MACCEM

pending

 Mackie Building Materials (MBM or ‘the Company’) was established in Freetown, Sierra Leone in 1995, and is engaged in the sale of cement and steel, with an existing market share of 50% for cement. MBM’s sister company, MACCEM Industries Limited (‘MACCEM’), was established in 2019 to engage in the importation, production, and sale of bagged cement, also in Sierra Leone. MACCEM is planning the construction of a ~560,000 tons per annum (tpa) capacity cement grinding plant in Hastings, Freetown (‘the Project’). The Project is located on a 10.9-acre site adjacent to the Hastings Airstrip and the Jui-Masiaka Highway in Waterloo Rural, Freetown. The nearest residential area is approximately 100m from the site. The site already contains MACCEM’s operational cement bagging plant, with civil works for the grinding plant underway. As of July 2024, site clearing, levelling and civils have been completed. The anticipated construction timeline for the remaining work is 12-15 months. Clinker for the grinding plant will be imported and transported via road to the site from the Queen Elizabeth II Quay at the Port of Freetown. IFC is considering a debt financing package of up to US$ 24 million to MBM for the construction of the project. MBM’s sister company, MACCEM, which will own the proposed grinding plant and will be a co-borrower of the IFC loan. The proposed financing package comprises an up to US$ 12 million IFC A loan and up to US$ 12 million International Development Association Private Sector Window Blended Finance Facility.