Quick Facts

Where the impacts of the investment may be experienced.
  • Kenya
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: A
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.
Board Decision Date: 2016-07-12
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Base Titanium Ltd
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
Investment Amount (USD): $ 0.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 0.17 MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-12-25

Project Description
WHO IS OUR CLIENT Base Titanium Ltd. is a wholly owned subsidiary of Base Resources Ltd., an Australian Securities Exchange (ASX) and Alternative Investment Market (AIM) listed resources developer, with a portfolio of assets in Africa. Its leading project is the USD 305 million Kwale Mineral Sands Project in the South East of Kenya. FUNDING OBJECTIVE The aim of this project is to support local communities and strengthen their livelihoods, in this case, specifically through supporting the redevelopment of the cotton supply chain in Kwale County, Kenya. The broad intention of this initiative is to reinvigorate smallholder interest, technical capacity and, through time, the scale needed for the community to compete successfully in this global industry. WHY WE FUND THIS PROJECT The project is highly aligned with FMO's strategy, particularly in terms of economic and inclusive development. In addition, agriculture is a core sector for FMO, and although in this instance the core client is a mining company, this project represents a very good opportunity to contribute to supporting smallholder farmers in a value chain that is very important to the Kenyan and East African economy.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents