CI Safari (IFC-51064)

Countries
  • Kenya
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
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
CI Safari
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 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 Oct 24, 2025

Disclosed by Bank Aug 13, 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 proposes an equity co-investment in Safari Holdings. Safari Holdings is the holding company that owns 100% of the shares in ARP Africa Travel, Pollman’s Tours & Safaris, and Ranger Safaris. These companies offer safari and tour services in East Africa. The co-investment will be made through a Mauritius investment vehicle alongside Alterra Africa Accelerator Fund (“Fund” or “AAAF”).

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 according to IFC's Policy on Environment and Social Sustainability (2012). Based on information reviewed by IFC, the proposed project will have limited adverse E&S impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP).

Key E&S issues associated with the project include (a) company’s corporate and country level E&S management systems; (b) assurance of fair and safe labor and working conditions for staff including driver guides and agents, in line with applicable legal and IFC PS2 requirements; (c) pollution prevention and management of hazardous materials at vehicle refurbishment and repair workshops; (d) community and customer safety during guided tours and excursions including road safety; (e) Driver guide oversight, management and collaboration with applicable regulators for compliance with conservation management plans and codes of conduct in protected areas, (f) stakeholder engagement strategies and external communication procedures, including community grievance mechanisms.

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

 IFC proposes an equity investment of up to US$10 million through a Mauritian co-investment vehicle.

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.

The investment will be managed by Alterra Capital Partners, a Mauritius limited company, as the investment manager (the “Fund Manager”). Alterra is co-led by Bryce Fort, Bruce Steen, Eric Kump, Genevieve Sangudi and Paul Maasdorp.

Safari Holdings is the holding company that owns 100% of the shares in ARP Africa Travel, Pollman’s Tours & Safaris, and Ranger Safaris. These companies offer safari and tour services in East Africa.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Alterra Capital Partners Investor -
- - - - Safari Holdings 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.

Alterra Capital Partners
Genevieve Sangudi
Partner
+27 11 034 2000
Gsangudi@alterracapital.com
Johannesburg, South Africa, 2196
www.alterracapital.com

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