MARIS LIMITED
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
FMO’s client is Maris Limited, one of FMO’s investee funds in Africa. FMO has supported Maris previously with CD funding for a project on ESMS and business integrity practices in the amount of EUR 45,000. Results of these projects are still to be measured but the outlook is positive, with more attention for business integrity when working with investees and a better feeling for environmental and social risks related to these investees.
What is our funding objective?
On March 15th, 2019 tropical cyclone Idai struck Mozambique and several other countries in Africa causing widespread flooding and destruction across the southeast corner of the continent. 1,7 million people were affected by the cyclone. Just over a month later, cyclone Kenneth followed in its path. Meteorologists have honoured Kenneth with the questionable reputation of being the strongest storm to hit Mozambique in history. Kenneth made landfall just above Pemba, one of the coastal cities in Northern Mozambique. Most buildings did not survive Kenneth or the subsequent flash floods, mud slides and heavy rains. Malaria and Cholera epidemics have been reported, as well as a lack of shelter, food and clean water assistance, even months after the cyclone took place. In order to help the affected communities rebuild their lives and villages, FMO wants to provide support by means of emergency funding.
Why do we fund this investment?
FMO aims to be the preferred partner for local prosperity. FMO generally does not provide 100% grants but looking at the magnitude of the disasters, FMO’s MB felt it is suitable to support the recovery of the local communities via our clients.
More investments
| Date | Total FMO financing |
|---|---|
| 8/2/2023 | EUR 0.15 MLN |
| 10/13/2021 | EUR 0.04 MLN |
| 9/12/2019 | USD 10.20 MLN |
| 1/30/2019 | EUR 0.05 MLN |
| 8/7/2014 | USD 5.00 MLN |
- Region
- Africa
- Country
- Mozambique
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 9/11/2019
- End date
- 12/2/2020
- Total FMO financing
- EUR 0.05 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A