Production 2025

York Timbers (Proprietary) Limited – ZAR18.75 million Debt

York is the largest solid wood, lumber and plywood producer in South Africa, with operations centred in two main geographic areas namely; the Highveld operations in Jessievale and Escarpment Operations in Sabie. York Timbers is an integrated forestry company owning and managing pine plantations and operating efficient wood processing plants. This is a strong fit with FMO’s Forestry Strategy. The top-up of FMO’s existing facility will further support York Timbers in reducing its dependency on third-party wood supply, improving cost competitiveness, and upgrading mill processing equipment to lower production costs.

E.V. Assets Management Uganda Limited – $5 million Debt

The objective of FMO’s financing is to fund the Borrower’s investment in electric vehicle batteries and battery swapping station infrastructure across Uganda. The lack of clean and affordable mobility solutions holds back the shift to a green transportation system in Uganda. This transaction addresses this deficiency and aligns with FMO’s Energy and overall strategy. The investment is labeled 100% Green and 100% Reducing Inequalities.

GH2 Industries (Private) Limited – $5 million Debt

GH2 was founded in September 2020 in Lahore, Pakistan, with the purpose of setting up a vertically integrated agri-based manufacturing facility to source (broken) rice and produce rice derivatives for the local and export markets. The transaction promotes a circular business model which is important for sustainability. Also, the transactions will benefit Pakistan economically by increasing exports. Additionally, the project will help create jobs, strengthen food production & security, and will improve farmer livelihoods. GH2’s vision aligns with that of FMO in promoting sustainable rice farming in Pakistan with plans to increase farmer resiliency and limit climate impact. The transaction received a 100% Green Label.

Phuc Sinh Dak Nong Corporation – $3 million Debt

The primary business of Phuc Sinh is in processing and exporting of coffee and pepper (spices) globally. Vietnam is an important global player in the coffee sector as the second largest producer and this sector is a major source of income for the country. The construction of the new coffee processing plant in Dak Nong and the sourcing of raw coffee from farmers in the central highlands of Vietnam will create further economic value locally. In addition, FMO will support Phuc Sinh in the development of a strong corporate governance framework and structure.

Zembo SAS – $1 million Debt

Zembo sells electric motorcycles to drivers, either directly or through third parties, and provides a battery swap (battery-as-a-service, “BaaS”) solution through a network of 29 battery-swap stations. E-boda bodas address the lack of access to affordable public transport and are key to reducing pollution, congestion, and noise resulting from significant urbanization and population growth in Uganda. The FMO Loan enables the provision of affordable E-boda bodas to the Ugandan market and is fully aligned with FMO's strategy. The FMO Loan supports affordable, non-polluting transport.

HPW Fresh & Dry Ltd. – €3 million Debt

HPW is the largest tropical dried fruits (e.g. mango, pineapple, coconut) and snacks processor in West Africa. The company gradually evolved from a fresh fruit trader to a vertically integrated dried fruits and snack manufacturer. An impact-driven profitable company that creates long-lasting effects on the fruit supply chain and job market in Ghana and Ivory Coast – strengthening market access and agronomic techniques for smallholder farmers and farmer organizations while continuously empowering 2,000 local employees via capacity building. The new transaction will create c. 200 jobs in Ghana while contributing to the reduction of food waste, as fresh fruits that are unnecessarily wasted or discarded (because of undesirable appearance) are transformed into dried fruits and snacks. The transaction qualifies as 100% Reducing Inequalities (given the technical support provided to smallholders) and 100% Green.

Mirova Sustainable Land Fund 2 SLP RAIF – €10 million Equity

Mirova Sustainable Land Fund 2 (MSLF2) is a close-ended hybrid fund with a target size of EUR 350mln, recently launched by Mirova. The Fund Manager is Mirova, the impact investment arm of Natixis Investment Managers. By investing in MSLF2, FMO gains diversified exposure to a wide range of countries across the globe in sustainable forestry and agribusiness sectors. This investment is 100% Green label, as MSLF2 is in line with Climate Mitigation and Biodiversity objectives of FMO’s Green Label, supported by international certifications such as the Rainforest Alliance and FSC. The 100% Reducing Inequality label also applies, based on MSLF2's gender approach and its alignment with the 2X criteria at both the fund and portfolio levels.

Dedougou Solaire S.A. – €11.24 million Debt

FMO is investing in Dédougou Solaire SARL (“Dédougou”), an SPV (Special Purpose Vehicle) established under the laws of Burkina Faso. This is a greenfield renewable energy development in a low-income sub-Saharan country. Dédougou provides clean, reliable electricity to a country with one of the lowest electrification rates in West Africa, at a lower cost than current thermal power stations or imported electricity. The FMO Building Prospects Fund investment is highly additional, as there are no commercial banks in Burkina Faso capable of providing financing with the tenor and terms required to make the project viable. This project is among the first true energy IPPs in an emerging economy with limited access to electricity.

Nafoods Group Joint Stock Company – $10 million Debt

NaFoods Group Joint Stock Company (NAF), listed on Ho Chi Minh Stock Exchange, is the leading processor and exporter of tropical fruit products in Vietnam. NAF fits well into FMO’s strategy through its focus on local value creation, local employment creation and supporting economic growth. An additional 50-100 FTEs are expected to be added with the expansion of new processing lines. NAF supports local value creation by exporting processed goods to food manufacturers and retailers, creating employment, generating local tax revenue and hard currency income for Vietnam. The transaction has a 100% Reducing Inequalities label. NAF’s inclusive business model involves close collaboration with farmers in some supply chains, improving livelihoods of participants.

Africa Ren Development - €0.4 million Development Contribution

€2 million from BP as a Development Contribution to DevCo to finance the development of a pipeline of solar projects in the Francophone region of Africa. Of this €2 million, €400k of FMO’s contribution will be used to acquire the rights to Walo and provide the necessary funding to get the project to Financial Close.

Miro Forestry Developments Limited – $0.5 million Equity

Miro specializes in the development and management of high-quality, cost-effective, FSC-certified fast-growing industrial timber species, while also contributing significantly to carbon sequestration efforts. FMO continues to support Miro's impactful work, which drives sustainable socioeconomic development in rural communities across Ghana and Sierra Leone. Risk capital for forestry is also very scarce and FMO is critical to successfully close this shareholder loan round.

Lendable Transportation and Energy Fund SCSp – $10 million Equity Indirect

Lendable Transportation and Energy Fund (“the Fund”, “LTEF”) is a newly created impact-driven fund with an investment focus on SDG13 sectors, including E-mobility, Energy Commercial and Industrial, Clean Cooking, Sustainable Agriculture, and Energy efficiency. Capital will be deployed by providing debt financing to Small and Medium-sized Enterprises (SMEs) and Mid-Market Enterprises (MMEs) in sectors that reduce Green House Gas (GHG) emissions footprints and improve resilience to climate change effects. The Fund is highly aligned with FMO’s strategy to reduce inequalities and is working on meeting the 2X Criteria and supporting initiatives related to SDG13.

Ecofy Finance Private Limited – INR325 million Equity Direct

Ecofy is a non-banking financial institution set up in India in 2022 with a mission to accelerate the country’s green transition. The company provides financing solutions for environmentally sustainable sectors, including retail electric vehicles (EVs), rooftop solar, and SME initiatives focused on improving energy efficiency. Ecofy is building a 100% green portfolio as it exclusively finances climate-positive segments and businesses. Through this, FMO aims to support the decarbonization of energy in India - an essential goal for a rapidly growing economy. In addition, Ecofy now qualifies for the Reducing Inequalities label for its efforts in offering micro loans to individuals often overlooked by traditional lenders, helping more people access financing for green products.

TNB Aura Fund 3 VCC – €0.9 million – Ventures Program 2

Founded in 2017, TNB Aura is a Singapore-based Venture Capital (VC) firm with a presence in Indonesia, Vietnam, and the Philippines. TNB Aura Fund 3 VCC is the third VC fund managed by the firm. The Fund invests into Seed to Series B stage technology and tech-enabled startups in Southeast Asia across diverse sectors and verticals. FMO invests in the TNB Aura fund to support entrepreneurship across Southeast Asia and help scale innovative business models that contribute to the sustainable growth of local economies.

Nile Fresh Pty Ltd – €0.2 mln – Ventures Program 2

Nile is a South African B2B e-commerce platform linking commercial farmers to buyers of fresh produce and input suppliers. The Company delivers a convenient, secure, and transparent trading experience in a largely analogous market with significant inefficiencies and wastage. The online marketplace is supported by services on logistics, payments, and insights to enable seamless transactions. The investment will enable the Company’s growth, further developing the online marketplace for fresh produce and inputs, scaling its operations and exploring additional services. Nile aims to substantially improve the fresh produce value chain, leading to reduced wastage and, ultimately, a more efficient food system.