FCS RE Kings Beverage

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Established in 2016, Kings Beverages (“KB” or the “company”) is a beverage company located near Freetown in Sierra Leone. This proposed IFC loan investment of up to US$7 million is for: (i) capital expenditures (CAPEX) for the completion of its existing factory which has been partially built and commissioned in March 2020 for the production of water and  carbonated soft drink (CSD) products; and (ii) working capital. The scope of the proposed expansion includes the addition of a fruit juice production line. This financing will complement an IFC advisory engagement to set-up a sourcing program with local fruit farmers (up to 85% of its raw material). This advisory will also include the development of a supply chain risk screening of eligible third-party fruit suppliers.  The factory is located on 1.9 acres lot in Regent town (6 miles east of Freetown). The factory presently consists of two production lines, one for mineral water and one for CSDs. Both are currently operational. The facility also includes a Quality Assurance / Quality Control (QA/QC) laboratory, raw water purification unit, wastewater treatment plant, generators, and warehouses for storage of raw material and finished products. The company also owned a fleet of vehicles (6 delivery trucks and 2 small minibuses) for product distribution and personnel transport. Three additional delivery trucks are envisaged soon considering the increased production output.