Guinea: NedBank Tier II-01/Kintinian

Date Filed
27 Apr 2017
Status
Open
Phase
Dispute Resolution (DR)
Country
Guinea

Case Tracker

Eligibility
Eligibility
Assessment
Assessment
Dispute Resolution
Mediation
Compliance
CURRENT Status
Mediation (DISPUTE RESOLUTION)

Complaint Overview

Complainant

Local community members.

Concerns

Forced displacement from land, compensation, livelihood concerns.

Cross-Cutting Issues
Risk Management Resource Efficiency Community Health and Safety Land Resettlement Land Water Women Coercion Violence / Abuse Loss of Livelihoods Access to Information Policy Social Order / Conflict Private / Personal Property Damage

Project Information

Region
Africa
Institution
IFC
Name & Number
Nedbank 26014
Company
Nedbank Group Ltd
Sector
Financial Markets
Department
Global Practice - Finance & Markets
Category
FI
Commitment

Debt up to ZAR1billion ($139 million equivalent)

Synopsis

Project Overview

IFC had an active project with Nedbank involving a ZAR 1 billion loan equivalent to USD$139 m. According to IFC, the project aimed to facilitate Nedbank's longer-tenor lending programs for: i. black economic empowerment financing, resulting in significant ownership transfer to previously disadvantaged individuals and communities; ii. development and mortgage financing for the underserved affordable housing segment; and iii. cross-border corporate lending across Africa, including capital-intensive projects supporting sustainable economic growth.

La Société AngloGold Ashanti de Guinée S.A (SAG) is a subsidiary of AngloGold Ashanti, an IFC sub-client.

Complaint

In April 2017, CAO received a complaint submitted by local community members neighboring the expansion of Siguiri's gold mine in Guinea with the support of the following civil society organizations: Centre de Commerce International pour le Développement (CECIDE), Les Mêmes Droits Pour Tous (MDT), and Inclusive Development International (IDI).

The complaint raises concerns about the failure to adequately compensate local community members and implement sufficient measures to restore their livelihoods following the resettlement process conducted by La Société AngloGold Ashanti de Guinée S.A. (SAG) in 2015, during the expansion of the Siguiri gold mine in Guinea into the region where the complainants formerly resided (Area One).

CAO Action

In June 2017, CAO found the complaint eligible and conducted an assessment. During the assessment, CAO visited Guinea and discussed options for addressing the complaint with the parties. The complainants and IFC’s sub-client, SAG, expressed their interest in meeting and exchanging information about the issues raised in the complaint, and to discuss the next steps.

In April 2018, the parties agreed to start a dispute resolution process and decided to keep the process confidential. The first joint meeting between the parties took place in July 2018 in Dakar, Senegal. During that meeting, the complainants presented their views on the social and economic impacts of their resettlement, providing SAG with their expectations for redressing the grievances raised in the complaint.

Subsequent meetings were held in October 2018 and February 2019, where the parties reached and signed agreements related to water and schooling, two of the issues in mediation. They further agreed to expedite the implementation of these two agreements collaboratively.

In May 2019, agreements encompassing compensation, livelihood, human rights, consultation, and information were reached between the parties. Subsequent agreements were reached in August 2022 concerning market and rental allowances, in October 2023 for a health post, and in February 2024 for roads.

The parties agreed to keep the above-mentioned interim agreements confidential and to publish only the final comprehensive settlement agreement once reached.

Status

The case is currently under dispute resolution. Status as of February 14, 2024.

Case Documents

  • Complaint
    CAO Complaint with annexes - Guinea - NedBank Tier II-01
    Apr 01, 2017
    English
    CAO Complaint with annexes - Guinea - NedBank Tier II-01
    Assessment Report(s)
    CAO Assessment Report - Guinea - Nedbank -01
    Dec 01, 2017
    English
    CAO Assessment Report - Guinea - Nedbank -01
    CAO Assessment Report - Guinea - Nedbank -01
    Dec 01, 2017
    Français
    CAO Assessment Report - Guinea - Nedbank -01
    IFC Formal Response to CAO Assessment - Guinea - Nedbank 01
    Jan 04, 2018
    English
    IFC Formal Response to CAO Assessment - Guinea - Nedbank 01
  • Dispute Resolution

    Agreement(s) & TORs
    Joint Statement, Guinea Nedbank-01
    Apr 21, 2018
    English
    Joint Statement, Guinea Nedbank-01
    Joint Statement, Guinea Nedbank-01
    Sep 20, 2018
    English
    Joint Statement, Guinea Nedbank-01
    Joint Statement, Guinea Nedbank-01
    Feb 25, 2019
    English
    Joint Statement, Guinea Nedbank-01
    Independent Expert Terms of Reference
    Feb 21, 2020
    English
    Independent Expert Terms of Reference
    Independent Expert Terms of Reference
    Feb 21, 2020
    French
    Independent Expert Terms of Reference
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