African Minerals Limited
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
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.
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