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Finatrade Holdings Limited
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 25305
Company nameFinatrade Holdings Limited
Country
Ghana
Sector1Wholesale (Including Grocery and Farm Products)
Environmental categoryB
Department
StatusCompleted
Date SPI disclosedNovember 1, 2007
Projected board dateDecember 3, 2007
Previous EventsSigned: March 31, 2008
Approved: March 31, 2008
View Environmental & Social Review Summary (ESRS), click here
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  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
Finatrade Holdings Limited (FHL or the Borrower), incorporated in Cyprus, consolidates 27 companies (jointly Finatrade or the Group) operating in Ghana and 6 other West African countries in soft commodity (rice, sugar and vegetable oils) and fast-moving consumer goods (FMCG) distribution. Finatrade is also involved in cocoa beans origination in Ghana. The project intends to provide support for the Group’s new strategy and fund its 2008-12 regional expansion in Ghana, Senegal, Niger, Togo, Benin, Burkina Faso and Nigeria, including financing capital expenditures for logistics, funding incremental working capital needs, and refinancing existing debt. Through the project, Finatrade aims to leverage its local experience to support the rapid growth of food and beverage consumption in West Africa.

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