Original disclosure @ IFC website
Updated in EWS Oct 5, 2021
Disclosed by Bank Sep 7, 2021
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According to bank provided information, the proposed investment in Kings Beverages PVT Limited (KB or the Company) consists of: (i) a US$2.5 million A loan and (ii) a US $2.5 million loan from IFC in its capacity as implementing entity for the Global Agriculture and Food Security Program (GAFSP) Private Sector Window. The proposed financing will be used towards capital expenditures for the completion of the KB beverage factory located in Freetown, Sierra Leone, including two new fruit juice lines, one mineral water line as well as one carbonated soft drink (CSD) line (the Project).
An advisory project will be designed and implemented that aims at providing technical assistance in the areas of: (i) organization and capacity building of smallholder farmers supplying fruits to KB; (ii) food safety standards; (iii) environment and social standards; (iv) operational efficiency improvement; and (v) corporate governance.
KB is a Freetown-based greenfield beverage drink company (mineral water, fruit juice, CSD) that was established by Mr Kishore Parwani and Mr Atul Nijhawan, two entrepreneurs of Indian descent, emanating from Dubai. Mr Parwani has been active in Sierra Leone since the 2000’s in the business of trading scrap metals before venturing go into fast-moving consumer goods distribution and beverage manufacturing in 2011. He then partnered with Mr. Nijhawan in 2016 to launch KB, to capture the growing demand for bottled water and non-alcoholic drinks. Mr Parwani and Mr Nijhawan are each involved in their own trading activities based in Dubai which are primarily engaged in scrap metals for Mr Parwani’s Krishna Global Impex General Trading LLC and chrome and manganese for Mr Nijhawan’s Globustarr Trading Company LLC.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Kings Beverages PVT Limited
Mr. Kishore Parwani
+ 91 9920055047
Freetown, Sierra Leone
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