Mezz Tower and Djibouti International Business Centre (MIGA-13129)

Countries
  • Djibouti
Geographic location where the impacts of the investment may be experienced.
Specific Location
North West Djibouti City
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 30, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
International Lender to be Determined
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 23.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Aug 19, 2021

Disclosed by Bank Apr 20, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, Horafia S.A, Switzerland has asked the Multilateral Investment Guarantee Agency (MIGA) to cover its investment into Mezz Afrique S.A.S., a company incorporated in Djibouti that provides a global office service to businesses operating in Djibouti and throughout the horn of Africa. The project is a 17-storey office tower constructed on a separate parcel of land that has been reclaimed from an internal lake near the first island of an area encompassing five reclaimed islands enclosed by a lagoon. The entire estate belongs to Mezz Afrique S.A.S., with each island intended to be developed separately.

The Project is located along a prime waterfront site facing the Gulf of Tadjourah in North West Djibouti City. The Project is in close proximity to the main demand generators for office space in the capital, namely the City Centre, the Sea Port, the Free Trade Zone and the Fishing Port. The site has a total area of 95,188 square meters, land and water included, and has a single access point from the main road that serves all five islands. The tower itself is accessed via a 17m pedestrian bridge from the first island. The project footprint includes a car parking area, maintenance areas, one water tank for sanitary water distribution and firefighting, and another for irrigation, adjacent wastewater treatment plant, solid waste storage area, services building, HVAC area, enclosed storage area for hazardous materials and a back-up generator building. Tower design has been to high standards with modern energy efficient systems installed and attention paid to overall resource minimization. Eligibility for LEED, or other certification program recognizing the energy/water consumption efficiency is being explored by the management company.

The Project will be managed either directly by Mezz Afrique S.A.S. or, alternatively, by Djibouti International Business Centre S.A.S, which is an entity fully owned by Horafia and would act as the exclusive agent of Mezz Afrique in providing the global office service to businesses occupying the tower and would also be responsible for the maintenance and management of the tower and facilities.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works