IFC, a member of the World Bank Group, and Proparco, a subsidiary of Agence Française de Développement (AFD), have agreed to collaborate more closely to create markets, mobilize private sector investment, and support economic recovery in developing countries in the wake of the COVID-19 global crisis.
MIGA, a member of the World Bank Group, has issued guarantees in support of the construction, ownership and operation of Actis Energy investments in South Africa’s Renewable Energy Sector.
Standard Bank has acquired a 40% stake in the digital fuel management solutions and telematics company Payment24 Group.
The International Fund for Agricultural Development (IFAD) has invested $9m into the Agri-Business Capital (ABC) Fund, a blended capital impact fund.
The European Commission together with FMO, the Dutch entrepreneurial development bank, have scaled up the NASIRA financial guarantee to support small COVID-19 affected entrepreneurs in Africa and EU Neighbourhood.
The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) has approved a $760k grant to Empower New Energy (EmNEW), to develop at least eight small renewable energy projects with capacity ranging from1-10 MW, towards bankability and construction.
A new research paper considers the devastating impact of COVID-19 on the private sector in Africa and argues that development finance institutions (DFIs) are uniquely placed to provide financial support to businesses and lead the eventual recovery.
The Development Finance Institutions (DFIs) of 16 OECD countries, grouped under the DFI Alliance, have announced they will work together to respond to the COVID-19 global pandemic in developing countries.
IFC, a member of the World Bank Group, has announced an investment up to $20m into SPE AIF I, a fund managed by SPE Capital Partners, a newly independent, institutionalized private equity fund manager operating in MENA.
FMO has invested $25m in DPI’s African Development Partners III, a pan-African fund targeting established and growing consumer-focused companies.
African Development Bank has approved a $10m equity investment in Razorite Healthcare Africa Fund 1 (RHAF1) to help improve healthcare infrastructure delivery across the continent.
Finnfund has agreed to invest $1m in Kasha, an e-commerce platform improving women’s access to genuine health, hygiene and self-care products in East Africa.
The European Bank for Reconstruction and Development (EBRD) has provided a €15m loan to Varroc Lighting Systems Morocco that will provide training and employment opportunities for young people in the country.
The African Development Bank (AfDB) has raised a $3bn in a 3-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.