Maris 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
The client is Maris, an SME focused investment holding company, with start-ups and early-stage investments and an investee in FMO’s PE portfolio. The beneficiary is Agris Africa, an agricultural investment company and subsidiary of Maris Ltd. Agriculture (Food & Forestry). Agris specializes in the growing and distribution of fresh fruits, vegetables to local and international markets.
What is our funding objective?
The focus of this project is on sustainability in the packaging and management of shelf life of produce - to reduce food loss. This will both enhance market positioning of Agris and generate new and increased environmental and social impact.
Why do we fund this investment?
FMO supports this project because the project contributes to SDG 13 (Climate action) by mitigating methane emissions through food waste reduction which is the top source of potential CO2e emissions reduction according to project drawdown (Scenario 1). Furthermore, this project aims to create 100 new jobs, thereby aligning with FMO’s strategy to contribute to SDG 8 (Economic growth and Decent Jobs). Lastly, the project targets increased employment in LDCs in East Africa, thereby contributing to SDG 10 (Reducing Inequalities among countries).
What is the Environmental and Social categorization rationale?
N/A
More investments
| Date | Total FMO financing |
|---|---|
| 10/13/2021 | EUR 0.04 MLN |
| 9/12/2019 | USD 10.20 MLN |
| 12/2/2020 | EUR 0.05 MLN |
| 1/30/2019 | EUR 0.05 MLN |
| 8/7/2014 | USD 5.00 MLN |
- Region
- Africa
- Country
- Africa
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 9/4/2023
- Effective date
- 8/2/2023
- Total FMO financing
- EUR 0.15 MLN
- Funding
- MASSIF
-
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