German development finance institution DEG along with four other European investors have contributed around $60m to Vantage Capital’s third mezzanine fund.
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.
Fairfax Financial Holdings, a Toronto-based financial services holding company, has acquired a 7.15% stake in Africa Reinsurance Corporation (Africa Re) for $61m.
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.
Russian authorities are looking to strengthen economic ties with Sub-Saharan Africa by increasing Russian business and trade, according to the annual executive meeting held by the Coordinating Committee for Economic Cooperation with Sub-Saharan Africa (AfroCom).
Canada and Burkina Faso have signed a foreign investment promotion and protection agreement (FIPA) to protect Canadian businesses and provide new investment opportunities.
IFC, a member of the World Bank Group, and the Japan International Cooperation Agency (JICA) will streamline lending procedures for joint investments to provide much-needed financing to private companies in emerging markets and boost economic growth and jobs.
Citi Senegal granted Microcred Senegal, a regulated deposit–taking microfinance institution in Senegal, a loan of $2.5m (FCFA 1.45bn) to drive and promote the development of the microfinance sector in Senegal.
IFC, a member of the World Bank Group, will lend up to €90m ($94.96m) to support Afriflora Group, a large-scale rose grower and distributor based in Ethiopia.
IFC, a member of the World Bank Group, has invested $13.5m in the West Africa Ventures Fund (WAVF) to promote food security, economic recovery and job creation in Liberia following the protracted Ebola crisis.
The Dutch development bank FMO has closed a R100m ($8.39m) 4-year senior LCY loan with Rand Trust Financiers (RTF), a specialist debtor finance and debtor administration business with a 100% focus on SME’s in South Africa.
AVIC International, Industrial & Commercial Development Corporation of Kenya and the Co-operative Bank of Kenya, have provided $155m of funding in debt and equity in Two Rivers Development, a project of Centum Investment Company.
The UK’s development finance institution CDC has invested $15m in Miro Forestry, a sustainable timber business which operates in Sierra Leone and Ghana.
Standard Bank has signed a $250m loan agreement with the Japan Bank for International Cooperation (JBIC) to fund green energy projects in sub-Saharan Africa.
