Uganda
Kyoga Ltd.
$2.97 million
Agribusiness
Project Brief
Not Active
MIGA has issued a $2.97 million guarantee to MILLco Limited covering its equity investment in Kyoga Ltd. The guarantee replaces a previous contract (issued in 2005) to Afriproduce of the British Virgin Islands for its investment in Ugandan subsidiary Ugacof. The new guarantee contract reflects the sale of Ugacof’s processing and warehousing facilities to Kyoga Ltd., which is owned by MILLco. The guarantee tenor remains unchanged (expiring in 2010).[1]
The coverage protects against the risks of expropriation, transfer restriction, and war and civil disturbance. The project involves the operation of a coffee processing facility in Uganda.
[1] The guarantee was expired on May 14, 2018.