The $181bn New York State Common Retirement Fund is considering investing up to 2 to 3% of assets across all sectors of the portfolio in Africa over the next five years, Matthew Sweeney, Assistant Communications Director at the Office of New York State Comptroller Thomas P. DiNapoli, has said.
IFC, a member of the World Bank Group, has announced that it will invest in Marina Market, Burkina Faso’s supermarket chain, to support the company’s operations and expansion.
Societe Generale will allocate nearly €4bn ($4.34bn) of additional capital to Africa by 2016, aiming to accelerate its revenue growth to approximately 7% per year, according to the French banking group’s strategic plan.
German development finance institution DEG along with four other European investors have contributed around $60m to Vantage Capital’s third mezzanine fund.
The Government of the Republic of Côte d’Ivoire and the Islamic Corporation for the Development of the Private Sector (ICD) have signed an agreement to setup a CFA 300bn Sukuk Program.
Fairfax Financial Holdings, a Toronto-based financial services holding company, has acquired a 7.15% stake in Africa Reinsurance Corporation (Africa Re) for $61m.
Russian authorities are looking to strengthen economic ties with Sub-Saharan Africa by increasing Russian business and trade, according to the annual executive meeting held by the Coordinating Committee for Economic Cooperation with Sub-Saharan Africa (AfroCom).
Canada and Burkina Faso have signed a foreign investment promotion and protection agreement (FIPA) to protect Canadian businesses and provide new investment opportunities.
IFC, a member of the World Bank Group, and the Japan International Cooperation Agency (JICA) will streamline lending procedures for joint investments to provide much-needed financing to private companies in emerging markets and boost economic growth and jobs.
Citi Senegal granted Microcred Senegal, a regulated deposit–taking microfinance institution in Senegal, a loan of $2.5m (FCFA 1.45bn) to drive and promote the development of the microfinance sector in Senegal.
IFC, a member of the World Bank Group, will lend up to €90m ($94.96m) to support Afriflora Group, a large-scale rose grower and distributor based in Ethiopia.
IFC, a member of the World Bank Group, has invested $13.5m in the West Africa Ventures Fund (WAVF) to promote food security, economic recovery and job creation in Liberia following the protracted Ebola crisis.
The Dutch development bank FMO has closed a R100m ($8.39m) 4-year senior LCY loan with Rand Trust Financiers (RTF), a specialist debtor finance and debtor administration business with a 100% focus on SME’s in South Africa.
AVIC International, Industrial & Commercial Development Corporation of Kenya and the Co-operative Bank of Kenya, have provided $155m of funding in debt and equity in Two Rivers Development, a project of Centum Investment Company.
