MACCEM (IFC-48623)

Countries
  • Sierra Leone
Geographic location where the impacts of the investment may be experienced.
Specific Location
Hastings
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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."
Borrower
MACCEM Industries (SL) 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)
$ 24.00 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)
$ 36.50 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 May 21, 2025

Disclosed by Bank Mar 5, 2025

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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 an investment comprising an up to US$12.0 million “A” loan and a US$12.0 million subordinated loan from IFC acting as the implementing entity of the International Development Association’s Private Sector Window Blended Finance Facility for a total financing package of US$24.0 million to Mackie Building Materials (“MBM”) and MACCEM Industries SL Limited (“MACCEM”). This will be used to part finance the construction and operation of a cement grinding plant in Hastings, Sierra Leone. This backward integration project is expected to increase supply of locally produced cement and improve cost competitiveness.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project as per IFC’s Policy on Environmental and Social Sustainability. Based on IFC’s review, the project is expected to have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through established mitigation measures.

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

The total project cost is estimated at US$36.5 million. IFC’s proposed investment comprises an (i) up to US$12.0 million A loan and (ii) up to US$12.0 million concessional subordinated loan from IFC acting in its capacity as the implementing entity of IDA PSW BFF. The IDA PSW BFF loan will help close the funding gap and de-risk IFC's investment by being subordinated in payments and liquidation to the IFC A loan.

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.

MACCEM is a private company registered in Sierra Leone undertaking an industrial investment project for the loose-bulk processing and bagging full-scale manufacturing of cement from raw materials.

Both MBM and MACCEM are 100% owned by Mr. Ahmed Mackie (the Sponsor) and his immediate family.  

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - MACCEM Industries SL Limited Client -
- - - - Mackie Building Materials Parent Company -

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.

MACCEM Industries SL Limited (“MACCEM”)
Mr. Ahmed Mackie
Managing Director
+23288005005
mackie@mackie-group.com
3 Wilberforce Street, Freetown, Sierra Leone
N/A

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

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

How it works

How it works