Maskh DARES (IFC-51454)

Countries
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bauchi, Jigawa, Adamawa and Kano States.
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."
Voting Date
Oct 31, 2026
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
Maskh Nigeria Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
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)
$ 2.80 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)
$ 11.60 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 6, 2026

Disclosed by Bank Sep 24, 2026

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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, the debt investment is part of an up to US$200 million IFC DARES Platform under which IFC is looking to provide similarly structured debt investments to several mini-grid developers and operators. 

Maskh Nigeria Limited (Maskh or the Company) is one of the renewable energy services companies (RESCOs) proposed for financing under the second cohort of the IFC DARES Platform. The proposed investment is to support the Company to build up to 24 solar mini-grid sites, comprising 23 isolated minigrids and one interconnected mini-grid, totaling approximately 7 MW across Bauchi, Jigawa, Adamawa and Kano States in Nigeria. Maskh also consider implementing 5,000 Solar Home Systems (SHS) across Nigeria. The project is expected to provide approximately 18,828 new electricity connections to underserved households and businesses. The sites are expected to receive performance-based grants from the World Bank Nigeria Distributed Access through Renewable Energy Scale-up Project (Nigeria DARES).

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

The proposed IFC financing will be a secured revolving debt facility to Maskh comprising: (i) an IFC A loan of up to US$2.8 million on its own account. IFC will also mobilize US$1.4 million from a parallel lender. Total project cost is estimated at approximately US$11.6 million.

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.

Maskh is a Nigerian renewable energy and infrastructure company incorporated in 1991 and headquartered in Bauchi State. The Company has over 30 years of experience in civil and electrical engineering and has evolved into a renewable energy developer and operator. As of 2026, Maskh operates 15 solar mini-grids across Bauchi and Kaduna States, totaling 480 kW and approximately 2,856 customer connections. The Company has participated in donor-supported energy access programs including the Nigeria Electrification Project (NEP), the African Development Bank's Minimum Subsidy Tender program, and the United Nations Development Programme African Mini-Grid Programme. The Company is wholly family owned.  

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Maskh Nigeria Limited Client Energy

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.

 

For Inquiries About the Project, Contact

Maskh Nigeria Limited
Qa'im Mahmood
Director
+234 706 638 8063
Qaim.m@maskh.com.ng
1, Makurdi Close, GRA, Bauchi State, Nigeria
www.maskh.com.ng
 

Local Access of Project Documentation

Contact Person: Qaim Mahmood

qaim.m@maskh.com.ng 

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

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