MIGA has provided guarantees, amounting to a combined $677.3m, for international lenders looking to strengthen South Africa’s Land and Agricultural Development Bank (Land Bank), and the Development Bank of Southern Africa (DBSA).
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.
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.
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.
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.
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).
Investec Bank’ s power and infrastructure finance (PIF) division has signed $8m term facility to fund Mettle Solar Investments’ current and future portfolio of commercial rooftop solar project in sub-Saharan Africa.
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).
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.
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).
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.
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.
Ethiopia’s University of Gondar and Canada’s Queen’s University have announced a 10-year, $24.2m partnership to advance inclusive higher education for young people with disabilities in Ethiopia and other African countries.
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.
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.
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.
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.
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.
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.
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.
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.
Ecobank has provided over $248k (£200k) in seed funding to AinFin, a financial technology company that through its product Swifin enables both the banked and unbanked to participate in financial transactions globally.
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.
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.
Stanbic Bank Botswana has arranged a $35m bilateral loan to Botswana based multi-national ecotourism company, Wilderness Safaris, for the purchase of a new ecotourism company in Kenya and for further expansion across Africa.
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, in partnership with Afriland First Bank Ivory Coast, a Pan-African full service bank, have agreed to establish an Islamic Window in Ivory Coast.
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.
IFC, a member of the World Bank Group, has launched MCPP Infrastructure, an innovative program that aims to raise $5bn from global institutional investors to modernize infrastructure in emerging markets over the next five years.
IFC, a member of the World Bank Group, with help from its development partners, has provided advisory services to businesses across the Middle East and North Africa (MENA) to help them grow, create jobs and boost economic development in the region.
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.
Caterpillar, its independent dealers and the company’s philanthropic organization, the Caterpillar Foundation, have announced plans to invest more than $1bn in countries throughout Africa over the next five years.
Standard Bank of South Africa (SBSA), the Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, and Wells Fargo Bank have announced a $300m facility to fund power and infrastructure projects in Africa.
The MasterCard Foundation has committed $5.2m to Root Capital over five years to support early-stage agricultural businesses that generate transformational impact in rural communities in Côte d’Ivoire, Ghana, and Senegal.
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.
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.
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.
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).
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.
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.
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.
CDC Group, the UK’s government-owned development finance institution, committed £186.6m ($246.28m) to six Africa-focused private equity funds and a global fund that invests in Africa and South Asia, in 2015.
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.
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.
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.
CDC Group, the UK’s development finance institution, and LafargeHolcim, have launched 14Trees, a joint-venture that aims to accelerate the production and commercialization of Durabric, an environmentally-friendly, affordable alternative to traditional clay burnt bricks.
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.
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.
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.
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.
IFC has announced its plans to invest up to $30m in Ascendis Health, a South Africa-based fast growing health and care company selling a portfolio of market-leading brands for animals, plants and humans.
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.
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.
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.
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.
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.
Standard Bank Group has completed a $95m equivalent upsizing of the syndicated term loan facilities for Helios Towers Tanzania to finance the next phase of expansion of its network of telecommunications towers across Tanzania.
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.
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.
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.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has announced the opening of OPIC’s first-ever West Africa and Central regional office, located in Abidjan, Côte d’Ivoire.
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.
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.
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.
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.
Convergence has launched the world’s first deal sourcing platform that helps public and private investors find and connect with each other for blended finance investments in emerging and frontier markets.
The Danish government, the Investment Fund for Developing Countries (IFU), PensionDanmark and PKA, have jointly invested $102.28m (DKK 700m) in the Danish Agribusiness Fund, which will back agri projects in developing countries.
The Overseas Private Investment Corporation (OPIC) has announced a $4m financing commitment to Envirofit International, a social enterprise that innovates smart energy products to improve lives on a global scale.
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.
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.
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.
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).
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.
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.
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.
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).
Accion, a global nonprofit organization dedicated to financial inclusion, has announced a UGX 4.8bn ($1.41m) investment in UGAFODE Microfinance (UGAFODE MDI), one of the fastest growing microfinance institutions in Uganda.
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.
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.
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.
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.
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.
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.
IFC, a member of the World Bank Group, has taken an 8% equity stake in Roxgold, a Toronto-based gold exploration and development company, to support sustainable development of the Yaramoko gold mine in western Burkina Faso.
The Public Investment Corporation (PIC) and African Export-Import Bank with participation from other investors, have provided $365m of debt and equity financing to Smile Telecoms Holdings (Smile), a pan-African telecommunications group.
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.
IFC, a member of the World Bank Group, has announced a new financing transaction with Brasserie et Limonaderies du Rwanda to support plans for expanding production of soft drinks and sourcing of maize from local farmers.
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.
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).
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.
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.
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.
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.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has approved over $1bn financing and insurance commitments to support five private sector-led development projects in Africa.
IFC, a member of the World Bank Group, and Chinese multinational construction and engineering company, CITIC Construction have launched a $300m investment platform, CITICC (Africa) Holding, to develop affordable housing in Sub-Saharan Africa.
North Africa attracted 22.2% more FDI projects in 2014 than in 2013, and accounted for slightly more than half (51%) of all African FDI capital inflows, against just 19.1% in 2013, according to EY’s 2015 Africa attractiveness survey.
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.
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.
IFC, a member of the World Bank Group, and the State Secretariat for Economic Affairs, Switzerland have jointly launched the Africa Corporate Governance Program for Nigeria, to support economic and business expansion.
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).
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
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.
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.
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.
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).
IFC, a member of the World Bank Group, and the Japan International Cooperation Agency (JICA) will streamline lending procedures for joint investments to provide much-needed financing to private companies in emerging markets and boost economic growth and jobs.
Citi Senegal granted Microcred Senegal, a regulated deposit–taking microfinance institution in Senegal, a loan of $2.5m (FCFA 1.45bn) to drive and promote the development of the microfinance sector in Senegal.
IFC, a member of the World Bank Group, has invested $13.5m in the West Africa Ventures Fund (WAVF) to promote food security, economic recovery and job creation in Liberia following the protracted Ebola crisis.
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.
AVIC International, Industrial & Commercial Development Corporation of Kenya and the Co-operative Bank of Kenya, have provided $155m of funding in debt and equity in Two Rivers Development, a project of Centum Investment Company.
The UK Green Investment Bank (GIB) has announced a £200m ($296.98m) international green investment pilot program to invest in renewable energy and energy efficiency projects in East Africa, South Africa and India.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Ecobank Group CEO Albert Essien urged investors to be prepared to engage with African countries on a long-term basis and avoid abrupt changes in investment focus because of perceived instability in certain markets.
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.
The European Investment Bank (EIB) and East African-based regional development body, PTA Bank, have jointly launched a €160m ($180.69m) lending initiative to support investment across eastern and southern Africa.
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.
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.
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.
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.
Africa Finance Corporation, an infrastructure focused investment grade rated multilateral development finance institution, has announced the provision of a $25m loan to the Kenya Power and Lighting Company.
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).
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.
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.
Three major European development finance institutions (DFIs) - PROPARCO, FMO and DEG - have signed a 12-year loan facility of $189m with the Aga Khan Fund for Economic Development (AKFED) to support economic and social development in Africa, the Middle East and South and Central Asia.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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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