Magerwa 1

completed

IFC proposes to finance an investment by Portek International Limited (the “Sponsor”) in Magasins Generaux du Rwanda s.a (“Magerwa” or the Company”), a para-statal company that manages the handling and warehousing of goods imported to, transiting through, and exported from Rwanda. Portek is a turnkey provider of equipment, services and automated management systems to ports globally, as well as an operator of medium sized container and multipurpose ports in the Middle East, Africa and Asia. Portek’s investment in Magerwa will support the privatization of the Company, provide financing for capital improvements – including a fuel oil bunkering facility in Kigali as well as the potential future development of seaport facilities in Kenya and Tanzania – and improve the overall efficiency of Magerwa’s operations through management and staff capacity building. Established in 1969, Magerwa has developed and maintains handling and storage facilities throughout Rwanda, including its flagship facility, a 16 hectare warehousing, trans-shipment and distribution facility at Gikondo, within the City of Kigali, and a four hectare customs clearing and warehousing facility at the Kigali International Airport, that includes state-of-the art cold storage to facilitate the international export of horticulture products. In addition to these facilities, Magerwa maintains two fuel oil tanker-truck transit yards on the outskirts of Kigali and 10 handling and warehousing facilities, nine of which are located at crossing points along Rwanda’s borders with Kenya, Uganda, the Democratic Republic of Congo, Tanzania and Burundi. In addition to cargo handling and warehousing, Magerwa operates a cargo handling equipment rental business (forklifts, container stackers, mobile cranes, etc.).