Brimore (IFC-45574)

  • Egypt
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Sep 14, 2021
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 6, 2022

Disclosed by Bank Aug 9, 2021

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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.

According to bank provided information, IFC is considering an equity investment of US$5 million in Brimore. The funding will primarily be used to expand the Company’s operations.   

Brimore (or “the company”) is a tech-enabled retail distribution platform in Egypt connecting approximately 111 medium and small manufacturers (suppliers) to end customers (consumers and trade shops) through a network of independent sales agents (also called distributors). Over 90% of the agents are women who earn commissions from selling goods within their communities while recruiting other sales agents into the network. The company has over 9,300 agents. Goods sold through Brimore consist of household appliances, textiles, clothing, health and wellness products, baby care products, personal care products, dry foods, beverages, cosmetics and beauty products. The company operates 1 central warehouse and 8 micro-fulfillment centers with a cumulative area of 11,365 square meters (“sqm”) providing storage for goods before distribution to agents and end customers. Brimore also provides a last-mile delivery service through a contractor who provides and manages the transportation fleet and the drivers. This service covers about 20% of the shipments, with the other orders are delivered through a contracted courier service. IFC is considering an equity investment of up to $5 million which will primarily be used for hiring new staff, renting of a new warehouse covering about 30,000 sqm, launching a nationwide credit program, establishing micro retail stores via a franchising model and launching last-mile delivery operations in Egypt (the “Project”).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Proposed IFC equity investment of up to US$5 million as part of the Series A financing round to fund the Company’s expansion.             

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Brimore was founded by Mohamed Abdulaziz, who currently serves as the CEO, and Ahmed Sheikha, who currently serves as the Chief Business Officer. Existing shareholders in the Company include Algebra Ventures (an IFC investee fund) and Endure Capital.               

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Brimore 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.

Ahmed Sheikha
Chief Business Officer
5 Othman Towers Maadi, Cornish, Cairo, Egypt 


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