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According to the Bank’s website, the investment proceeds will support the Company's growth needs, helping to fund its operations and capital investments in logistics infrastructure and software development.
EAF's activities support FMO's objective to benefit smallholder farmers and reduce food waste. The Company focuses on Tanzania's fragmented food value chains and leverages technology and automation to improve logistics and distribution services, reduce food waste, increase farmer income, and improve the quality of the produce for the consumer.
This investment is E&S categorized as B due to the potential limited adverse environmental and social (E&S) risks and impacts that are generally site-specific, largely reversible, and readily addressed through mitigation measures. The investment mainly triggers IFC Performance Standard 2 on working conditions through the employment of casual labor. EAF employs around 400 FTE casual workers in the peak season.
Total FMO financing: USD 2.50 MLN
Funding: Venture Capital 002
EA Foods Limited ("East Africa Foods") is a food logistics and distribution company in Tanzania, leveraging technology to optimize the fresh fruit and vegetable supply chain. EAF sources produce from over 8,800 smallholder farmers and supplies primarily to informal retailers, shops, restaurants, and supermarkets in larger cities. The Company is developing an integrated platform that optimizes the supply chain for selected crops (mainly potatoes and bananas) that are both high in demand and domestically grown, thus improving quality and reducing food waste.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | EA Foods Limited | Client | - |
https://www.eafoods.com/
ACCESS TO INFORMATION
As part of FMO's ex-ante disclosure (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