MOHAMMED ENTERPRISES TANZANIA LTD
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
Mohammed Enterprises Tanzania Limited (MeTL) is an associate company of the MeTL Group of Dar-es-salaam, Tanzania which is one of the largest corporate entities in Eastern Africa with interest in various businesses including manufacturing, agri-processing, agriculture, import and export trading, local trading, petroleum products, bulk imports, bulk storage and retailing, insurance, real estate, road transport and logistics and more.
What is our funding objective?
The objective is to support the MeTL Group to contribute to several initiatives that aim to prevent the spread of Coronavirus to the population of Tanzania: i) The project entails the establishment of the supply chain of medical equipment and supplies specifically COVID-19 personal protective equipment (PPE) for private health centers in rural Tanzania as well as to the public. ii) The project aims to reduce economic hardship of its employees and employees of the MeTL Group by providing COVID-19 PPE including masks, sanitizers and hand soaps to help its staff and families. iii) The project also envisions to build capacity of hospitals designed to treat people infected with Coronavirus through free provision of medical supplies related to COVID-19. iv) Lastly, the project will undertake to create awareness amongst the population on the spread of Coronavirus and the respective preventive measures.
Why do we fund this investment?
FMO is funding the project to enable employees of MeTL and the MeTL Group (over 26,000 people) and their families the access to free preventive gear against COVID-19 including face masks, sanitizers and hand soaps. The project will contribute to preventing new cases of COVID-19 among the Tanzanian population and reduce poverty acceleration in the already poverty-stricken community.
More investments
| Date | Total FMO financing |
|---|---|
| 12/2/2014 | USD 20.00 MLN |
- Region
- Africa
- Country
- Tanzania, United Republic of
- Sector
- Agribusiness, Food & Water
- Effective date
- 8/21/2020
- End date
- 8/23/2022
- 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) - B+