Original disclosure @ EBRD website
Updated in EWS Jan 11, 2023
Disclosed by Bank Dec 6, 2022
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According to bank provided information, the investment involves the provision of up to USD 20 million senior unsecured working capital loan to Afia International Egypt (the "Company" or the "Borrower" or "Afia Egypt"), an Egyptian company engaged in the manufacturing and sale of edible vegetable oils and vegetable ghee.
The contemplated financing supports the Borrower's working capital needs for the importation of its main production input, edible oils, from the international markets. The Project strengthens the Company's resilience to the current and potential shocks from the external environment with growing food security threats in the SEMED region and foreign currency shortage in Egypt following the Russia-Ukraine war.
Afia Egypt, established in 1992 for the manufacturing and sale of edible vegetable oils and vegetable ghee and is one of the two leading players in the Egyptian edible oil and ghee market. The Company is engaged in the refining of crude and semi-refined vegetable oils to produce corn, sunflower, blended vegetable cooking oils as well as vegetable ghee targeting premium and sub-premium segments. Afia Egypt is fully owned by Savola Foods Company, (the "Sponsor" or "SFC"), and ultimately owned by Savola Group, one of Saudi Arabia's leading agribusiness companies. Savola Foods acts as the holding company for the directly owned manufacturing businesses of Savola Group.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Mohamed Salah Deabes
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