Bidco Bev. & Det

completed

Bidco Oil Refineries Ltd (BORL) a Kenyan private limited liability company, is one of East Africa’s leading manufacturers and distributors of fast moving consumer goods (“FMCG”). The Company is a family business owned by father and founder Bhimji Shah (33.3%), and his sons Vimal Shah (33.3%) and Tarun Shah (33.3%) through an intermediate investment holding company called Hemby Holdings Ltd. Bidco currently generates its revenues from the sale of cooking fats, edible sunflower, soyabean, maize and palm oils, soaps and detergents, baking powder and animal feed (more than 23 brands). The Company has recorded extremely high growth rates over the past few years and is well positioned for this expansion. The IFC is considering an A-loan of up to US$23 million to support the US$46 million expansion of Bidco Oil Refineries Limited (“Bidco” or the “Company”). The proceeds will be used for the construction and operation of new facilities to expand its production capacity in FMCG products. (the “Project”).