Canada’s Fairfax Financial Holdings has entered into an agreement with Zurich Insurance Company to acquire 100% of its South African and Botswana operations, Zurich Insurance Company South Africa (ZISCA).
Global reinsurer Swiss Re has acquired a 25% stake in Leadway Assurance Company, one of Nigeria’s leading insurers.
CDC, the UK’s development finance institution, has announced a €50m ($55.51m) equity investment in Africa Internet Group (AIG), the parent company of Jumia, Africa’s leading e-commerce firm.
Proparco, a private sector financing arm of the French Development Agency, has provided a guarantee to a mutual fund on the BRVM to promote the development of financial markets in West Africa.
Barclays Africa has announced plans to raise R1.3bn to fund loans to small and medium enterprises (SMEs), Independent Online reported on Tuesday, July 5.
Africa Finance Corporation (AFC) has acted as lead arranger for an up to $425m senior mezzanine facility for New Age African Global Energy (New Age), a privately held oil & gas exploration, development, and production company with assets primarily across Sub-Saharan Africa.
The Public Investment Corporation (PIC) has partnered with Isibonelo Property Services on the construction of Tshwane Regional Mall (TRM) in Denneboom, Mamelodi in South Africa that commenced in June 2016.
CDC Group, the UK’s development finance institution, and LafargeHolcim, have launched 14Trees, a joint-venture that aims to accelerate the production and commercialization of Durabric, an environmentally-friendly, affordable alternative to traditional clay burnt bricks.
KfW Development Bank has provided a $150m 15-year loan facility to Africa Finance Corporation (AFC), an international investment grade multilateral finance institution.
Harith General Partners and Africa Finance Corporation (AFC) have merged their power sector assets, expertise and experience to create a new energy entity combining both renewable and non-renewable power generating assets in Africa.
ENGIE, a French multinational electric utility company, has secured over $600m (R9.2bn) in loans for construction of the Kathu Solar Park in South Africa’s Northern Cape.
The need for infrastructure development remains critical, according to Patrick Dlamini, CEO of the Development Bank of Southern Africa (DBSA).
The Chan Zuckerberg Initiative (CZI) has led a $24m Series B round of funding in Andela, a startup that trains tech developers in Africa.
IFC, a member of the World Bank Group, the Overseas Private Investment Corporation, Senegal’s national utility, and ContourGlobal, the project developer, have announced the inauguration of the Cap des Biches power station, which will ease electricity constraints in Senegal by providing power to 100,000 people.
