Mohinani Group (IFC-48559)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Ghana
  • Nigeria
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
Active
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
Dec 21, 2023
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
Eastern Focus Investments Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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.
Project Cost (USD)
$ 55.00 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 18, 2025

Disclosed by Bank Nov 21, 2023

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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 the Bank’s website, IFC is considering a total funding package of US $55.0 million for Eastern Focus Investments Limited (the “company”), Conifer Holdings Limited, Polytanks Ghana Limited and Sonnex Packaging Nigeria Limited (as “co-borrowers). The company and co-borrowers are part of the Mohinani Group. The Project is expected to be supported by the IDA20 Private Sector Window Blended Finance Facility (“IDA PSW BFF”), as described in the Blended Finance section below. The funds will be used to help the company (i) develop two plants (one in Ghana and another in Nigeria), each with capacity of 15,000 tons per annum (tpa), to recycle polyethylene terephthalate (PET) from plastic waste into recycled pellets (rPET), and (ii) working capital support for the Company in the chemicals and polymers trading and distribution business.

The proceeds will be utilized for Polytanks Ghana Limited in Ghana and in Sonnex Packaging Limited in Nigeria. Working capital facilities will be utilized by Eastern Focus Investments Limited in the chemicals and polymers trading and distribution business.   

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

 The Project is expected to cost US$55.0 million, comprising of (i) up to US $30.0 million IFC A Loan and (ii) up to a US $25.0 million B2/MCPP Trust Loan, mobilized under the IFC’s Managed Co-Lending Portfolio Program (the MCPP); together the IFC Loan. Additional support will be provided by the IDA20 PSW; the latter will provide a first loss guarantee of a portion of the IFC loan. 

Private Actor Relationship
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.

The Group holds its business through two separate holding companies – Eastern Focus Investments Limited (EFI) which owns all the Group’s manufacturing and chemicals trading subsidiaries in Africa and International business (UAE and Hong Kong); and Conifer Investments which owns all the Group’s consumer and electronics trading business in Africa. Polytanks Ghana Limited is a 100% wholly owned subsidiary of Eastern Focus Investments Limited and Sonnex Packaging Nigeria is a 100% wholly owned subsidiary of Confier Holdings Limited. 

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.

 Mohinani Group was founded in Ghana in 1966 by the late Ramchand Mohinani and has 3 major business lines: (i) manufacturing of plastics and packaging; (ii) trading and distribution of chemicals and polymers; and (iii) general goods trading and distribution of electronics, tires, motor bikes. The group is run by three brothers; Ashok Mohinani, Anil Mohinani and Sunil Mohinani. 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Conifer Holdings Limited Client -
- - - - Eastern Focus Investments Limited Client -
- - - - Mohinani Group Parent Company -
- - - - Polytanks Ghana Limited Client -
- - - - Sonnex Packaging Nigeria Limited 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.

12 Castle Street,

St Helier, Jersey,

JE2 3RT

British Virgin Islands   

ACCESS TO INFORMATION

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If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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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