IFC, a member of the World Bank Group, will provide $80m of debt financing to Azura Power West Africa, a 450 MW gas-fired independent power project in Nigeria (Azura-Edo IPP).
The Public Investment Corporation (PIC), South Africa’s public asset management firm with over R1.6trn AUM ($107bn), and Russia’s Gazprombank have signed a Cooperation Agreement to establish cooperation between the two entities and, where possible, facilitate business cooperation between South Africa and the Russian Federation.
The UK’s Department for International Development (DFID) Impact Fund, which is managed by CDC, has announced that it will invest £9.04m ($15m) into Injaro, a West African agriculture-focused fund, which makes sustainable investments into small and medium-sized agricultural enterprises.
The International Finance Corporation (IFC) is working with the Egyptian government to help rebuild confidence in the Egyptian economy, according to Jin Cai, executive VP and CEO.
Emerging Crowd, the first crowdfunding and investment platform focused on unlisted growth-stage companies in frontier and emerging markets, was launched in the UK.
The National Social Security Fund (NSSF) of Uganda is projected to grow to over Shs6 trillion ($2.2bn) by 2017, making it by far the largest fund in East Africa, according to Ivan Kyayonka, NSSF Board Chairman.
The Africa Finance Corporation (AFC) has secured a $100m long term loan facility from the US Government’s development finance institution, Overseas Private Investment Corporation (OPIC), and J.P. Morgan’s Corporate & Investment Bank.
IFC, a member of the World Bank Group, and ARM Capital Partners, the manager of ARM Private Equity Fund, have announced a joint $9.5m equity investment in Boulos Foods and Beverages to support the expansion of a food and beverage processing plant in Ibadan, Oyo State, Nigeria.
CDC, the UK’s development finance institution, has backed two Africa-focused funds, by committing capital of up to €25m ($31.59m) to AfricInvest Fund III (AFIII) and up to $15m to Synergy Private Equity Fund.
The African Development Bank (AfDB) has approved a €10m ($12.63m) equity investment in the African compartment of the Moringa private equity fund.
Nigeria's business magnate Aliko Dangote has announced plans to invest an undisclosed sum in the development of a major coal mine in Tanzania.
The Public Investment Corporation (PIC) will spend over $220m (R2.5bn) on African investments in the 2014/2015 financial year, according to PIC’s chairman and Finance Minister Nhlanhla Nene.
Gulf investors are likely to contribute an average of $5bn to African infrastructure in the coming years, according to a recent study by the Dubai Chamber of Commerce and Industry.
The European Investment Bank, Europe’s long term lending institution, will provide €28m ($35.36m) to Crane Bank for onward lending to local firms in both Ugandan shillings and foreign currency.
