Sunda Loan

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 Sunda is a manufacturer of fast-moving consumer goods, including detergent products, hygiene products, food, beverage, and home and personal care products with operations across several countries in Africa. Headquartered in Guangzhou, China, Sunda intends to expand its African production capacity to meet the growing demand for washing powder, diapers, and hardware products in the region.IFC's financing seeks to support Sunda's expansion of its production capacity and strengthen its local manufacturing capability in the region. IFC proposes to invest in Sunda's operations in Ghana, Guinea, Cote d'Ivoire, Kenya, and Nigeria, namely: (i) washing powder production factory in Ghana; (ii) distribution centers in Ghana; (iii) diaper/hygienic product factory capacity expansions in Ghana, Nigeria, Guinea, and Kenya; and (iv) a hardware manufacturing factory in Cote d’Ivoire (the “Project”).Ghana: (i) The washing powder production factory and distribution center are located in Sunda industrial park, Weijia, Accra, with a production capacity of 150,000 metric tons per year. The two assets are located within an industrial facility, developed, owned, and operated by Sunda and include a diaper factory and hardware factory. Construction of the facility was completed in July 2022, becoming operational in July the same year; (ii) the diaper factory commenced operations in 2015 for Phase 1. At present the factory has developed to phase 4, leading to a total of 13 working lines from phase 1 to phase 4.Guinea, Kenya, and Nigeria: Similar to the Ghana asset, the three diaper factories assemble diapers and other sanitary products utilizing identical technology. The Guinea, Kenya, and Nigerian assets operate one, six and three lines respectively. IFC's financing will support the expansion of these assets by one, seven and six lines respectively. The additional lines will fall within the existing facility boundaries with no land acquisition required.Cote d'Ivoire: Sunda's Cote d'Ivoire facility is located in PK 24 industrial zone, Abidjan. The asset is currently in the advanced stages of construction, and once complete, will fabricate sheet metal and reinforcement bar products, among others.