The Mauritius Commercial Bank (MCB) is focused on securing new business across the African continent and engaging in organic growth by increasing cross-border financing and entering into regional ventures, strategic partnerships or alliances, according to Raoul Gufflet, Head of MCB’s International division.
IFC, a member of the World Bank Group, will be providing a $37m (ZAR455m) loan to support a new solar thermal electricity power facility in South Africa’s Northern Cape region.
The Government Institutions Pensions Fund (GIPF), the biggest pension fund in Namibia, is on the lookout for private equity and venture capital funds with Namibia-only mandates to allocate up to 3.5% of its investment portfolio.
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.
