
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
Feb 28, 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.
The holder of the loan, grant, or other investment.
  • Finance
  • 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, etc.
Investment Amount (USD)
$ 100.00 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)
$ 300.00 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 13, 2018

Disclosed by Bank Jan 22, 2018

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Project Description

The project consists of an investment of up to US$100 million by IFC to be part of a revolving uncommitted trade finance facility of US$300 million, arranged by Société Générale, Paris for Sahara Energy Resources Limited (“SERIOM”) and Sahara DMCC (“DMCC”), both subsidiaries of Sahara Group.

Investment Description
  • International Finance Corporation (IFC)

The total amount of the Facility is estimated at US$300 million, with a proposed IFC investment of up to US$100 million through an unfunded guarantee to be issued by IFC in favor of Société Générale.

Private Actors

About Société Générale Société Générale is amongst the 20 largest banks worldwide, and the second largest in France by market capitalization. It operates across three core business units: (i) French retail banking, which consists of three complementary brands: Société Générale, a leading national bank; Credit du Nord, a group of regional banks; and Boursorama, France’s leading online bank; (ii) international retail banking and financial services, and; (iii) global banking and investor solutions. About Sahara Sahara is a privately owned power, energy, gas and infrastructure conglomerate established in 1996 with operating companies active in the downstream, midstream, upstream, infrastructure and power sectors. The group has over 20 operating subsidiaries mainly across West Africa. SERIOM, a company incorporated in the Isle of Man, is primarily focused on the sourcing, supply and trading of refined petroleum products. It operates as a wholly owned subsidiary of Sahara. DMCC, a company incorporated in the United Arab Emirates, is focused on business development in the East Africa region.

Contact Information

Société Générale Cecile Briand / Hugo Letreguilly Director - Energy +33142135433 / +33157296999 / 92987 Paris La Défense cedex 7, Paris (France) Company: SERIOM and DMCC Point of Contact: Mr Ade Odunsi Title: Director Telephone Number: +41 (0)22 716 51 31 Email: Mailing Address: 13-15 Cours de Rive 1204 1201, Geneva (Switzerland) Website:


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