Prothem (IFC-40902)

Countries
  • Burundi
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
May 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
PROTHEM USINE S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
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)
$ 2.00 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 Jan 25, 2019

Disclosed by Bank Apr 6, 2018


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Project Description

IFC is considering to provide an A Loan of up to US$2.0 million to Prothem Usine S.A. (“Prothem” or the “Company”) to part-finance the capacity expansion program (the “Project”) which includes installation of a new processing line and a boiler at the factory, construction of hanger for tea collection, purchase of motor vehicles, development of own tea estate and investment associated to obtain Rainforest Alliance Certificate.

 
Investment Description
  • International Finance Corporation (IFC)
Private Actors

Founded in 2006, Prothem is the first privately-owned tea company in Burundi, operating tea processing factory in Gisozi Commune of Mwaro Province. The factory currently has a capacity to process 6 million kilogram (kg) of green leaf annually supplied by c.11,000 smallholder farmers into made tea for export sales. Prothem is primarily owned by Ms. Aline Kaparaye; DOB Equity - an impact fund from Netherlands; ICCO Foundation - an international nonprofit organization from the Netherlands; Prothem ASBL, a non-profit farmers organization, Other independent farmers and businessmen from Burundi.

Contact Information

Prothem Usine S.A.
Samuel Karima
Managing Director
+ 257 72364471, +257 22220780, + 257 22278667
samuel.karima@prothem.bi
Prothem Usine s.a., Gisozi Tea, B.P. 176 Bujumbura – Burundi
www.prothem.bi

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/