FCS RE MALI SHI (IFC-41588)

Countries
  • Mali
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 21, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MALI SHI-SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 1.42 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 1.25
Converted using 2019-06-29 exchange rate.
Project Cost (USD)
$ 6.61 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 5.8
Converted using 2019-06-29 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 29, 2019

Disclosed by Bank May 17, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed investment consists of a financing package of up to €2.5 million to Mali Shi SA (“Mali Shi” or the “Company”), a greenfield shea nuts processing company headquartered in Bamako, Mali. Mali Shi will produce shea butter for export market. The Company will employ over 83 people will collect shea nuts from more than 120,000 women collectors in Mali.The project consists of an investment plan to (i) construct a greenfield shea nuts processing plant in Mali, with an installed capacity of 30,000 tons of shea nuts, (ii) the construction of shea nuts storage warehouses; (iii) the purchase of logistical equipment; and (iii) a working capital line (the “Project”). The Project will also be supported by the Private Sector Window of the Global Agriculture and Food Security Program (“GAFSP”), a multilateral mechanism launched by the G20 with the purpose of scaling-up support to help less developed countries alleviate poverty and improve food security, a program implemented by IFC.

The most significant, expected project-level outcome is the increased income for ~120,000 new and existing shea nuts collectors in Mali, primarily women. Beyond the project, IFC anticipates the investment will increase competitiveness in Mali's shea nuts sector through demonstration and replication effects, and capacity building and skills.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Mali Shi Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Mali Shi-SA 
Simballa Sylla 
Managing Director 
+(223) 20 21 90 93 
simballa@omamali.com 
Rue 408, Porte 10, Niarela, Bamako, Mali 
Websitehttp://www.omnium-invest.net/en/ 

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/

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