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National Bicycles Company Limited

$0.71 million
Project Brief
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Project Facts

Project Facts

Project Facts

Project ID
Guarantee Holder
Avon Cycles Limited
Investor Country
Project Type
Fiscal Year

In its first guarantee contract issued to an Indian investor, MIGA issued $714,286 in coverage for Avon Cycles Limited (India) for its $1.8 million investment in the privatization and expansion of a bicycle manufacturing plant in Dar-es-Salaam. MIGA insurance covers Avon's investment against the risk of war and civil disturbance.

The project, National Bicycles Company Limited (Nabico), a joint venture with a British holding company, is the only producer of bicycles in Tanzania. The project enterprise will modernize Nabico's production line to reduce operating costs and increase profitability.