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.
The African Development Bank, the European Commission, KfW, the Clean Technology Fund, Norfund, and other investors have committed nearly $160m to the first close of the Facility for Energy Inclusion (FEI).
The African Development Bank has approved a €12m stake in the capital of the Yeelen fund, a 12-year investment fund domiciled in Mauritius and Lomé.
Africa Finance Corporation has announced a $63m strategic investment to construct and operate a 60MW wind project in the Ghoubet area, near Lake Assal in Djibouti.
The European Investment Bank (EIB) expects to significantly increase engagement in both Sub-Saharan and North Africa and to provide €4bn to support public and private investment across the continent in 2020.
FMO has recently invested $2.8m into Acumen’s Pioneer Energy Investment Initiative (PEII), surpassing the PEII’s goal of raising US$20m to bridge the funding gap in off-grid energy and accelerate energy access across the developing world.
IFC, a member of the World Bank Group, has announced a $24m in financing, including a $12m C loan for IFC’s own account and a mobilization of a $12m B loan through IFC’s syndication program, to Zalar Agri, one of Morocco’s leading fruit producers.
