AEF Agflora Private Limited, Zimbabwe

completed

SUMMARY OF PROJECT INFORMATIONCountry/Project Name: ZIMBABWE - AGFLORA (Pvt) LIMITEDSector: FloricultureProject No: 7831Projected Board Date: January 5, 1997Company Name: Agflora (Pvt) LimitedTechnical Partner and/or Major Shareholders: The shareholders of Agflora are Mr. Charles Gurupira and his wife Agnes. The Gurupiras are Zimbabwean citizens and they jointly own the company. Their son Tendai, a business student at UZ, is also involved in the project. Project Cost Including Proposed IFC Investment: The project is estimated to cost US$383,000 and IFC has been requested to provide a loan of US$170,000.Location of Project and Description of Site: The project is located at two sites: (i) 0.6 hectare of roses located in Borrowdale; (ii) one hectare of roses in Saffron Walden; and (iii) two hectares of summer field flowers also in Saffron Walden. Borrowdale is in the suburbs of Harare, and Saffron Walden is about 25 Km from Harare.Description of Company and Purpose of Project: Agflora was formed in 1993 in Zimbabwe. The sponsors plan to grow roses and summer field flowers for export to Europe.Expected Developmental Impact: The project will provide employment of up to thirty people when it is fully operational. The project will also generate foreign exchange revenue for the country and assist indigenous entrepreneurs to establish themselves in a competitive business.Environmental Category and Issues: This is a category B project according to IFC''s environmental review procedure. Environmental, health and safety issues associated with this project include pesticides handling and application, integrated pest management, water supply, CFC-free cold storage, provision of personal protective equipment and safety training, and disposal/destruction of used pesticides containers. The sponsors are preparing an environmental, health and safety management plan to address these issues. An ERS is available.Date SPI sent to PIC: November 14, 1996 For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).