The International Monetary Fund (IMF) has launched a multi-donor trust fund to deliver capacity development in Somalia.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has announced its support of the Tunisia Credit Guaranty Facility (TCGF) in partnership with leading Tunisian financial institutions Amen Bank, ATB and Attijari Bank.
AfrAsia Bank’subsidiary, AfrAsia Bank Zimbabwe, has ceased its banking operations in the country to refocus on profitable business lines.
The Abraaj Group, the European Bank for Reconstruction and Development (EBRD), DEG and PROPARCO have formed the North Africa Hospital Holdings Group (NAHHG), a healthcare investment platform to enhance the quality and accessibility of healthcare in Egypt and Tunisia.
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), has signed an agreement with the African Export-Import Bank (Afreximbank) to cooperate in the development of the private sector in ICD member countries in Africa.
Ecobank Group CEO Albert Essien urged investors to be prepared to engage with African countries on a long-term basis and avoid abrupt changes in investment focus because of perceived instability in certain markets.
The Fundo Soberano de Angola (FSDEA), Angola's $5bn Sovereign Wealth Fund, is seeking investments in mining, timber, health and agriculture as it seeks to diversify its asset base and increase returns.
Nation Media Group Staff Retirement Benefits Scheme, through its fund manager STANLIB Kenya, has invested $1m (Sh91m) in Ascent Rift Valley Fund, an East Africa-focused private equity fund.
The West African Development Bank (BOAD) has raised over $198m (XOF115bn) from ECOBANK (Agent Bank), BOA, Banque Atlantique, BGFI, Diamond Bank, BSIC and UBA to support the cotton season in Benin.
IFC, a member of the World Bank Group, and the private sector window of the Global Agriculture and Food Security Program, will invest $9.2m in a program with KCB Bank Rwanda to help Rwandan farmers’ cooperatives gain access to financing and training they need to expand food production.
The European Investment Bank (EIB) and East African-based regional development body, PTA Bank, have jointly launched a €160m ($180.69m) lending initiative to support investment across eastern and southern Africa.
The UK’s development finance institution CDC Group and Standard Chartered Bank have partnered to support new working capital lending of up to $50m to businesses in Sierra Leone.
The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has invested in a maize and wheat-milling operation in Zambia.
Norfund, the Norwegian Investment Fund for Developing Countries, and CDC, the UK development finance institution (DFI), have formed a partnership to boost power generation in Africa by adding at least 5,000 megawatts (MW) of generating capacity over the next 10 years.
