📋 Tender Overview
Project Number
49212
Company Name
MENEMA GUINEE SARL
Date ESRS Disclosed
Mar 3, 2025
Country
Guinea
Region
Africa
Last Updated Date
Environmental Category
B
Status
Pending Approval
Sector
other
Industry
other
Department
Regional Industry - MAS Africa
Description: Project Description
The proposed investment is a debt investment of EUR9.2 million split between IFC A Loan and IDA-PSW to support the expansion of Menema Guinée ( Menema or the Company ), a company operating in Guinea that produces mattresses, plastic consumer goods, and wooden furniture. Menema has an existing facility, covering an area of 10288,21 square meters, located in the agro-industrial area of Meneah in the district of Coyah. The key operations at the current facilities include production of mattresses and plastic consumer goods using injection moulding.
The proposed investment from IFC ( the Project ) will finance (a) the expansion of the current facility, which will be dedicated exclusively to the production of plastic consumer goods, through acquisition of new equipment and materials; and (b) a greenfield mattress facility and showroom, in Kassognah, about 20 km from Meneah, with the goal of doubling the current mattress production capacity. The site is a vacant plot of 10,000 Sq m and which was purchased by Menema in 2011 on a Willing Buyer Willing Seller basis. The site is located in a semi-urban area and the nearest sensitive ecosystem eg mangrove forest is located about 5 km away from the project site.
Overview of IFC's Scope of Review
IFC’s E&S review of the proposed investment included (i) site visit to the existing facility in Meneah and proposed location for the greenfield facility in Kassognah in July 2024; (ii) meetings with Menema’s management team - Chief Executive Officer (CEO), General Manager and Operations Directors, Operations manager and internal verification Manager, Human Resource (HR) Manager, Chief Financial Officer (CFO), external relations manager, EHS consultant (HSEC) hired by Menema and Acting EHS manager; and (iii) review of E&S documents and information provided by Menema, including E&S Impact Assessment (ESIA) study dated August 2019 (disclosed together with this ESRS) for its existing facility, terms and conditions (T&Cs) of the environmental license (ref. E&S management plan) and their implementation status, E&S and HR policies, emergency preparedness plan, resource (energy/water/fuel) bills.
