Westfalia Moz II

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  IFC is considering a senior loan of up to USD $2.8M to Westfalia Fruto Mozambique Limited (WFM or the company), an avocado producing company located in Mozambique. WFM is 75% owned by Hans Merensky Holding (HMH) and 25% by AgDevCo (together the Sponsors). Proceeds of the loan will be used by WFM to acquire an existing 958 ha farm in Manica Province, Mozambique (known as Pegacho Farm of the Catandica project) which will be used to plant avocados (the project). The proposal would represent a repeat investment with WFM and a fourth investment with the company’s parent, HMH. Details on previous investments with HMH can be found at the following sites: https://disclosures.ifc.org/#/projectDetail/ESRS/34183 (an equity investment aimed to support timber processing efficiency in South Africa and fruit plantation development in South Africa and Latin America); https://disclosures.ifc.org/#/projectDetail/ESRS/34183 (for the establishment of an avocado plantation at the Zembe farm outside Chimoio and pack house located in the center of Chimoio in Manica Province of Mozambique); https://disclosures.ifc.org/#/projectDetail/ESRS/40091 (a project aimed to strength the company’s supply chain in Latin America).The company’s operations (as supported by IFC’s investments) are currently judged to be satisfactory with regards to environmental and social performance.