FCS RE MALI SHI (IFC-41588)

Countries
  • Mali
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
Jun 21, 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
MALI SHI-SA
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)
$ 1.42 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 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, converted to USD$. Please see updated project documentation 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

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
  • International Finance Corporation (IFC)
Private Actors
  • Mali Shi (Client)
Contact Information

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/