UNITED EXPORTS LIMITED
Status: Approved investmentWhy disclosure?
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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
United Exports Limited (“United Exports”, previously known as “Mbiza Trading”) is a vertically integrated company that grows, distributes and sells high quality blueberries originating from South Africa and Zambia.
What is our funding objective?
The proposed financing package is a part of an EUR 3mln IFC-led COVID-19 Liquidity-Support Facility and will support business continuity and increase United Exports’ economic resilience.
Why do we fund this investment?
United Exports has successfully coped with COVID-19 impacts so far but the high rate of infections in South Africa poses a challenge to the production process and supply chain, especially as the Company approaches its peak harvest. Proposed facility will protect United Exports from further downside effects of COVID-19, continue supporting South Africa’s position as an emerging blueberry production hub and reach to more 4,500 temporary and permanent workers, many of which are women.
What is the Environmental and Social categorization rationale?
FMO’s environmental and social due diligence indicates that the investment has impact which is managed in a manner consistent with the following Performance Standards: PS 1 – Assessment and Management of Environmental and Social Risks and Impacts; PS 2 – Labor and working conditions; PS 3 – Resource Efficiency and Pollution Prevention. The Company is operating in a sustainable manner and implementing best practices in the development of farms, water usage and working conditions. The other Performance Standards are not applicable because there has been neither physical nor economic displacement during land acquisition (PS 5, 'willing buyer, willing seller arrangements'), no impact on biodiversity (PS 6, only existing farms will be selected), indigenous people (PS 7) or cultural heritage (PS 8).
More investments
| Date | Total FMO financing |
|---|---|
| 12/13/2022 | EUR 0.05 MLN |
| 9/29/2022 | EUR 7.00 MLN |
| 1/30/2019 | EUR 10.00 MLN |
- Region
- Africa
- Country
- South Africa
- Sector
- Agribusiness, Food & Water
- Effective date
- 10/23/2020
- Total FMO financing
- EUR 1.50 MLN
- Funding
- FMO NV
-
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