IFC, a member of the World Bank Group, has invested $25m in First National Bank Zambia to increase access to finance for small and medium-sized businesses and the agriculture sector in support of inclusive economic growth.
The Trade, Tourism and Investment Office of Peru in the UAE has expanded its geographical remit to include South Africa.
Obviam, an independent investment advisor specialized in long-term investments in emerging and frontier markets, has backed the Apis Growth Fund I with a $10m investment.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has increased its commitment to Root Capital, an agricultural impact investor, to a $50m financing facility.
The Japan International Cooperation Agency (JICA) has signed an agreement for equity participation in the IFC Middle East and North Africa Fund, which targets equity investment in private enterprises in the Middle East and North Africa (MENA) region.
IFC, a member of the World Bank Group, has approved a $175m investment in Olam International, a global integrated supply chain manager and processor of agricultural products operating in 70 countries, to support investment in food processing facilities in Nigeria and India.
CDC Group, the UK’s development finance institution, has committed up to $9m in Virunga Energy, a hydro-electric power business backed by UK charity, The Virunga Foundation, to provide clean electricity to communities living in and around Virunga National Park in North Kivu, Eastern Congo.
The Global Environment Facility (GEF) has approved $18m in funding for projects in Africa co-financed with the African Development Bank (AfDB).
Africa Finance Corporation (AFC) alongside its development partners, has announced the Africa Project Developers Initiative (APDI), a think tank and network to promote and enable project development in Africa.
The Dutch development bank FMO has signed an agreement with Power Africa to spur investment in renewable energy across sub-Saharan Africa.
CDC Group, the UK’s development finance institution, has acquired a 10.68% equity stake in I&M; Holdings (IMHL), a Nairobi-headquartered banking group.
Standard Bank Group has completed a $95m equivalent upsizing of the syndicated term loan facilities for Helios Towers Tanzania (HTT), a subsidiary of Helios Towers Africa (HTA), to finance the next phase of expansion of its network of telecommunications towers across Tanzania.
The future of Africa lies inside Africa, using African resources, and utilizing African markets, African Development Bank President Akinwumi Adesina has said.
Africa Finance Corporation (AFC) has announced that it will invest up to $140m in the Gabon Special Economic Zone (GSEZ), a joint venture vehicle between Olam International, a leading agricultural business, and the Republic of Gabon.
