PRIMEFUELS KENYA LIMITED (FMO-51774)

Countries
  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 30, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Primefuels Kenya
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

FMO provides a co-borrower facility to Primefuels Tanzania Limited and Primefuels Kenya Limited, both logistics companies focusing on the transport of fuel, palm oil, edible oil etc. Its fleet consists of both trucks and rail assets. The companies focus on delivering high-quality transport services and distinguish themselves in the market through reliable service and high operational and safety standards.
The purpose of the financing is expansion as well as the refurbishment of the existing fleet by means of acquiring high-quality assets. This enables the client to better service its existing clients while attracting new ones as well.The FMO financing enables the transport of lubricants to regions where this is not readily available.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.