Kioo Limited glass container manufacturer gets US$10m loan from IFC

TANZANIA – Tanzania glass container manufacturer, Kioo Limited has acquired a US$10 million working capital loan from the International Finance Corporation (IFC). Kioo is wholly owned by African Developments Limited an associate of the Madhavani Group, based in Uganda and is one of the leading business groups in East Africa with interest in Uganda, Rwanda, Tanzania, the Middle East and India. According to reports by Africa Private Equity News, the loan will go towards long-term working capital funding, and necessary equipment maintenance and upgrades, to help mitigate the impact of…

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