Malawi Mangoes

completed

The proposed investment consists of a senior secured US$10.0 million loan in Malawi Mangoes (Mauritius) Limited. (“Malawi Mangoes”). Malawi Mangoes was established in 2009 with processing operations based in the Salima District of Malawi. Malawi Mangoes produces and markets mango and banana not from concentrate (“NFC”) fruit puree and fresh fruits primarily for export markets in Africa, the Middle East and Europe via its wholly-owned Malawian subsidiary, MM Operations Limited. The proposed financing package will be supported by the Private Sector Window of the Global Agriculture and Food Security Program (“GAFSP”). GAFSP funding plays a catalytic role to create opportunity to support innovative private sector investments and deliver a level of additionality and impact beyond what is possible through IFC’s regular operations. Malawi Mangoes presently owns two farms with total land at 426 hectares as well as a multi-fruit processing facility built and commissioned in December 2013 with currently installed capacity of 31 metric tons of NFC production per day. Malawi Mangoes is seeking to transition into its next stage of growth by adding production capacity. The plan is focused on realizing the potential of its existing mango and banana farms and its 4,000 outgrowers and expanding its primary production at the proposed Nyu Nyu Farm and processing capacity.