IFC and MIGA, members of the World Bank Group, have signed an agreement to support the development of a 252-megawatt wind farm by Lekela in Egypt’s Red Sea governorate.
Africa Finance Corporation (AFC), an infrastructure solutions provider in Africa, has financed Aker Energy, a subsidiary of Aker ASA, one of the highest-quality-rated companies in the Norwegian market and a leader in oil, gas and industrials.
Finnish development financier Finnfund has signed a pioneering $5m long-term senior debt financing to Starsight Power Utility group in Nigeria.
African and non-regional donors have pledged $17m to replenish the Africa Solidarity Trust Fund, an initiative which aims to provide food security and eliminate rural poverty on the African continent.
The US Agency for International Development (USAID) has announced $500,000 in funding and $100,000 in technical assistance to the Women's World Banking Asset Management (WAM) blended-finance fund.
AFD and Proparco, with the support of the European Union and the African, Caribbean and Pacific Group of States, have launched EURIZ, a new scheme enabling financial institutions to partially hedge their credit risk.
MTN has pledged R1m to support disaster relief and recovery efforts in KwaZulu-Natal following the heavy rains and flooding that claimed the lives of more than 70 people, and displaced thousands of residents this week.
The Dutch Ministry of Foreign Affairs has renewed the mandate of FMO’s Infrastructure Development Fund (IDF) and topped the fund with €100m.
Dutch development bank FMO has supported the expansion of the fully integrated Yalelo Tilapia farm in Zambia with a $10.5m senior secured loan facility, partly funded by Building Prospects, a high impact fund, managed on behalf of the Dutch government.
The Islamic Development Bank (IsDB), a multilateral development bank, has agreed to contribute $3m to the multi-partner Somalia Infrastructure Fund (SIF).
The European Investment Bank (EIB) has signed a commitment of $15m with the SPE Africa Industrialization Fund I (AIF I), which seeks to contribute to the development of the private sector in North Africa.
The African Development Bank has approved a $20m equity investment in Uhuru Growth Fund 1, a first-generation fund sponsored by Uhuru Partners.
CDC has committed the equivalent of $12.5m to PEG Africa (PEG), a distributor of solar home systems (SHS) in the African region.
Mintirho Foundation, Coca-Cola Beverages South Africa’s (CCBSA) foundation, has invested R25m in Hya Matla Organics, an innovative start-up whose core business is turning water hyacinth into viable commercial products such as fertiliser and animal feed.