Souff. Ethiopia (IFC-40331)

Countries
  • Ethiopia
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
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
Apr 30, 2019
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
SOUFFLET MALT ETHIOPIA PLC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 22.62 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 EUR 20m
Converted using 2019-03-26 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 26, 2019

Disclosed by Bank Mar 12, 2019


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Project Description

The proposed investment consists of a EUR 20 million financing to Soufflet Malting Ethiopia PLC (“Soufflet Ethiopia” or the “Company”), a 100% subsidiary of Soufflet. The project will directly support the Group’s strategy in Africa to build and operate a malting facility in Ethiopia with a total output capacity of 110K tpa (the “Project”).

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Soufflet is a French family-owned agri-food group of international scope with a presence in 19 countries. It operates in the barley, wheat and rice and pulses sectors and advises and provides support for wine growers. The group is the leading family-owned direct buyer of cereals in Europe, and also operates in the international cereal markets through its subsidiary Soufflet Négoce. In the barley sector, it is one of the world’s top malt producers, with a presence in Europe, Asia, and South America. In wheat, it is one of Europe’s leading millers and an expert in developing tailor-made ingredients. The Group also develops and manufactures enzymes and yeasts and is a significant player in the bakery food industry in France and Portugal, and is also active in the fast food sector. The Soufflet Group invests in research and innovation to enhance the value of agricultural resources.

Contact Information

Malteries Soufflet 
Jean-Francois Fevre 
Overseas Countries Manager - Malting 
+ 33 (0) 3 25 39 41 11 
communication@soufflet.com 
Ets J. Soufflet Quai Sarrail - 10402 Nogent sur Seine, France 
https://www.soufflet.com/en

ACCOUNTABILITY MECHANISM OF IFC

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