BBEG (SA, DRC & ZA) (IFC-44749)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Congo, Democratic Republic of
  • South Africa
  • Zambia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Boma, Kinshasa (DRC); Lusaka (Zambia); Gauteng province (South Africa)
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
  • 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
Proposed
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
Sep 7, 2026
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
B.B. Energy Group Holding Ltd
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 42.00 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.
Loan Amount (USD)
$ 41.00 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.
Project Cost (USD)
$ 64.00 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 @ IFC website

Updated in EWS Aug 19, 2026

Disclosed by Bank Aug 6, 2026

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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.

As stated by the IFC, the proposed investment package of up to US$42 million is to support BB Energy Group Holding Ltd., a leading global independent energy trading company, in implementing its US$64 million Liquified Petroleum Gas (LPG) expansion program across the DRC, South Africa, and Zambia. In the DRC, BB Energy will develop a greenfield LPG import terminal in Boma, a filling plant in Kinshasa, and associated distribution infrastructure to promote clean cooking. In South Africa, BB Energy will acquire an ownership stake in an LPG bulk distributor and expand its operations through investments in storage and distribution capacity. In Zambia, BB Energy has acquired the LPG assets of a leading LPG distributor in Lusaka and grow through investments in storage and distribution infrastructure.

The Project is located across three countries: the Democratic Republic of Congo, South Africa and Zambia. In the DRC, the Project will be located in Boma along the Congo River, and Kinshasa. In Zambia, the Project will be situated in Lusaka. In South Africa, the Project will be located in the Gauteng province.

 

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

As stated by the IFC, the Total Project cost is estimated at US$64 million and will be financed by US$21 million equity from the Sponsor equity, while the balance of funding will be from the proposed IFC investment package. The proposed IFC financing package consists of an IFC A loan of US$30.15 million, an IDA Private Sector Window (PSW) subordinated loan of US$11.03 million loan and an equity investment in DRC of US$1 million.  

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, established in 1963, BB Energy is a family-owned enterprise that is owned, controlled and managed by members of the Bassatne family. The Group is executing the Project through Deux Rivieres Holding (DRH), its sub-holding company for the LPG expansion. DRH is wholly owned by BB Energy Downstream Ltd (BBED), a key subsidiary of BB Energy, focused on the petroleum downstream sector.  

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - BB Energy Group Holding Ltd Client Energy

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.

Client - B.B. Energy Group Holding Ltd:

Maroun Najem - Project Manager
Address: 3 Temasek Avenue #32-02, Centennial Tower, Singapore 039190
Phone: +65 6333 1488
Fax: +65 6333 1477
Email: maroun.najem@bbe-d.com

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/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

How it works

How it works