Bovima Export Development (IFC-602130)

  • Madagascar
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
Bank Risk Rating
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
Mar 22, 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.
Bovima Agri-Feed
The holder of the loan, grant, or other investment.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Project Cost (USD)
$ 3.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 21, 2019

Disclosed by Bank Dec 15, 2017

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Project Description

The objective of the Bovima Export Development project is to help Bovima establish the first export slaughterhouse in Madagascar and intensify meat production using modern feedlot systems. The project will work to establish Bovima, a green field meat processor, as a strong meat exporting business able to drive the industry in the country and establish best international practices in production efficiency, environmental sustainability, and animal welfare. It will support the client on managing environmental and social risks, establishing food safety management system, and maintaining competitive production costs. The project will source animals from smallholder farmers and would work with them to improve their production systems, and thus increase income.

The project has the following specific objectives:

  1. Provide technical advice in the establishment of a modern slaughterhouse and animal finishing feedlot
  2. Support client in accessing export markets and creating the basis for new industry in Madagascar
  3. Establish and roll out a working farmer out grower program for feed commodities and cattle supply that increases the incomes of at least 5,000 farmers and serves as a model for the industry.
Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - SMTP Group Parent Company -

Contact Information

(Contact details not provided at the time of disclosure)


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