Mbiza Blueberries (IFC-40468)

Countries
  • South Africa
Where the impacts of the investment may be experienced.
Specific Location
Western Cape, Gauteng and Limpopo provinces
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
Jul 6, 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
MBIZA TRADING LTD
The holder of the loan, grant, or other investment.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 35.34 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 30
Converted using 2018-06-06 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 11, 2018

Disclosed by Bank Jun 5, 2018


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Project Description

The proposed investment consists of an IFC investment package of €30 million ($36 million equivalent) loan to Mbiza Trading to support its expansion of blueberry farms and related infrastructure in the Republic of South Africa.

 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Mbiza is a wholly-owned subsidiary of United Exports, an Australian horticulture trading company founded in 2002 by Mr. Roger Horak.    

Mbiza is a Mauritian trading and holding company that focuses on the production and marketing of blueberries under its proprietary “OZblu” brand. Established in 2010, Mbiza has quickly expanded to currently manage its own farm (either wholly or partially owned) in South Africa and Zambia while sourcing from out growers.

Contact Information

United Exports South Africa 
Jon Salters 
CEO 
+27 (21) 879 2301 
jon@unitedexports.com.au 
2nd Floor, James Barry Munnik House, 121 Main Road, Paarl, South Africa 7646 
http://www.united-exports.com 

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