African Minerals Limited

Debt : December 2009 - February 2020

BIO has granted a USD 1.1 M loan to African Minerals Ltd, a producer of lime- and soapstone in Uganda

Amount

€ 740,784.67

Type of investment

Debt

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation

Beneficiary locations

Sub-Saharan Africa: Uganda

Investment field

Enterprises

Activity

Minerals

Organisation

African Minerals Limited

African Minerals Ltd (AML) is engaged in the production of ground materials mainly calcium carbonate (also called limestone) used in the paint industry and soapstone used in making soap. The loan facility granted by BIO aims at supporting the Company in diversifying its operations by establishing a new plant for making hydrated lime. Lime is an important basic material used in a variety of industries which include construction, agriculture, chemicals and several processing industries. It replaces a significant part of the current imports and serves the local/regional market.

Development impacts

  • Local economic growth

    The Project will create about 90 new additonal jobs in Jinja and Kisoro factory, offices & boat and up to 150 people at the Kisoro & Moroto quarry site;

    Next to this the Project will indirectly employ over 40 people at the Kisoro quarry site (people are paid by AML for every ton of lime stone quarried). For the Moroto site, the Company will employ directly an additional 108 persons (in addition the 84 persons that are now employed indirectly, will be employed directly by AML. This guarantees the production of raw material and insures that proper conditions are upheld.

  • Private sector consolidation/innovation

    The Company will introduce a new technology & know how in the production of high quality quick /hydrated lime; The Project will introduce water transport to Uganda. About 12 people will be trained in marine navigation and related aspects

    Regional diversification: This project will be the first industrial activity to be established in Moroto and Karamoja Region at large. It will provide a pull effect for other socio-economic activities. It is the least developed region of Uganda.

View more of our investments in this region

The Currency Exchange Fund n.v.

Financial Institutions

The Currency Exchange Fund n.v.

  7,091,000.00

  Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

  05/09/2007

  Equity

Bank of Africa Group S.A.

Financial Institutions

Bank of Africa Group S.A.

  1,954,160.00

  Benin, Burkina Faso, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Madagascar, Mali, Niger, Rwanda, Senegal, Tanzania, Uganda

  30/03/2011

  Equity

Agri-Vie Fund II

Investment Companies & Funds

Agri-Vie Fund II

  350,000.00

  Kenya, South Africa, Tanzania, Uganda, Zambia

  23/11/2020

  Subsidy

Phatisa Food Fund 2

Investment Companies & Funds

Phatisa Food Fund 2

  5,767,300.00

  Ghana, Kenya, Malawi, South Africa, Tanzania, Uganda, Zambia

  29/01/2021

  Equity

Electrical Controls and Switchgear Ltd.

Enterprises

Electrical Controls and Switchgear Ltd.

  725,111.00

  Uganda

  27/01/2015

  Debt

Grofin East Africa Fund LLC.

Investment Companies & Funds

Grofin East Africa Fund LLC.

  2,211,000.00

  Kenya, Rwanda, Tanzania, Uganda

  25/01/2006

  Equity

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  350,000.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  23/11/2020

  Subsidy

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  2,000,000.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  17/12/2020

  Equity

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  5,743,220.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  23/12/2020

  Equity

African Rivers Fund III

Investment Companies & Funds

African Rivers Fund III

  1,500,000.00

  Democratic Republic of Congo, Uganda

  01/09/2020

  Equity

African Rivers Fund III

Investment Companies & Funds

African Rivers Fund III

  6,113,520.00

  Democratic Republic of Congo, Uganda

  01/09/2020

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  350,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  07/04/2020

  Subsidy

EFC Uganda

Financial Institutions

EFC Uganda

  16,144.00

  Uganda

  18/12/2019

  Subsidy

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  21,757.30

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  12/11/2019

  Subsidy

Frontier Energy II

Investment Companies & Funds

Frontier Energy II

  8,151,000.00

  Kenya, Rwanda, Tanzania, Uganda

  21/03/2018

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  3,000,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  24/10/2019

  Equity

ARPE Ltd.

Infrastructure

ARPE Ltd.

  8,236,550.00

  Uganda

  07/12/2016

  Debt

EFC Uganda

Financial Institutions

EFC Uganda

  285,933.00

  Uganda

  28/09/2016

  Equity

EFC Uganda

Financial Institutions

EFC Uganda

  1,000,000.00

  Uganda

  23/03/2018

  Equity

African Rivers Fund

Investment Companies & Funds

African Rivers Fund

  4,118,275.00

  Democratic Republic of Congo, Uganda

  02/02/2016

  Equity

Rwimi EP Company

Infrastructure

Rwimi EP Company

  9,426,443.00

  Uganda

  29/07/2015

  Debt

Africa Renewable Energy Fund

Investment Companies & Funds

Africa Renewable Energy Fund

  8,896,000.00

  Ghana, Kenya, Senegal, Uganda, Zambia

  30/10/2014

  Equity

Beyond the Grid Solar Fund

Investment Companies & Funds

Beyond the Grid Solar Fund

  4,175,007.50

  Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Uganda

  26/10/2017

  Debt

Agri-Vie Fund II

Investment Companies & Funds

Agri-Vie Fund II

  6,552,700.00

  Kenya, South Africa, Tanzania, Uganda, Zambia

  20/01/2017

  Equity

Ethos Mezzanine Partners 3

Investment Companies & Funds

Ethos Mezzanine Partners 3

  8,868,980.00

  Burundi, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda, Zambia

  13/06/2019

  Equity

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  4,169,100.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  18/04/2019

  Equity

7 Hills

Enterprises

7 hills

  77,000.00

  Uganda

  05/10/2006

  Subsidy