SAVCA 2017 Case Study Compendium

Investors

IFC and Proparco invest in Moroccan green bond

Author: Africa Global Funds | Date: 2017-06-28

IFC and Proparco, have invested €100m and €35m, respectively, in the first green bond issuance by Banque Centrale Populaire (BCP), to promote sustainable, environment friendly projects in Morocco.

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IFC backs Medical Credit Fund with $4.5m

Author: Africa Global Funds | Date: 2017-06-19

IFC, a member of the World Bank Group, has invested $4.5m in the Medical Credit Fund (MCF), part of the PharmAccess Group, to increase access to quality healthcare in Africa.

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Standard bank provides $120m financing to ZPC

Author: Africa Global Funds | Date: 2017-05-15

Standard Bank has finalised a $120m debt package with Zimbabwe Power Company (ZPC), for the rehabilitation of existing power infrastructure at Kariba South Hydro Power Station and Hwange Thermal Power Station.

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AKFED, IPC, CDC announce new power platform

Author: Africa Global Funds | Date: 2017-04-27

The Aga Khan Fund for Economic Development (AKFED), its industrial and infrastructure development arm, IPS, and CDC Group have launched a joint power platform that will boost power generation in sub-Saharan Africa.

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IFC invests $22m in Bounty Brands

Author: Africa Global Funds | Date: 2017-04-21

IFC has invested $22m to support the expansion of Bounty Brands, a South African platform that sells food, personal care and home care goods in over 40 countries globally.

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SIFEM invests $8m in Catalyst Fund II

Author: Africa Global Funds | Date: 2017-04-17

Obviam has committed $8m on behalf of SIFEM to Catalyst Fund II, a $175m private equity fund that will make investments in SMEs and other fast growing companies in East Africa.

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AFC issues $500m 7-year Eurobond

Author: Africa Global Funds | Date: 2017-04-13

Africa Finance Corporation (AFC), a pan-African multilateral development finance institution and project developer, has issued a $500m 7-year Eurobond.

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FMO invests in Indorama

Author: Africa Global Funds | Date: 2017-04-13

FMO has invested in Indorama Eleme Fertilizer & Chemicals, Sub-Saharan Africa's largest urea fertilizer manufacturer.

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IFC, OFID invests $20m in Metalco

Author: Africa Global Funds | Date: 2017-04-03

International Finance Corporation and the OPEC Fund for International Development (OFID) have invested $10m each in Metalco Industries Company, a Zambian company that recycles metal scrap to manufacture copper cables, lead-acid batteries, aluminum sheets and utensils.

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Norfund backs Ethiopian beef exporter

Author: Africa Global Funds | Date: 2017-03-28

The Norwegian Investment Fund for Developing Countries (Norfund) has announced a $7.4m investment in Verde Beef Processing, an Ethiopian beef producer.

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CDC and AgDevCo in $11.5 Malawian agriculture deal

Author: Africa Global Funds | Date: 2017-03-22

CDC, the UK’s development finance institution, and AgDevCo, a social impact investor targeting sub-Saharan Africa, have invested $11.5m in Jacoma Estates Group to expand its Malawian farming operations.

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OPIC expands existing guaranty to MFX to $120m

Author: Anna Lyudvig | Date: 2017-03-21

MFX Solutions, a Washington D.C. based provider of currency hedging services to impact lenders in developing countries, has received a $120m guarantee increase from the Overseas Private Investment Corporation (OPIC).

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AFC invests in Carbon Holdings

Author: Africa Global Funds | Date: 2017-03-09

Africa Finance Corporation (AFC), a pan-African multilateral development finance institution and project developer, has announced a $25m investment in Egyptian petrochemicals company Carbon Holdings.

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SEFA commits close to $1m to energy access in Gambia

Author: Africa Global Funds | Date: 2017-02-27

The African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa (SEFA) has approved a $995,000 grant to the Republic of the Gambia to implement a programme to facilitate private investments in green mini-grids (GMG).

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AfDB injects $28.2 in Shelter Afrique

Author: Africa Global Funds | Date: 2017-02-23

The African Development Bank (AfDB) has approved a $8.2m equity investment in Shelter Afrique, a development finance institution, which invests in affordable housing for Africa.

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IDC and NEF Merge

Author: Africa Global Funds | Date: 2017-02-16

The National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC), according to the Ministers of Trade and Industry and of Economic Development in South Africa.

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IFC invests $2m in CRRH-UEMOA

Author: Africa Global Funds | Date: 2017-02-16

IFC has announced an equity investment of CFA franc 1.25bn ($2m) in the West African Economic and Monetary Union’s Caisse Régionale de Refinancement Hypothécaire, the regional mortgage refinancing company (CRRH-UEMOA).

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FMO backs Frontclear with $30m investment

Author: Africa Global Funds | Date: 2017-02-14

FMO has committed $30m in the senior capital tranche of Frontclear, a financial markets development company focused on catalyzing stable and inclusive interbank markets in emerging and developing countries.

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Arise invests $50m in Ugandan DFI

Author: Africa Global Funds | Date: 2017-02-14

Arise, a collaborative partnership between Norfund, FMO and Rabobank, has approved a $50m bridging loan to dfcu Ltd, a development finance institution in Uganda.

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Canadian investors inject $116m in Fairfax Africa

Author: Anna Lyudvig | Date: 2017-02-06

The Ontario Municipal Employees Retirement System, a Canadian pension fund, and CI Investments among others have committed to invest $116m in Fairfax Africa, an investment holding company owned by Fairfax Financial Holdings.

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AFC-led consortium in $205m mining deal

Author: Africa Global Funds | Date: 2017-02-06

Africa Finance Corporation (AFC) alongside other international investors is set to invest $205m in Alufer Mining to fund the development of Guinea-Conakry’s high grade bauxite reserves.

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AFC issues first Sukuk

Author: Africa Global Funds | Date: 2017-01-24

Africa Finance Corporation (AFC), a pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated Sukuk issuance from an African institution.

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NSIA and GuarantCo launch InfraCredit

Author: Africa Global Funds | Date: 2017-01-23

The Nigeria Sovereign Investment Authority (NSIA) and GuarantCo, which is part of the Private Infrastructure Development Group (PIDG), have established InfraCredit, an infrastructure credit enhancement facility in Nigeria conceptualized in 2014.

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FMO supports SANAD Fund with $15m

Author: Africa Global Funds | Date: 2017-01-23

The Dutch development bank FMO has invested $15m in the senior tranche of the debt sub-fund in the SANAD Fund for MSME to support small businesses in the Middle East and North Africa (MENA).

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OPIC supports Unreasonable Capital

Author: Africa Global Funds | Date: 2017-01-15

The Overseas Private Investment Corporation (OPIC) has approved up to $5m financing to support Unreasonable Capital Fund I, a venture capital fund that invests in scalable and profitable companies across Latin America, India, Asia, and Africa.

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Letshego acquires afb Ghana

Author: Africa Global Funds | Date: 2017-01-13

Letshego Holdings, an inclusive finance focused group with consumer lending, microfinance and deposit-taking subsidiaries across Southern, East and West Africa, has acquired a 100% shareholding in afb Ghana, a licensed non-bank financial institution.

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PIC to acquire 26.4% of Distell

Author: Africa Global Funds | Date: 2016-12-20

The Public Investment Corporation (PIC) has announced that it will acquire 26.4% of the ordinary shares of Distell Group, a South African producer and marketer of ciders, ready-to-drink beverages, spirits and fine wines.

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IFC and FMO in Mobisol deal

Author: Africa Global Funds | Date: 2016-12-13

IFC, a member of the World Bank Group, and FMO, the Dutch development bank, have invested in Mobisol, a pay-as-you-go solar energy service company, to deliver renewable energy solutions to off-grid communities in East Africa.

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Standard Bank acquires Firepay

Author: Africa Global Funds | Date: 2016-12-09

Standard Bank has acquired a majority stake in Firepay, a South African developer of mobile payments technology, for an undisclosed amount.

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OPIC commits up to $200m to two funds

Author: Africa Global Funds | Date: 2016-12-09

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has approved up to $200m in new financing to two Africa-focused funds.

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MCF gets over $17m from OPIC, Calvert and others

Author: Anna Lyudvig | Date: 2016-12-07

The Medical Credit Fund has raised $17.45m from the Overseas Private Investment Corporation, Calvert Foundation, a private foundation and a Dutch private family office for healthcare impact investments in Africa.

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AfDB commits $10m to TIDE Africa Fund I

Author: Africa Global Funds | Date: 2016-12-01

The African Development Bank (AfDB) has approved a $10m equity investment in the Technology and Innovation in Developing Economies (TIDE) Fund I to boost production and growth in Africa.

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MIGA provides $29.1m guarantee to Tata Power

Author: Africa Global Funds | Date: 2016-11-30

The Multilateral Investment Guarantee Agency (MIGA) has provided a guarantee of $29.1m in support of Tata Power’s equity investment in Itezhi Tezhi Power Corporation in Zambia.

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GCC banks looking to Africa

Author: Africa Global Funds | Date: 2016-11-26

The larger local banks in the GCC are approaching saturation in their home market and are starting to venture out to attractive markets such as Africa.

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IFC invests $20m in Moroccan solar power complex

Author: Africa Global Funds | Date: 2016-11-15

IFC, a member of the World Bank Group, has agreed to invest $20m in ACWA Power Ouarzazate, a developer of the 160 MW NOORo 1 concentrated solar power (CSP) parabolic trough plant in Morocco.

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Stockdale Street to invest in SA hedge fund

Author: Africa Global Funds | Date: 2016-11-11

Stockdale Street, which represents the Oppenheimer family interests’ South African private equity portfolio, has announced a R100m ($6.95m) investment in Senqu Capital, a new South African hedge fund business.

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AfDB commits $20m to Rx Healthcare Fund

Author: Africa Global Funds | Date: 2016-11-04

The African Development Bank (AfDB) has approved a $20m equity investment in Rx Healthcare Fund (RxHF) to help improve healthcare delivery across the African continent.

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OPIC: African ICT sector has significant headroom

Author: Anna Lyudvig | Date: 2016-11-04

Over $200m in OPIC’s commitments to the information and communications technology (ICT) sector are in Africa, representing about 20% of the sector’s portfolio, according to Alex Hadden, Director, Structured Finance & Insurance.

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EFG Hermes Foundation supports Egyptian development

Author: Africa Global Funds | Date: 2016-11-02

The EFG Hermes Foundation has inaugurated newly renovated facilities in Al Makhzan Village in Upper Egypt’s Qena governorate as part of a joint effort with the Kuwaiti Initiative for the Support of the Egyptian People.

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AfDB approves Somalia Infrastructure Fund

Author: Africa Global Funds | Date: 2016-11-01

The African Development Bank Group (AfDB) has approved a framework document for the establishment of the AfDB Multi-Partner Somalia Infrastructure Fund.

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MIGA opens Regional Hub in Senegal

Author: Africa Global Funds | Date: 2016-10-28

The World Bank Group’s Multilateral Investment Guarantee Agency (MIGA) has further increased its commitment to Africa by opening a new Regional Hub in Dakar, Senegal.

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CDC acquires 17.5% stake in Zambeef

Author: Africa Global Funds | Date: 2016-10-19

The UK’s development finance institution CDC Group’s $65m investment into Zambeef Products, Zambia’s largest food processing business, has been approved by regulators.

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FMO finances solar power project in Uganda

Author: Africa Global Funds | Date: 2016-10-11

The Dutch development bank FMO has arranged a $14.7m senior loan for the financing of the 10 MW (14GWh/y) Tororo Solar North PV solar power project in Uganda.

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FMO invests $8m in Social Investments Fund 6.0

Author: Anna Lyudvig | Date: 2016-10-10

The Dutch development bank FMO has closed two debt facilities for a total of $8m to the 10-year debt fund Social Investments Fund 6.0 (SIF 6.0), which backs social enterprises in Sub-Saharan Africa and Latin America.

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AfDB: Nigeria is too big to fail

Author: Africa Global Funds | Date: 2016-10-04

The Nigerian private sector has a critical role to play to help the country come out of the present recession, according to Akinwumi Adesina, African Development Bank’s President.

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OPIC opens third office in Africa

Author: Africa Global Funds | Date: 2016-09-22

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has announced the opening of its first-ever East Africa office, located in Nairobi, Kenya, with Suresh Samuel as Managing Director.

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OPIC supports energy projects in Senegal

Author: Africa Global Funds | Date: 2016-09-21

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has signed two major financing agreements for the development of energy projects in Senegal.

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Proparco commits €10m to Activa Group

Author: Anna Lyudvig | Date: 2016-09-20

Proparco, the private sector financing arm of the French Development Agency, has committed a €10m equity investment in Activa Group to support its development in Sub-Saharan Africa.

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CDC backs African PE funds with $40m

Author: Anna Lyudvig | Date: 2016-09-13

CDC, the UK’s development finance institutions, has recently allocated $20m to EuroMena III, and another $20m to Atlantic Coast Regional Fund II.

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Proparco backs Afrimarket

Author: Africa Global Funds | Date: 2016-09-12

Proparco, the private sector arm of the French Development Agency, has invested €1m to support the development of Afrimarket, a cash-to-goods money transfer company.

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IFC invests $195m in Ghanaian seaport

Author: Africa Global Funds | Date: 2016-09-02

IFC, a member of the World Bank Group, has signed a $667m financing package to increase the container capacity of Ghana’s main seaport, a deal that is expected to trigger increased trade flows and improved transport links across West Africa.

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AfDB approves $100m loan for ETG

Author: Africa Global Funds | Date: 2016-08-30

The African Development Bank (AfDB) Group has approved a 7-year, non-sovereign guarantee, $100m corporate loan to the Export Trading Group (ETG), to finance part of part of the company’s five-year Agricultural Investment Program (IP) in Africa.

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DOB Equity invests in Twiga Foods

Author: Africa Global Funds | Date: 2016-08-26

DOB Equity, a Dutch family office, has acquired a minority stake in Twiga Foods, a mobile-based supply platform for retail outlets, kiosks and market stalls in Kenya.

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CDC to invest $65m in Zambeef

Author: Africa Global Funds | Date: 2016-08-06

CDC, the UK's development finance institution, has agreed to invest $65m in Zambeef Products, one of the largest integrated agri-businesses in Zambia, to refinance company's debt and to settle the RCL Foods put options.

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AfDB invests $9m in FAFIN

Author: Africa Global Funds | Date: 2016-08-04

The African Development Bank has approved a $9m equity investment in the Fund for Agricultural Finance in Nigeria to provide expansion capital to agricultural small and medium-sized enterprises (SMEs).

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Brit makes strategic investment in Camargue

Author: Africa Global Funds | Date: 2016-07-29

Brit Limited, a global specialty insurer and reinsurer, has made a significant strategic investment in Camargue Underwriting Managers, one of South Africa's leading providers of specialized insurance products.

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DEG invests further $14.63m in ZEP-RE

Author: Anna Lyudvig | Date: 2016-07-29

DEG, the German investment and development corporation, has increased its stake in ZEP-RE, an East-African reinsurance company, to 14.93% after investing an additional $14.63m.

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MENA: Private sector is key driver for growth

Author: Africa Global Funds | Date: 2016-07-28

The private sector can be an important driver for growth and rising prosperity in the Middle East and North Africa (MENA), according to a report from three leading international development and financial institutions.

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Rockefeller Brothers Fund backs Lekela Power

Author: Africa Global Funds | Date: 2016-07-28

The Rockefeller Brothers Fund (RBF), a private grantmaking foundation, has injected $10m in Mainstream Renewable Power Africa Holdings, Mainstream’s funding vehicle for the Lekela Power platform.

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OPIC supports Liberian private sector

Author: Africa Global Funds | Date: 2016-07-25

The Overseas Private Investment Corporation, the US Government’s development finance institution, has announced a $20m direct loan to International Bank Liberia (IBL) to support lending in key econominc areas.

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IFC backs SA education provider

Author: Africa Global Funds | Date: 2016-07-20

International Finance Corporation (IFC), a member of the World Bank Group, has acquired a 2.5% equity stake in ADvTECH, a South Africa-based private education provider.

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Africa gets China’s vote of confidence

Author: Africa Global Funds | Date: 2016-07-19

As the bond between Africa and China strengthens, global leaders and investors will follow suit in trusting the opportunities available across the continent.

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AFC issues debut CHF bond

Author: Africa Global Funds | Date: 2016-07-19

Africa Finance Corporation (AFC), a Pan-African multilateral development finance institution and project developer, has issued its debut senior unsecured Swiss Franc (CHF) denominated bond, raising CHF100m with a tenor of 3 years and 150 days.

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IFC makes railway investment in Gabon

Author: Africa Global Funds | Date: 2016-07-18

IFC, a member of the World Bank Group, has agreed to provide €52.5m ($58m) of debt financing to boost the capacity and improve the efficiency of Gabon’s rail network.

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Sarona to receive up to $100m from OPIC

Author: Africa Global Funds | Date: 2016-07-15

The Overseas Private Investment Corporation (OPIC) has approved up to $100m financing to Sarona Frontier Markets Fund 3, a private equity fund of funds managed by Sarona Asset Management.

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GEPF invests over $700m in SA Home Loans

Author: Africa Global Funds | Date: 2016-07-13

The Government Employees Pension Fund (GEPF) through its investment manager Public Investment Corporation (PIC) has announced an investment of R10.5bn ($725m) in SA Home Loans (SAHL), a mortgage finance provider.

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Fairfax acquires ZISCA

Author: Africa Global Funds | Date: 2016-07-08

Canada’s Fairfax Financial Holdings has entered into an agreement with Zurich Insurance Company to acquire 100% of its South African and Botswana operations, Zurich Insurance Company South Africa.

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CDC invests in AIG

Author: Africa Global Funds | Date: 2016-07-06

CDC, the UK’s development finance institution, has announced a €50m ($55.51m) equity investment in Africa Internet Group (AIG), the parent company of Jumia, Africa’s leading e-commerce firm.

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AFC invests $75m in oil & gas producer New Age

Author: Africa Global Funds | Date: 2016-06-30

AFC has acted as lead arranger for an up to $425m senior mezzanine facility for New Age African Global Energy, a privately held oil & gas exploration, development, and production company with assets primarily across Sub-Saharan Africa.

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PIC invests in Tshwane Regional Mall development

Author: Africa Global Funds | Date: 2016-06-29

The Public Investment Corporation (PIC) has partnered with Isibonelo Property Services on the construction of Tshwane Regional Mall (TRM) in Denneboom, Mamelodi in South Africa that commenced in June 2016.

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AFC and Harith merge assets to bring power to Africa

Author: Africa Global Funds | Date: 2016-06-22

Harith General Partners and Africa Finance Corporation (AFC) have merged their power sector assets, expertise and experience to create a new energy entity combining both renewable and non-renewable power generating assets in Africa.

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AFC receives $150m loan from KfW

Author: Africa Global Funds | Date: 2016-06-22

KfW Development Bank has provided a $150m 15-year loan facility to Africa Finance Corporation (AFC), an international investment grade multilateral finance institution.

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IFC, OPIC finance Senegalese power plant

Author: Africa Global Funds | Date: 2016-06-15

IFC, a member of the World Bank Group, the Overseas Private Investment Corporation, Senegal’s national utility, and ContourGlobal, the project developer, have announced the inauguration of the Cap des Biches power station, which will ease electricity constraints in Senegal by providing power to 100,000 people.

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IFC backs GCCredit Opportunities Fund II

Author: Africa Global Funds | Date: 2016-06-06

IFC has invested $25m in GCCredit Opportunities Fund II, a private debt fund, managed by Gulf Capital, one of the largest and most active alternative asset managers in the Middle East.

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IFC to invest in Carbon Holdings

Author: Africa Global Funds | Date: 2016-05-30

IFC will invest $25m in Carbon Holdings, an Egyptian developer and operator of manufacturing projects for downstream petrochemicals required in a range of industries.

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OPIC, REPP support renewable energy projects in SSA

Author: Africa Global Funds | Date: 2016-05-25

The Overseas Private Investment Corporation (OPIC), and the Renewable Energy Performance Platform (REPP) have announced an agreement to facilitate cooperation on renewable energy projects in Sub-Saharan Africa.

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Ecobank and OMEM announce new strategic agreement

Author: Africa Global Funds | Date: 2016-05-20

Ecobank Transnational Incorporated, parent company of the Ecobank Group, and Old Mutual Emerging Markets (OMEM), a member of the Old Mutual Group, have announced a new strategic agreement.

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OPIC backs Beyond The Grid Solar Fund

Author: Africa Global Funds | Date: 2016-05-18

OPIC has approved a $15m loan to a new investment vehicle managed by SunFunder that will provide financing to companies operating in developing countries that manufacture, distribute and install solar lighting and energy systems.

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CDC invests $140m in ARM Cement

Author: Africa Global Funds | Date: 2016-05-15

CDC Group, the UK’s development finance institution, has announced a $140m investment in ARM Cement to boost the local supply of cement in East Africa and promote infrastructure development.

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IFC backs FNB Zambia with $25m loan

Author: Africa Global Funds | Date: 2016-05-04

IFC has invested $25m in First National Bank Zambia to increase access to finance for small and medium-sized businesses and the agriculture sector in support of inclusive economic growth.

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Apis Growth Fund I gets $10m from Obviam

Author: Africa Global Funds | Date: 2016-04-28

Obviam, an independent investment advisor specialized in long-term investments in emerging and frontier markets, has backed the Apis Growth Fund I with a $10m investment.

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OPIC announces $50m investment in Root Capital

Author: Africa Global Funds | Date: 2016-04-27

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has increased its commitment to Root Capital, an agricultural impact investor, to a $50m financing facility.

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IFC lends $175m to Olam

Author: Africa Global Funds | Date: 2016-04-25

IFC, a member of the World Bank Group, has approved a $175m investment in Olam International, a global integrated supply chain manager and processor of agricultural products operating in 70 countries, to support investment in food processing facilities in Nigeria and India.

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CDC Group invests $9m in Virunga Energy

Author: Africa Global Funds | Date: 2016-04-22

CDC Group has committed up to $9m in Virunga Energy, a hydro-electric power business backed by UK charity, The Virunga Foundation, to provide clean electricity to communities living in and around Virunga National Park in North Kivu, Eastern Congo.

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CDC acquires 10.68% stake in I&M Holdings

Author: Africa Global Funds | Date: 2016-04-20

CDC Group, the UK’s development finance institution, has acquired a 10.68% equity stake in I&M Holdings (IMHL), a Nairobi-headquartered banking group.

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Africa Project Developers Initiative launched

Author: Africa Global Funds | Date: 2016-04-20

Africa Finance Corporation (AFC) alongside its development partners, has announced the Africa Project Developers Initiative (APDI), a think tank and network to promote and enable project development in Africa.

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NSIA: Allocation to alternatives proves beneficial

Author: Africa Global Funds | Date: 2016-04-08

The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth funds, has made fewer, but more strategic investments in 2015, according to MD & CEO, Uche Orji.

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AFC contributes $140m to Gabon Special Economic Zone

Author: Africa Global Funds | Date: 2016-04-08

Africa Finance Corporation (AFC) has announced that it will invest up to $140m in the Gabon Special Economic Zone (GSEZ), a joint venture vehicle between Olam International, a leading agricultural business, and the Republic of Gabon.

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IFC supports capital market development in Namibia

Author: Africa Global Funds | Date: 2016-04-06

IFC, a member of the World Bank Group, has launched the first bond by a non-resident issuer in the Namibian capital markets, raising 180m Namibia dollars ($12m) for private sector development in the country.

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AFC delivers 25% growth despite 2015 headwinds

Author: Africa Global Funds | Date: 2016-04-05

Despite a difficult operating environment, Africa Finance Corporation (AFC) has delivered strong underlying operating results, achieving 25% growth in its balance sheet for the 2015 fiscal year.

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SANAD Fund gets €13m from GLS Bank

Author: Africa Global Funds | Date: 2016-04-02

GLS Bank has invested €13m ($14.81m) in the SANAD Fund for MSME, which promotes access to finance for micro, small and medium enterprises (MSMEs) in the Middle East and North Africa (MENA) region.

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MIGA backs Eskom financing with nearly $800m guarantees

Author: Africa Global Funds | Date: 2016-03-30

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has backed loans by international commercial banks to shore up Eskom’s power transmission infrastructure in South Africa.

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FMO invests $5.51m in Bookport CSP

Author: Africa Global Funds | Date: 2016-03-29

FMO has invested R85m ($5.51m) in Bokpoort Concentrated Solar Power (CSP) Project in South Africa, using funding from AEF, alongside DEG and Lereko Metier.

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MasterCard Foundation, icipe invest $10.35m in Ethiopian youth

Author: Africa Global Funds | Date: 2016-03-14

The MasterCard Foundation and the International Centre of Insect Physiology and Ecology (icipe), have announced a $10.35m commitment towards creating employment opportunities for young people through beekeeping and silkworm farming in Ethiopia.

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AfDB injects $8.2m in Shelter Afrique

Author: Africa Global Funds | Date: 2016-02-29

The African Development Bank (AfDB) has invested $8.2m in Shelter Afrique, a Pan-African finance institution exclusively supporting the development of the housing and real estate sector in Africa.

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Centum Foundation backs Elimu TV

Author: Africa Global Funds | Date: 2016-02-24

Centum Foundation has invested an undisclosed amount in Elimu TV, a content provider focused on creating multimedia content for various platforms including online, satellite and digital transmission in East Africa.

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IFC backs Indorama Eleme Fertilizer

Author: Africa Global Funds | Date: 2016-02-19

IFC, a member of the World Bank Group, has invested in Nigeria-based Indorama Eleme Fertilizer Company to support the expansion of the country’s largest fertilizer production facility.

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EIB to expand East African portfolio

Author: Africa Global Funds | Date: 2016-02-16

The European Investment Bank (EIB), the world’s largest international public bank, is looking to expand its portfolio in Kenya and the wider East African region, Africa Global Funds has learned.

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NSIA, IFC to boost investments in Nigeria's health sector

Author: Africa Global Funds | Date: 2016-02-16

The Nigeria Sovereign Investment Authority (NSIA), managers of Nigeria’s Sovereign Wealth Fund, along with IFC, a member of the World Bank Group, are looking to increase investments in the Nigerian health sector.

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OPIC backs Bayport with $250m investment

Author: Africa Global Funds | Date: 2016-02-02

Bayport Management, an emerging market financial services group, has closed a $250m senior debt facility with the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution.

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IFC pumps $6.75m in CIEL Healthcare

Author: Africa Global Funds | Date: 2016-01-27

IFC has agreed to invest $6.75m in Mauritius-based CIEL Healthcare to help the company acquire and operate a chain of hospitals across sub-Saharan Africa.

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MIGA supports Nigeria's Azura-Edo IPP

Author: Africa Global Funds | Date: 2016-01-19

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has announced its support to Azura-Edo Independent Power Producer (IPP) in Nigeria.

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IFC, SocGen invest in Burkina Faso’s cotton company

Author: Africa Global Funds | Date: 2016-01-13

IFC, the Global Agriculture and Food Security Program’ private sector window (GAFSP), and Société Générale have signed an agreement to provide a second €70m trade facility to Burkina Faso’s largest cotton exporter SOFITEX.

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IFC invests in Co-op Bank of Kenya

Author: Africa Global Funds | Date: 2016-01-12

IFC will provide a $105m loan to the Co-operative Bank of Kenya to support lending to small and medium businesses, women entrepreneurs and the housing sector.

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OPIC commits up to $700m in African PE funds

Author: Africa Global Funds | Date: 2016-01-06

The Overseas Private Investment Corporation (OPIC) has approved up to $700m in financing to support investment funds working in Africa with strong opportunity for development impact.

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Proparco invests €15m in Tiba Group

Author: Africa Global Funds | Date: 2016-01-04

Proparco has invested €15m in Egyptian educational group Tiba, which manages six private institutions with a capacity for 20,000 students.

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IFC acquires 20% stake in Sphinx Glass

Author: Africa Global Funds | Date: 2015-12-10

IFC has acquired a 20% equity stake in Egypt-based Sphinx Glass, a key supplier of float glass to Egypt’s construction sector, and a significant regional and international exporter.

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IFC InfraVentures to provide funding for Nigerian solar power project

Author: Africa Global Funds | Date: 2015-12-09

IFC InfraVentures, IFC’s Global Infrastructure Project Development Fund, will provide development funding and commercial and technical support to a developer consortium to co-develop a Nigerian solar power project via the Middle Band Solar One project company.

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Kenya Tea Development Agency receives $55m from leading DFIs

Author: Africa Global Funds | Date: 2015-12-04

IFC, a member of the World Bank Group, in partnership with the Global Agriculture and Food Security Program, PROPARCO, and the Netherlands development finance company FMO, have arranged a $55m loan to the Kenya Tea Development Agency (KTDA).

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China to invest up to R10bn in SA power generation

Author: Africa Global Funds | Date: 2015-12-04

The Industrial and Commercial Bank of China (ICBC) has announced its intentions to invest up to R10bn ($0.69bn) in South Africa's power generation infrastructure, at the FOCAC Heads of Summit in Sandton, Johannesburg.

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Egypt inaugurates the largest wind farm in the Middle East and North Africa

Author: Talita Covre, Egypt Energy Investment Summit | Date: 2015-12-03

Yesterday Egypt’s Minister of Electricity and Renewable Energy alongside the New & Renewable Energy Authority inaugurated the 200 MW Gulf of ElZayt Wind Farm on the west bank of the Gulf of Suez, setting a massive precedent for renewable power development in the region.

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Rwanda and Uganda join AFC

Author: Africa Global Funds | Date: 2015-12-03

Rwanda and Uganda are the first East African countries to become members of Africa Finance Corporation (AFC), a development finance institution for infrastructure projects in Africa.

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OPIC, IFC finance Cap des Biches power plant in Senegal

Author: Africa Global Funds | Date: 2015-12-01

The Overseas Private Investment Corporation, the US Government's development finance institution, and IFC, a member of the World Bank Group, last week signed financing agreements for the 53 megawatt Cap des Biches power plant with project developer ContourGlobal, the Government of Senegal, and Senegal’s national electricity utility to help address growing demand for electricity in the country.

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OeEB invests €10m in SANAD Fund for MSME

Author: Africa Global Funds | Date: 2015-11-18

The development bank of Austria, Oesterreichische Entwicklungsbank (OeEB) has committed €10m ($10.64m) to the SANAD Fund for MSME (micro, small and medium enterprises) in the Middle East and North Africa (MENA).

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StanChart, SEK fund telecom acquisition in Tanzania

Author: Africa Global Funds | Date: 2015-11-17

Standard Chartered Bank and the Swedish Export Credit Corporation have funded Millicom’s acquisition of an 85% majority stake in Tanzania’s Zantel, a local mobile telecom operator on the island of Zanzibar.

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Access invests $20m in Nigerian solar power plant

Author: Anna Lyudvig | Date: 2015-11-11

Access Infra Africa, a pan-African developer, owner and operator of power assets, has signed a joint development agreement with Quaint Global Energy Solutions to invest in the $100m ABIBA Solar Project, a 50 MW solar power plant being developed in Kaduna state.

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MIGA backs Seven Energy with $200m risk guarantee

Author: Africa Global Funds | Date: 2015-10-26

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has invested $200m in Seven Energy International, an independent Nigerian integrated oil and gas development, production and gas distribution company.

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OPIC invests $15m in Lumis to power Nigerian homes and businesses

Author: Africa Global Funds | Date: 2015-10-21

The Overseas Private Investment Corporation (OPIC) has committed $15m to finance Txtlight Power Solutions, doing business as Nova-Lumos (Lumos), an off-grid electricity provider, to scale up a business that provides solar electricity to homes and small business throughout Nigeria.

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OPIC, SolarReserve, ACWA Power to develop SA solar energy facility

Author: Africa Global Funds | Date: 2015-10-20

The Overseas Private Investment Corporation (OPIC) has signed an agreement with US-based energy developer SolarReserve and Saudi Arabia-based ACWA Power, to develop the Redstone Concentrating Solar Power (CSP) project in Northern Cape, South Africa.

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Côte d'Ivoire becomes member of AFC

Author: Africa Global Funds | Date: 2015-10-19

Africa Finance Corporation (AFC), an international finance institution for financing infrastructure projects in Africa, has announced that Côte d'Ivoire has become its latest member.

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Meridiam Infrastructure Africa Fund gets €30m from EIB

Author: Africa Global Funds | Date: 2015-09-30

The European Investment Bank (EIB), Europe’s long-term financing institution, has announced a €30m ($33.51m) investment in the Meridiam Infrastructure Africa Fund, a pan-African fund targeting essential infrastructure projects.

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PROPARCO supports Kenyan tourism with $20m loan

Author: Africa Global Funds | Date: 2015-09-17

PROPARCO has allocated a $20m loan with a 10-year maturity to TPSEA Group, a leading player in East Africa’s tourism industry, to support the development of its infrastructure in Kenya.

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Gabon joins Africa Finance Corporation

Author: Africa Global Funds | Date: 2015-09-01

Gabon has become a member of the Africa Finance Corporation (AFC), after signing the Corporation's Instrument of Accession and Acceptance of membership in Libreville.

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USTDA supports solar project in Tanzania

Author: Africa Global Funds | Date: 2015-08-28

The US Trade and Development Agency (USTDA) has announced its support for a solar project being developed by a Tanzanian company, NextGen Solawazi, at the African Growth and Opportunity Act (AGOA) Forum.

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AfDB supports AccessBank Liberia

Author: Africa Global Funds | Date: 2015-08-10

The African Development Bank (AfDB) and AccessBank Liberia (ABL) have signed a technical assistance partnership agreement to enhance ABL’s reach to micro, small and medium enterprises (MSMEs).

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Africa50 raises $830m from African sovereigns

Author: Africa Global Funds | Date: 2015-07-30

The infrastructure investment platform Africa50 has raised $830m from 20 African countries and the African Development Bank for infrastructure development in the region.

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BOAD seeks to raise $500m in foreign capital markets

Author: Africa Global Funds | Date: 2015-07-27

The West African Development Bank (Banque Ouest Africaine de Developpement, BOAD) is planning to raise $500m in the international financial markets over the final quarter of 2015, according to BOAD’s President Christian Adovelande.

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OPIC to support women-owned SMEs with $100m investment

Author: Africa Global Funds | Date: 2015-07-27

The Overseas Private Investment Corporation (OPIC), the US government’s development finance institution, has announced an intent to lend up to $100m under Goldman Sachs’ Women Entrepreneurs Opportunity Facility (WEOF).

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IFC invests $35m in telecom operator Africell

Author: Africa Global Funds | Date: 2015-07-24

IFC has announced a $35m investment in telecom operator, Africell, to support the expansion and upgrade of mobile networks in Gambia, the DRC, Sierra Leone and Uganda.

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Zambia’s DFI partners with IFC for power projects development

Author: Africa Global Funds | Date: 2015-07-23

The Industrial Development Corporation of Zambia, a domestic development finance institution wholly owned by the Zambian government, has partnered with IFC, a member of the World Bank Group, to explore development of two 50 MW solar PV independent power projects through the Scaling Solar program.

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UK’s Berkshire Fund eyes more Africa investments

Author: Anna Lyudvig | Date: 2015-07-20

The £1.7bn ($2.65bn) Royal County of Berkshire Pension Fund is looking to increase its exposure to developing markets, which by definition will include Africa, according to Nick Greenwood, Pension Fund Manager.

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AfDB backs AFIG Fund II with $45m investment

Author: Africa Global Funds | Date: 2015-07-15

The African Development Bank (AfDB) has approved an equity investment of up to $45m in Atlantic Coast Regional Fund II (AFIG Fund II), a 10-year $300m multi-sector private equity fund.

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PIC increases Vodacom’s ownership to 17.1%

Author: Anna Lyudvig | Date: 2015-07-07

The Public Investment Corporation (PIC), on behalf of the Government Employees Pension Fund (GEPF), has increased its exposure in the mobile telecommunications operator Vodacom by purchasing the Government of South Africa’s 13.91% equity stake.

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IFC invests $25m in Alcazar Energy

Author: Africa Global Funds | Date: 2015-07-07

IFC, a member of the World Bank Group, has invested $25m in Alcazar Energy to help develop and operate a series of renewable energy projects in the Middle East and North Africa (MENA) region, with a focus on solar and wind power plants.

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IFC invests $20m in Agrivision Africa

Author: Africa Global Funds | Date: 2015-06-21

IFC, a member of the World Bank Group, will provide a $20m equity investment in Agrivision Africa, an investee company of the Johannesburg Stock Exchange-listed agribusiness group Zeder Investments.

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AfDB: Tanzania energy sector ripe for investment

Author: Africa Global Funds | Date: 2015-06-18

The renewable energy sector in Tanzania is both awash with opportunities and ripe for investment, Kurt Lonsway, AfDB Division Manager for Environment and Climate Change, has said.

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SWFs allocate more funds to EM infrastructure

Author: Africa Global Funds | Date: 2015-06-16

Demand for emerging markets infrastructure is increasing and changing the nature of sovereign collaboration, according to the Invesco Global Sovereign Asset Management Study 2015.

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African infrastructure business network launched

Author: Africa Global Funds | Date: 2015-06-02

African and top global Chief Executive Officers have launched a Continental Business Network (CBN) to fast-track high-level private sector investment into Africa’s regional infrastructure.

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AfDB supports Egyptian airport development

Author: Africa Global Funds | Date: 2015-05-30

The African Development Bank (AfDB) has signed two loans and a letter of agreement with Egypt worth $140m - $90m from the AfDB window and $50m loan from the Africa Growing Together Fund (AGTF).

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IFC invests $10m in Wamda Capital

Author: Africa Global Funds | Date: 2015-05-30

IFC, a member of the World Bank Group, has invested $10m in Wamda Capital, a venture capital fund that supports promising technology companies in the Middle East and North Africa (MENA) region.

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IFC, Ecobank to finance SMEs in West and Central Africa

Author: Africa Global Funds | Date: 2015-05-26

IFC, a member of the World Bank Group, and Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, have jointly launched a $110m risk-sharing facility that will increase access to finance for small and medium sized enterprises in fragile and conflict-affected states in West and Central Africa.

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Omidyar Network invests in Nigeria's travel and tourism sector

Author: Africa Global Funds | Date: 2015-05-26

Omidyar Network has invested in Hotels.ng, the largest hotel-booking platform in Nigeria, which provides an online marketplace to connect consumers to more than 14,000 small and medium hotels in the country, most with no prior digital presence.

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CDC invests $75m in infrastructure fund

Author: Africa Global Funds | Date: 2015-05-23

CDC Group, the UK development finance institution, has committed $75m to the Pembani Remgro Infrastructure Fund (PRIF), a joint initiative established by Remgro and Phuthuma Nhleko.

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AfDB invests $50m in power company CECA

Author: Africa Global Funds | Date: 2015-05-19

The African Development Bank (AfDB) has approved a $50m investment in CEC Africa Investments, a multinational power company headquartered in Nigeria and Zambia.

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OPIC, Calvert Foundation invest $6.25m in Pamiga Finance

Author: Africa Global Funds | Date: 2015-05-14

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, and the Calvert Foundation have signed financing agreements to expand the lending operations of Pamiga Finance S.A. (PFSA), an impact investment company of the Participatory Microfinance Group for Africa (PAMIGA).

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AfDB invests in Africlear Global

Author: Africa Global Funds | Date: 2015-05-11

The Fund for Africa Private Sector Assistance (FAPA) hosted by the African Development Bank (AfDB) has made a seed equity investment of $400,000 in Africlear Global, a company founded by Central Depository and Settlement Corporation (CDSC) Kenya, Central Securities Clearing System (CSCS) Nigeria and Altree Financial Group

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EIB invests €10m in uniBank Ghana

Author: Africa Global Funds | Date: 2015-05-06

The European Investment Bank, the European Union’s long-term lending institution, has agreed to provide €10m ($11.35m) to uniBank Ghana to support investment by private business across Ghana.

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EIB backs broadband investment in Angola

Author: Africa Global Funds | Date: 2015-05-06

The European Investment Bank has invested €20m ($22.69m) in TV Cabo Angola to provide high-speed internet access for business, private customers and public administration customers in cities across Angola.

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NY Common Retirement Fund eyes Africa investments

Author: Anna Lyudvig | Date: 2015-05-01

The $181bn New York State Common Retirement Fund is considering investing up to 2 to 3% of assets across all sectors of the portfolio in Africa over the next five years, Matthew Sweeney, Assistant Communications Director at the Office of New York State Comptroller Thomas P. DiNapoli, has said.

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SocGen to invest over $4bn in Africa

Author: Anna Lyudvig | Date: 2015-04-24

Societe Generale will allocate nearly €4bn ($4.34bn) of additional capital to Africa by 2016, aiming to accelerate its revenue growth to approximately 7% per year, according to the French banking group’s strategic plan.

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Ivory Coast to issue Sukuk

Author: Africa Global Funds | Date: 2015-04-23

The Government of the Republic of Côte d’Ivoire and the Islamic Corporation for the Development of the Private Sector (ICD) have signed an agreement to setup a CFA 300bn Sukuk Program.

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Fairfax acquires 7.15% stake in Africa Re

Author: Anna Lyudvig | Date: 2015-04-23

Fairfax Financial Holdings, a Toronto-based financial services holding company, has acquired a 7.15% stake in Africa Reinsurance Corporation (Africa Re) for $61m.

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SSA look promising for Russian companies

Author: Anna Lyudvig | Date: 2015-04-22

Russian authorities are looking to strengthen economic ties with Sub-Saharan Africa by increasing Russian business and trade, according to the annual executive meeting held by the Coordinating Committee for Economic Cooperation with Sub-Saharan Africa (AfroCom).

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IFC invests in Ethiopia's Afriflora

Author: Africa Global Funds | Date: 2015-04-14

IFC, a member of the World Bank Group, will lend up to €90m ($94.96m) to support Afriflora Group, a large-scale rose grower and distributor based in Ethiopia.

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FMO enhances access to finance for SMEs in South Africa

Author: Africa Global Funds | Date: 2015-04-09

The Dutch development bank FMO has closed a R100m ($8.39m) 4-year senior LCY loan with Rand Trust Financiers (RTF), a specialist debtor finance and debtor administration business with a 100% focus on SME’s in South Africa.

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PIC takes 40% stake in Eduloan

Author: Africa Global Funds | Date: 2015-03-23

The Public Investment Corporation (PIC), the South African government owned asset manager, has purchased a 40% strategic equity stake in Eduloan, an education finance and bursary management specialist, on behalf of the Government Employees Pension Fund (GEPF).

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SocGen to acquire majority stake in MCB Mozambique

Author: Africa Global Funds | Date: 2015-03-19

Societe Generale, one of the largest European financial services groups, has revealed plans to acquire a stake in Mauritius Commercial Bank Mozambique (MCBM), subject to the approval of the Central Bank of Mozambique.

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PIC invests over $80m in solar power projects

Author: Africa Global Funds | Date: 2015-03-18

The Public Investment Corporation (PIC), which is managing assets of the Government Employees Pension Fund, Africa's largest pension fund, has invested ZAR1bn ($81m) to acquire stakes in two solar power projects in South Africa.

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Hungary plans new African investments

Author: Africa Global Funds | Date: 2015-03-17

The Hungarian Export-Import Bank (Eximbank) will contribute €3m ($3.18m) to the EU-Africa Infrastructure Trust Fund, according to Hungary’s Minister of External Economy and Foreign Affairs, Péter Szijjártó.

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Africans to surge up the ranks of UHNWIs

Author: Africa Global Funds | Date: 2015-03-17

The number of ultra-high net worth individuals, those with at least $30m in assets, in Africa will increase by 59% over the next 10 years, according to The Wealth Report 2015, compiled by Knight Frank with support from Standard Bank Wealth and Investment.

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MCB affirms growing African ambitions

Author: Africa Global Funds | Date: 2015-03-16

The Mauritius Commercial Bank (MCB) is focused on securing new business across the African continent and engaging in organic growth by increasing cross-border financing and entering into regional ventures, strategic partnerships or alliances, according to Raoul Gufflet, Head of MCB’s International division.

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GIPF eyes new PE investments in Namibia

Author: Anna Lyudvig | Date: 2015-03-12

The Government Institutions Pensions Fund (GIPF), the biggest pension fund in Namibia, is on the lookout for private equity and venture capital funds with Namibia-only mandates to allocate up to 3.5% of its investment portfolio.

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OPIC and Tunisian banks to support economic growth

Author: Africa Global Funds | Date: 2015-03-09

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has announced its support of the Tunisia Credit Guaranty Facility (TCGF) in partnership with Tunisian financial institutions Amen Bank, ATB and Attijari Bank.

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Abraaj, DEG, Proparco and EBRD invest $200m in North Africa healthcare

Author: Africa Global Funds | Date: 2015-03-03

The Abraaj Group, the European Bank for Reconstruction and Development (EBRD), DEG and PROPARCO have formed the North Africa Hospital Holdings Group (NAHHG), a healthcare investment platform to enhance the quality and accessibility of healthcare in Egypt and Tunisia.

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Afreximbank and ICD to cooperate in private sector development

Author: Africa Global Funds | Date: 2015-03-02

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), has signed an agreement with the African Export-Import Bank (Afreximbank) to cooperate in the development of the private sector in ICD member countries in Africa.

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FSDEA seeks resources investments

Author: Africa Global Funds | Date: 2015-02-26

The Fundo Soberano de Angola (FSDEA), Angola's $5bn Sovereign Wealth Fund, is seeking investments in mining, timber, health and agriculture as it seeks to diversify its asset base and increase returns.

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NMG Pension Fund commits $1m to Ascent

Author: Anna Lyudvig | Date: 2015-02-25

Nation Media Group Staff Retirement Benefits Scheme, through its fund manager STANLIB Kenya, has invested $1m (Sh91m) in Ascent Rift Valley Fund, an East Africa-focused private equity fund.

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IFC, GAFSP invest $9.2m in KCB Bank Rwanda

Author: Africa Global Funds | Date: 2015-02-16

IFC, a member of the World Bank Group, and the private sector window of the Global Agriculture and Food Security Program, will invest $9.2m in a program with KCB Bank Rwanda to help Rwandan farmers’ cooperatives gain access to financing and training they need to expand food production.

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MIGA backs agribusiness investment in Zambia

Author: Africa Global Funds | Date: 2015-02-03

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has invested in a maize and wheat-milling operation in Zambia.

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Norfund, CDC to boost power generation in Africa

Author: Africa Global Funds | Date: 2015-02-03

Norfund, the Norwegian Investment Fund for Developing Countries, and CDC, the UK development finance institution (DFI), have formed a partnership to boost power generation in Africa by adding at least 5,000 megawatts of generating capacity over the next 10 years.

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World Bank launches 'Scaling Solar' for Africa

Author: Africa Global Funds | Date: 2015-01-30

The World Bank Group has announced the launch of Scaling Solar at the Powering Africa: Summit in Washington DC, a gathering of African ministries, utility companies and the international power community to discuss progress and initiatives to increase access to energy across Africa.

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IFC plans to invest $30m to support SMEs in Guinea

Author: Africa Global Funds | Date: 2015-01-26

IFC, a member of the World Bank Group, plans to invest $30m in Guinea in 2015, boosting support for small and medium enterprises in the country, which are critical for job creation and economic growth.

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ADFD supports infrastructure projects in Swaziland

Author: Africa Global Funds | Date: 2015-01-19

Abu Dhabi Fund for Development ( ADFD ) will provide AED36.73m ($10m) loan to the Government of Swaziland to support its economic and social development through the development of roads and improvement of surface transportation network.

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Egypt represents exciting opportunity for UK investors

Author: Africa Global Funds | Date: 2015-01-14

Egypt is on track to implement a clear road map for political and economic reform and improve the business climate, Ibrahim Mahlab, Prime Minister of Egypt, has said at a symposium organised by the British Egyptian Business Association (BEBA).

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ACEF receives $20m investment from OPIC and USTDA

Author: Africa Global Funds | Date: 2015-01-13

The Overseas Private Investment Corporation (OPIC) and the US Trade and Development Agency (USTDA) have committed $20m to the US-Africa Clean Energy Finance (ACEF), an Africa-focused renewable energy initiative.

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AFC completes $300m fund raising

Author: Africa Global Funds | Date: 2015-01-07

Africa Finance Corporation (AFC), a multilateral development finance institution, has closed a $300m dual tranche (2-Year and 3-Year) club facility arranged by six initial mandated lead arrangers and bookrunners.

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IFC to invest $200m in IHS Nigeria

Author: Africa Global Funds | Date: 2014-12-09

IFC, a member of the World Bank Group, has announced a commitment of $200m to help IHS Nigeria expand its tower portfolio and create mobile phone infrastructure that will improve mobile call service quality for operators and consumers in Nigeria.

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AfDB mobilizes $60m loan to boost cement production in the DRC

Author: Africa Global Funds | Date: 2014-12-09

The African Development Bank (AfDB), Eksport Kredit Fonden, Emerging Africa Infrastructure Fund (EAIF), Habib Bank and International Finance Corporation (IFC) have provided $135m loan facility to Nyumba Ya Akiba Cement project in the Democratic Republic of Congo (DRC).

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PIC and Gazprombank sign cooperation agreement

Author: Africa Global Funds | Date: 2014-12-03

The Public Investment Corporation (PIC), South Africa’s public asset management firm with over R1.6trn AUM ($107bn), and Russia’s Gazprombank have signed a Cooperation Agreement to establish cooperation between the two entities and, where possible, facilitate business cooperation between South Africa and the Russian Federation.

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Injaro secures over $30m investments from European DFIs

Author: Africa Global Funds | Date: 2014-11-21

The UK’s Department for International Development Impact Fund, which is managed by CDC, has announced that it will invest £9.04m ($15m) into Injaro, a West African agriculture-focused fund, which makes sustainable investments into small and medium-sized agricultural enterprises.

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IFC supports Egyptian economy

Author: Africa Global Funds | Date: 2014-11-18

The International Finance Corporation (IFC) is working with the Egyptian government to help rebuild confidence in the Egyptian economy, according to Jin Cai, executive VP and CEO.

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NSSF Uganda projected to grow to $2.2bn by 2017

Author: Africa Global Funds | Date: 2014-10-28

The National Social Security Fund (NSSF) of Uganda is projected to grow to over Shs6 trillion ($2.2bn) by 2017, making it by far the largest fund in East Africa, according to Ivan Kyayonka, NSSF Board Chairman.

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AFC secures $100m loan from OPIC and JP Morgan

Author: Africa Global Funds | Date: 2014-10-23

The Africa Finance Corporation (AFC) has secured a $100m long term loan facility from the US Government’s development finance institution, Overseas Private Investment Corporation (OPIC), and J.P. Morgan’s Corporate & Investment Bank.

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CDC backs two Africa funds

Author: Africa Global Funds | Date: 2014-10-14

CDC, the UK’s development finance institution, has backed two Africa-focused funds, by committing capital of up to €25m ($31.59m) to AfricInvest Fund III (AFIII) and up to $15m to Synergy Private Equity Fund.

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AfDB commits €10m to Moringa PE fund

Author: Africa Global Funds | Date: 2014-10-08

The African Development Bank (AfDB) has approved a €10m ($12.63m) equity investment in the African compartment of the Moringa private equity fund.

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Dangote announces Tanzania investment

Author: Africa Global Funds | Date: 2014-10-06

Nigeria's business magnate Aliko Dangote has announced plans to invest an undisclosed sum in the development of a major coal mine in Tanzania.

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PIC to invest $220m in Africa

Author: Africa Global Funds | Date: 2014-10-03

The Public Investment Corporation (PIC) will spend over $220m (R2.5bn) on African investments in the 2014/2015 financial year, according to PIC’s chairman and Finance Minister Nhlanhla Nene.

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Standard Bank provides $50m funding to Menlyn Maine

Author: Africa Global Funds | Date: 2014-09-30

Standard Bank, Africa’s largest lender by assets and market capitalisation, has provided R566m ($49.97m) development funding to Menlyn Maine Investment Holdings to finance the construction of a mixed-use retail and commercial property in South Africa’s capital city of Tshwane.

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EIB backing for Crane Bank to benefit Ugandan firms

Author: Africa Global Funds | Date: 2014-09-30

The European Investment Bank, Europe’s long term lending institution, will provide €28m ($35.36m) to Crane Bank for onward lending to local firms in both Ugandan shillings and foreign currency.

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SIFEM invests $7.5m in a first-time PE fund

Author: Africa Global Funds | Date: 2014-09-29

The Swiss Investment Fund for Emerging Markets (SIFEM), the Switzerland development finance institution, has committed $7.5m to the Synergy Private Equity Fund.

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NSIA to invest in gas infrastructure

Author: Africa Global Funds | Date: 2014-09-26

Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), has announced that NSIA through its Gas to Power funds managed on behalf of Nigeria’s Debt Management Office is planing to invest at least $100m in aggregate principal amount of senior secured notes due in 2023 to be issued and privately placed by Seven Energy Finance Ltd.

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IFC supports agri-sector in Senegal

Author: Africa Global Funds | Date: 2014-09-25

IFC, a member of the World Bank Group, and the government of Senegal, have developed a program that will help provide access to credit for the agricultural sector and ease the commercialization of agricultural products.

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SIFEM invests additional €1.75m in MPEF III

Author: Africa Global Funds | Date: 2014-09-20

The Swiss Investment Fund for Emerging Markets (SIFEM) has participated in a rights issue of the Maghreb Private Equity Fund III (MPEF) by committing an additional €1.75m.

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OPIC commits $100m to ECP’s Africa Fund IV

Author: Africa Global Funds | Date: 2014-09-19

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has approved a $100m commitment to Emerging Capital Partners’ (ECP) Africa Fund IV, which is focused on promoting economic growth in Africa.

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