Carrinho Loan

pending

 The proposed investment is a senior loan of up to USD40 million to Carrinho Empreendimentos, S.A. (Carrinho). Carrinho is the holding of an Angolan family-owned business (the Carrinho Group or the Group) integrating operations across the food value chain (origination, storage, processing, distribution and retail). The investment will support the Group’s expansion, including the extension of its wheat flour mill, the construction of a warehouse at its industrial complex in Benguela, the construction of a central kitchen in Luanda, the purchase of new trucks and the implementation of SAP software in its stores (the Project). . The Project is the continuation of Carrinho Group’s long-term import substitution program, started in 2016-2019 with the successful establishment of a state-of-the-art industrial complex with 19 factories (flour, biscuits, pasta, edible oil, various packaged foods, animal feed, etc.) at the mouth of the Lobito corridor.