Dufil Prima Foods PLC (Nigeria) (DFC-DUFILPRIMA)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
U
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.
Borrower
Dufil Prima Foods Plc
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 37.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ DFC website

Updated in EWS Oct 12, 2019


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Project Description

Project documents indicate that the Project is expected to have a positive developmental impact in Nigeria by supporting the expansion of a food manufacturer and processor. Nigeria is a net food importer with food imports estimated at more than $9 million per day. The Project will create more than 400 local jobs in a country facing high unemployment, which was estimated to be 23 percent in 2018. The Borrower makes manufactured foods that are available throughout Nigeria through a strong distribution network which includes 1,000 exclusive distributors, 10,000 subdistributors and more than 500,000 retailers, along with a 1,000 fleet of trucks to manage the inbound and outbound logistics. The Project aligns with Nigeria's Agriculture Promotion Policy that seeks to revive the agriculture sector and boost food production, which will help Nigeria achieve its UN Sustainable Development Goal 2 (Zero Hunger).

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure