Japanese investors have ramped up their project finance commitments in Africa by a staggering 576% over the last five years, according to a new research by global law firm Linklaters.
Societe Generale, one of the largest European financial services groups, has revealed plans to acquire a stake in Mauritius Commercial Bank Mozambique (MCBM), subject to the approval of the Central Bank of Mozambique.
The Public Investment Corporation (PIC), which is managing assets of the Government Employees Pension Fund, Africa's largest pension fund, has invested ZAR1bn ($81m) to acquire stakes in two solar power projects in South Africa.
The number of ultra-high net worth individuals, those with at least $30m in assets, in Africa will increase by 59% over the next 10 years, according to The Wealth Report 2015, compiled by Knight Frank with support from Standard Bank Wealth and Investment.
The Hungarian Export-Import Bank (Eximbank) will contribute €3m ($3.18m) to the EU-Africa Infrastructure Trust Fund, according to Hungary’s Minister of External Economy and Foreign Affairs, Péter Szijjártó.
The Mauritius Commercial Bank (MCB) is focused on securing new business across the African continent and engaging in organic growth by increasing cross-border financing and entering into regional ventures, strategic partnerships or alliances, according to Raoul Gufflet, Head of MCB’s International division.
IFC, a member of the World Bank Group, will be providing a $37m (ZAR455m) loan to support a new solar thermal electricity power facility in South Africa’s Northern Cape region.
The Government Institutions Pensions Fund (GIPF), the biggest pension fund in Namibia, is on the lookout for private equity and venture capital funds with Namibia-only mandates to allocate up to 3.5% of its investment portfolio.
The International Monetary Fund (IMF) has launched a multi-donor trust fund to deliver capacity development in Somalia.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has announced its support of the Tunisia Credit Guaranty Facility (TCGF) in partnership with leading Tunisian financial institutions Amen Bank, ATB and Attijari Bank.
AfrAsia Bank’subsidiary, AfrAsia Bank Zimbabwe, has ceased its banking operations in the country to refocus on profitable business lines.
The Abraaj Group, the European Bank for Reconstruction and Development (EBRD), DEG and PROPARCO have formed the North Africa Hospital Holdings Group (NAHHG), a healthcare investment platform to enhance the quality and accessibility of healthcare in Egypt and Tunisia.
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), has signed an agreement with the African Export-Import Bank (Afreximbank) to cooperate in the development of the private sector in ICD member countries in Africa.
Ecobank Group CEO Albert Essien urged investors to be prepared to engage with African countries on a long-term basis and avoid abrupt changes in investment focus because of perceived instability in certain markets.
