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 African Development Bank (AfDB) has approved a $50m investment in CEC Africa (CECA) Investments, a multinational power company headquartered in Nigeria and Zambia.
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 the Central Depository and Settlement Corporation (CDSC) Kenya, Central Securities Clearing System (CSCS) Nigeria and Altree Financial Group.
The Arab Bank for Economic Development in Africa (BADEA) has provided a credit facility of $20m to the West African Development Bank (BOAD).
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 European Investment Bank, the European Union’s long-term lending institution, has agreed to provide €10m ($11.35m) to uniBank Ghana to support investment by private business across Ghana.
IFC, a member of the World Bank Group, has invested €10m ($11.20m) in SAB, a developer of banking software, to bolster financial system infrastructures in the Middle East, Africa and Asia.
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.
IFC, a member of the World Bank Group, has announced that it will invest in Marina Market, Burkina Faso’s supermarket chain, to support the company’s operations and expansion.
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.
German development finance institution DEG along with four other European investors have contributed around $60m to Vantage Capital’s third mezzanine fund.
The Government of the Republic of Côte d’Ivoire and the Islamic Corporation for the Development of the Private Sector (ICD) have signed an agreement to setup a CFA 300bn Sukuk Program.
Fairfax Financial Holdings, a Toronto-based financial services holding company, has acquired a 7.15% stake in Africa Reinsurance Corporation (Africa Re) for $61m.
