Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Kenya
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Proposed
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower or Client: HALTONS LIMITED
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Education and Health
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Share This Page

 

Contact Us

Do you have more information on
this project, or want to get involved?
Contact EWS

Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-10-21
Haltons
IFC-38693

Project Description
Haltons Limited ("Haltons") is a retail pharmacy chain dispensing prescription and non-prescription pharmaceutical products operating in Kenya. The company has retail outlets located mostly in high traffic residential estates capitalizing on volumes created by health care medicine prescribers to the middle-income consumer. Most of the stores offer a wide range of products as well as health checks such as blood pressure, blood sugar, Blood cholesterol levels and advice on management of blood pressure, gout and diabetes. Haltons is currently operating 52 shops and is looking at rolling-out additional pharmacy outlets, targeted at the underserved middle to low income market, and build a central warehouse and distribution center (the 'Project').In just under 5 years, Haltons has grown exponentially from 2 to 52 outlets in Kenya, on the back of financial and operational support from Fanisi Venture Capital Fund ('Fanisi'), an IFC investee fund and its promoters - Paradigm Holdings, which represents the interests of founder Dr Louis Machogu and Mary Ngige. The total Project cost is estimated to be $10.0m. IFC has proposed a C-Loan of up to $3 million in Haltons, to make up most of the project shortfall.
Investment Description
Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/