Over the next decade Africa’s number of ultra-high-net-worth individuals (UHNWI) will grow by 33%, after suffering a decline of 2% in 2015-16 due to tough market conditions.
The MasterCard Foundation has committed a total of $38.3m to AgDevCo, ICCO Cooperation, and Root Capital for programs to improve productivity and market access for farmers in 11 African countries.
Investec Bank’ s power and infrastructure finance (PIF) division has signed $8m term facility to fund Mettle Solar Investments’ current and future portfolio of commercial rooftop solar project in sub-Saharan Africa.
The African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa (SEFA) has approved a $995,000 grant to the Republic of the Gambia to implement a programme to facilitate private investments in green mini-grids (GMG).
The African Development Bank (AfDB) has approved a $8.2m equity investment in Shelter Afrique, a development finance institution, which invests in affordable housing for Africa.
The National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC), according to the Ministers of Trade and Industry and of Economic Development in South Africa.
IFC has announced an equity investment of CFA franc 1.25bn ($2m) in the West African Economic and Monetary Union’s Caisse Régionale de Refinancement Hypothécaire, the regional mortgage refinancing company (CRRH-UEMOA).
FMO has committed $30m in the senior capital tranche of Frontclear, a financial markets development company focused on catalyzing stable and inclusive interbank markets in emerging and developing countries.
Arise, a collaborative partnership between Norfund, FMO and Rabobank, has approved a $50m bridging loan to dfcu Ltd, a development finance institution in Uganda.
The Ontario Municipal Employees Retirement System, a Canadian pension fund and CI Investments among others have committed to invest $116m in Fairfax Africa, an investment holding company owned by Fairfax Financial Holdings.
Africa Finance Corporation (AFC) alongside other international investors is set to invest $205m in Alufer Mining to fund the development of Guinea-Conakry’s high grade bauxite reserves.
Angola’s sovereign wealth fund, the Fundo Soberano de Angola (FSDEA), has committed to invest $180m in a strategic deep sea port in Angola.
Ethiopia’s University of Gondar and Canada’s Queen’s University have announced a 10-year, $24.2m partnership to advance inclusive higher education for young people with disabilities in Ethiopia and other African countries.
Africa Finance Corporation (AFC), a pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated Sukuk issuance from an African institution.
