Grit REIG AII

active

 IFC proposed investment is a subscription for a $30m subordinated note to be issued to Africa Impact Industrial, currently renamed to Bora Africa (“Bora”, the “Company”), a wholly owned subsidiary to be set up by Grit Real Estate Income Group Limited (“Grit” or the “Sponsor”) with a specialist real estate mandate for acquisition and development of warehousing, prime logistics, light industrial, manufacturing, storage facilities, data centres and digital infrastructure. Grit is seeking IFC’s funding to support the execution of its industrial pipeline assets in Kenya, Mozambique, and Nigeria worth approximately $192m (the “Pipeline Assets” or the “Project”). Grit is a leading pan-African impact real estate company focused on investing in, developing and actively managing a diversified portfolio of assets in selected Sub-Saharan Africa countries (excluding South Africa). Grit’s current industrial assets include (i) Imperial Warehouse (Kenya); (ii) the Orbit Facility leased to a household chemicals manufacturer (Kenya), (iii) Bolloré Warehouse (Mozambique), (iv) Africa Data Centres (Nigeria), and (v) three land bank assets in prime industrial nodes ready for greenfield development (Kenya)  Grit is an IFC client since 2021. IFC provided a corporate loan to Grit (committed in 2021, IFC project #45002). The ESRS of this investment is available at the following links. https://disclosures.ifc.org/project-detail/ESRS/45002/grit-reig Ongoing interactions indicate that the client is in line with IFC’s E&S requirements and, E&S action plan has been materially fulfilled by the company.