Mozambique: Merec

IFC in 2003 provided a $2 million partial credit guarantee to Merec Industries in Mozambique. Merec used the funds towards adding a new wheat mill, including grain storage silos, in Beira, northeast of Maputo.

The guarantee enabled Merec to raise a seven-year long-term loan from a local financial institution, thereby also stimulating the local financial sector.

To complement the financing, IFC and Merec is also developing a program to provide advisory services to help local Mozambican bakeries improve quality and production techniques, boost efficiency, and increase sales.


For more information contact:
Houtan Bassiri
Communications Officer
Johannesburg, South Africa
Tel: +27-11-731-3179
Email: hbassiri@ifc.org