Higest Expansion - Phase II

pending

   Higest Moçambique, Lda (“Higest” or the “Company”) is an integrated poultry company located in Mozambique. The company sells (i) day old chicks (DoCs); (ii) chicken and animal feed and (iii) fresh and frozen chicken products. Higest headquarters in Machava area of Matola sub-city hosts the head office, hatchery, feed mill and the abattoir. The company also owns and operates 2 farms in Namaacha and Mafavuka providing breeders and broilers and operates 27 shops in owned and leased premises selling DoCs and feed to buyers, including 100 independent retailers in Mozambique. Higest has established a partnership with 10 outgrowers located in Namaacha and Matola, who supply broilers to its abattoir for production of frozen chicken products. Higest is implementing a phased expansion program to enhance its production and processing capacity and efficiency. The proposed IFC investment is a loan of up to US$ 4.22 million equivalent in Mozambican Meticals (MZN) to (i) increase the capacity of the hatchery in Matola by 40%; and (ii) upgrade Higest’s outgrowers’ broiler farms through in-kind credit. This revision of the ESRS provides additional (stand-alone) details on the improvements in Higest’s E&S management system, with specific regard to animal welfare requirements under PS 6.