JAT Africa Project The proposed investment consists of senior loan package up to USD35 million (mn) to Jubaili Holding for Investments SAL (Jubaili or the Company), the holding company of a leading importer, distributor and formulator of agrochemicals in Africa (the Group). The Group was established in 2002 by the Jubaili Family in Nigeria and expanded its geographical footprint to Ghana (2014), Uganda (2015), Tanzania (2016) and Kenya (2017). As of June 30, 2021, the Group employs over 2,300 people and sells to over 3,000 retailers, wholesalers, farmers and dealers through 80 outlets in the five operating countries. Jubailis investment plans include (i) capacity expansion plans in Nigeria, Ghana, Uganda, Tanzania and (ii) permanent working capital needs (the Project). Project level Impact: 
(i) Economywide effects: The Project will expand the Groups production capacities and allow the Group to source more inputs from local suppliers, which will support domestic value addition and associated job creation. Using IFCs economic impact assessment framework, we estimate that the project will lead to an average increase in annual GDP of US$217 million across the target countries, of which about US$26 direct value added, and US$192 indirect value added, as well as the generation of 1,600 direct jobs and 7,150 new indirect jobs. 
(i) Stakeholders - Increased outreach of distributors and retailers to smallholder farmers:  The Project will improve the Groups outreach to smallholder farmers through an expansion in its distribution networks in Nigeria and beyond. Specifically, scaling up blending and packaging operations will allow the the Group to increase the number of distributors and retailers reached by 7,200, in all turnover categories, from key accounts to medium and large agri-dealers to small-size retailers, not excluding the farmers that may be reached through market days or other training and extension services. The distributors will be strategically located, offering coverage across the individual countries, and increasing proximity to the customers, while also generating market intelligence for the Group. Further, the Group will be investing in ERP and warehouse inventory management systems, in the hope to enhance real time inventory management and, going forward, to experiment with digital and direct delivery models. 

Market level impact: 
(i) Competitiveness - Triggering new product offerings and supporting greater domestic value addition: IFC expects the Project, through the demonstration and replication channel, to contribute to increasing competitiveness of the crop protection sector in sub-Saharan Africa, through a first-mover company that will start local manufacturing of a select range of reliable herbicides in Ghana, Uganda, and Tanzania, and encouraging other companies to follow its lead and bring the production of quality crop protection closer to its final beneficiaries. The proposed investment will showcase the potential of domestic vertical integration in the crop protection industry in sub-Saharan Africa, and in particular spearhead a replicable business model for the crop protection sector in Anglophone West and East Africa. Market effects will play out through the example of a distributor company that evolves into a local manufacturer, thereby increasing its margins  as has been proved to be the case with the Groups Nigerian operation  and steadily broadening up its market share. The Groups strategy aims to shape the market, not only building on a regularly growing manufacturing base, in order to reduce costs and possibly attain economies of scale, but also enhancing its capacity development of retailers, both directly and indirectly through training of trainers and multimedia and digital content platforms.