FMO has committed to invest up to $25m in JCM Power, a Canadian-based renewable energy independent power producer developing and operating renewable energy projects in Africa, Latin America and South Asia.
African Reinsurance Corporation (Africa Re) has joined Africa Finance Corporation (AFC), and become the first multi-lateral financial institution to invest in AFC.
CDC Group has made a bid to acquire a majority stake in Copperbelt Energy Corporation (CEC), a Zambian power transmission, distribution and generation company and a major developer of energy infrastructure in Zambia.
DEG, a German development finance institution and a subsidiary of KfW Group, has invested €4m in M-BIRR, a cashless money transfer and payment service in Ethiopia.
Standard Bank and its 20% shareholder, the Industrial and Commercial Bank of China (ICBC), have backed Mozambique’s Coral Floating Liquefied Natural Gas (FLNG) development.
The African Development Bank has approved $100m investment to the Emerging Africa Infrastructure Fund (EAIF), a Public Private Partnership (PPP) company, to reduce infrastructure gap.
The Swiss Investment Fund for Emerging Markets (SIFEM) has invested €10m in AfricInvest’s Maghreb Private Equity Fund IV, Africa Global Funds has learned.
Africa Finance Corporation and Harith General Partners, acting on behalf of its portfolio company Aldwych Holdings, has announced final close of the merger of their respective electricity generation assets into a new operating company, Anergi Holdings.
Barclays Africa Group Limited (BAGL) and China Development Bank (CDB) have signed a memorandum of understanding (MoU) aimed at strengthening cooperation and exploring opportunities to fund development projects in Africa. Given CDB’s focus on infrastructure finance for roads, railways and dams, Barclays Africa will leverage the MoU to unlock opportunities in order to strengthen its contribution towards Africa’s economic growth and development.
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of IDB Group, and BSIC Niger have entered into an agreement to finance SMEs in Niger.
Finnfund, a Finnish development finance company, has invested $6m in Jumo, a financial services platform providing mobile financial services in emerging markets.
KfW, the German Development Bank, and the African Trade Insurance Agency (ATI) have launched a new instrument to support renewable energy projects in sub-Saharan Africa that targets small- and mid-scale (up to 50 MW) green power renewable energy projects.
Capria, a global investment firm advancing the next generation of local impact fund managers in emerging markets, has agreed to invest in Lateral Capital, a fund manager, operating in Africa, who has joined Capria Network.
The Republic of Benin (Benin) has become the 17th Member State of Africa Finance Corporation (AFC), Africa's infrastructure development finance institution. Benin joins the list of Francophone African States that are currently AFC member countries, which includes Chad, Cote d'Ivoire, Djibouti, Gabon, Guinea-Bissau, and Guinea-Conakry. This development augurs well for the peaceful coastal nation, which serves as an economic gateway to several other West African economies.