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Supporting the continuation of the activities of the African agricultural and industrial group ETC Group Mauritiusroup Mauritius

Project

Agriculture and agri-food
Signature date
Location
South Africa, Côte d'Ivoire, Tanzania, Zambia, Zimbabwe
Financing tool
Loan
Financing amount (Euro)
47321597,5771
Customer
ETC Group Mauritius
Type of customer
Company
Country of headquarters
Mauritius
Project number
PZZ1682
Environmental and social ranking
A
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Proparco has allocated a €47 million loan to ETC Group Mauritius to meet its working capital requirements and thereby maintain access to employment in Sub-Saharan Africa.

Client presentation

ETC Group Mauritius is a major agricultural and industrial player in Africa, through its trading activities, as well as the processing of agricultural products and fertilizers.

Project description

The project consists in a contribution to the DFI Sustainability Linked Loan (SLL) program to finance the Group’s permanent working capital.  

SLL loan combined with environmental and social performance indicators (KPIs):

- KPIs 1.1 and 1.2: reduction of carbon emissions and deforestation related to supply chains

- KPI 2: reforestation and tree planting

- KPI 3: training for smallholder farmers (objective of targeting one million farmers)

- KPIs 4.1 and 4.2: increase the number of women farmers (objective of achieving 50% of women farmers) and training for them

Project impact

The expected impacts of this financing are as follows:

Employment

  • More than 8,000 direct jobs maintained in the Group, and more than 100,000 indirect jobs in its value chain

The project will thereby contribute to the achievement of SDG 8 (Decent work and economic growth).