Standard Bank and British International Investment (BII) have partnered with Scatec and H1 Holdings to successfully reach financial close on the first sizable battery energy storage and photovoltaic (PV) solar project in South Africa.
Standard Bank has led the arrangement of a R6bn sustainability-linked term facility and a R800m sustainability-linked working capital facility for Motus, the first ZAR-based sustainability-linked funding in the South African automotive sector.
British International Investment (BII), the UK government’s Development Finance Institution, has announced a $20m, 4-year structured credit investment in Moove, a mobility fintech democratising access to vehicle ownership in Africa.
Bank of America, ARCH Emerging Markets Partners, and Microsoft Climate Innovation Fund have invested $25m in Africa’s first project financing facility for mini-grids, CrossBoundary Energy Access (CBEA).
Proparco, Swedfund and STOA have invested $80m in Serengeti Energy, a Sub-Saharan hydro and solar-specialized independent power producer which develops, constructs, owns and operates grid-connected renewable energy resources in a region that is currently heavily dependent on fossil fuels.
British International Investment (BII), the UK's development finance institution (DFI), has subscribed to a $75m Green Basket Bond arranged by Symbiotics, an emerging markets access platform and financial lender.
Proparco, the private financing arm of Group Agence Française de Développement (AFD Group), has agreed to invest $10m in MUA, a regional insurer with operations in Mauritius, Kenya, Uganda, Rwanda, Tanzania, and the Seychelles.
Shelter Afrique, a pan-African housing finance and development institution has issued its debut ₦46bn ($110.7m) Series 1 Fixed Rate Senior Unsecured Bond Issuance in Nigeria’s capital market under its ₦200bn ($481.3m) bond issuance programme.
IFU and Norfund have invested $27.9m in Continental Blue Investments Ghana (CBI), a producer of cement in Ghana that operates a 550,000 tons p.a. facility outside Accra in southern Ghana.
CDC Group, the UK’s development finance institution and impact investor, has been formally renamed British International Investment (BII).
The European Investment Bank (EIB) has announced an additional €10m through a first-loss equity investment in the Janngo Capital Start-up Fund as a flagship fund of the Boost Africa initiative.
Norfund, the Norwegian investment fund for developing countries, and CDC Group, the UK's development finance institution (DFI), will invest ZAR 600m in H1 Capital (Norfund R360m and CDC R240m) – a South-African black-owned and managed renewables investment and development company.
Bank of America has deployed $5m into the Agri-Business Capital Fund (ABC Fund), a blended-finance impact fund investing in smallholder farmers and small-to-medium sized rural agribusinesses in developing countries to support sustainable and inclusive agricultural value chains.
The African Development Bank has signed a grant agreement for an amount of $400,000 with the Dépositaire Central/Banque de Règlement of the West African Monetary Union (WAMU) to modernize the regional financial market infrastructure.
