Menema (IFC-49212)

Countries
  • Guinea
Geographic location 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
Hold
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."
Borrower
MENEMA GUINEE SARL
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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 9.65 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.
Currency conversion note:
Bank reported 9.2
Converted using 2025-03-03 exchange rate.
Project Cost (USD)
$ 15.73 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.
Currency conversion note:
Bank reported 15
Converted using 2025-03-03 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 19, 2025

Disclosed by Bank Mar 3, 2025

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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 the Bank’s website, the proposed investment is a secured financing of up to Euro (€) 9.2 million to Menema Guinée Sàrl, a leading Guinean family-owned manufacturer of mattresses, plastic household goods and wooden furniture.

IFC’s financing supports the capacity expansion of the Company’s operations and associated working capital needs. The project is expected to be supported by the IDA Private Sector Window Blended Finance Facility (“IDA PSW BFF”), as described in the Blended Finance Section. 

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability. IFC’s review concluded that the E&S risks and impacts associated with this project are limited, site-specific, and can be readily avoided or mitigated through generally accepted mitigation measures described in this document and aligned with and in the Environmental and Social Action plan (ESAP).

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

The total project cost is €15 million comprising of (i) an IFC A-Loan of up to €4.6 million; and (ii) a concessional loan of up to €4.6 million subordinated to the A Loan from IFC, acting in its capacity as the implementing entity of IDA PSW BFF.

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.

The Company was established by the Guinean Ly family in the early 1980s and currently employs 337 individuals. The ownership of the company is equally divided between Mr. Kadialiou Ly and Mr. Elhadji Thierno Ly, each holding a 50 percent share.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Menema Sàrl Client -

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.

Menema Sàrl
Kadialiou Ly
CEO
+224 622 96 43 23
kadialiou.ly@menemagroupe.com
Commune de MatotoRépublique de Guinée
menemagroupe.com

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

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How it works