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.
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.
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.
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).
Egypt’s Minister of Electricity and Renewable Energy alongside the New & Renewable Energy Authority has 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.
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.
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).
IFC, a member of the World Bank Group, and the IFC Asset Management Company, have invested $27m in Souq, the largest e-commerce platform in the Middle East and North Africa (MENA).
Standard Chartered Bank and the Swedish Export Credit Corporation (SEK), have funded Millicom’s acquisition of an 85% majority stake in Tanzania’s Zantel, a local mobile telecom operator on the island of Zanzibar.
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.
The Public Investment Corporation (PIC) has provided a $55m (R800m) debt funding facility to Allied Mobile Africa, one of the largest integrated supply chain solutions partners supporting operators, service providers and retailers in Africa.
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 Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has committed over $1.6bn to support President Obama’s Power Africa initiative, thus surpassing its initial financing and insurance goals.
