ALMACENA BV (FMO-58684)

Regions
  • Africa
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
U
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
Oct 1, 2020
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
Almacena BV
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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, etc.
Investment Amount (USD)
$ 0.15 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.13 MLN
Converted using 2020-10-01 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 26, 2020


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Project Description

With Finture Solutions development capital Almacena BV will accelerate the implementation and roll out of the online Platform and mobile app that will offer Commodity Trading as a Service (e.g. finance, logistics, storage, insurance, marketing) to effectively shorten the supply chain and create win-win trades for the producers and end-buyers.

The project gives African growers and their families an affordable finance alternative in an intuitive and flexible manner; actively promotes women-only cooperatives and offers special rates of finance to stimulate women professional employment; helps with job retention in rural areas; enables access to EU markets and higher value retention for the African growers and promotes fair trade, organic and best agricultural practices and responsible sourcing on the platform.

 

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

ACCESS TO INFORMATION

As part of FMOÕs Òex-ante disclosureÓ (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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