IFC and MIGA, members of the World Bank Group, have committed $517m in debt and guarantees to support Ghana’s Sankofa Gas Project, an integrated offshore oil and natural gas project.
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 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.
Standard Bank has acquired a majority stake in Firepay, a South African developer of mobile payments technology, for an undisclosed amount.
The African Development Bank (AfDB) has approved a seed equity capital investment of $25m into the African Domestic Bond Fund (ADBF), an enhanced Exchange Traded Fund (ETF) listed in Mauritius.
The French group Meridiam, a long-term private investor in public infrastructure, has completed the financing of a 30MWc photovoltaic centre in Senegal.
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.
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.
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.
Abu Dhabi Fund for Development (ADFD), a national organization owned by the Abu Dhabi government, has secured AED12m ($3.27m) for Algeria’s health sector development.
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.
USAID has announced $4m in new investments to eight companies that are revolutionizing household solar power across Africa through the Scaling Off-Grid Energy: Grand Challenge for Development.
The Global Energy Efficiency and Renewable Energy Fund (GEEREF), a fund-of-funds equally funded by public and private capital, has committed $16.6m to the Catalyst MENA Clean Energy Fund.
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.
