Finance | - Part 171

IFC and IFC ALAC Fund Invest in Afrimax Group to Support Expansion in Region

Lagos, Nigeria, Capital Markets in Africa — IFC and the IFC African, Latin American, and Caribbean Fund (IFC ALAC Fund) have participated in a new round of growth financing for Afrimax to accelerate the rollout of its leading edge, LTE led business model, across multiple African markets. This latest investment round in Afrimax Group is led by Mitsui & Co., Ltd., the Japanese conglomerate headquartered in Tokyo, and includes participation from existing shareholders. IFC and the IFC ALAC…

IFC Launches $100 million Sukuk to Support Private Sector Development

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Lagos, Nigeria, Capital Markets in Africa — IFC, a member of the World Bank Group, announced today that it issued a $100 million trust certificates through a special purpose vehicle, IFC Sukuk Company, in an effort to spur growth in developing economies. The five-year Sukuk will support IFC’s developmental financing activities in the Middle East and North Africa (MENA), and other parts of the world. It will initially be listed on NASDAQ Dubai. An…

IFC Supports Sustainable Mining in Burkina Faso with Investment in Roxgold

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Ouagadougou, Burkina Faso, Capital Markets in Africa — IFC, a member of the World Bank Group, has taken an 8% equity stake in Roxgold Inc., a Toronto-based gold exploration and development company, to support sustainable development of the Yaramoko gold mine in western Burkina Faso. The 18.4 million Canadian dollar investment is IFC’s third investment in Burkina Faso’s mining sector, which is one of the West African country’s leading economic drivers. It is part of IFC’s…

AfDB approves US$22-million grant to break “triangle of thirst” in West Kordofan, Sudan

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — The African Development Bank Group (AfDB) on Wednesday, September 9 committed a grant of US $22-million to finance water and sanitation facilities in the West Kordofan State of Sudan and a country-wide Institutional Capacity Development Program. More than 130,000 people (69,000 women) in the rural areas of West Kordofan State are targeted beneficiaries. Water supply points will also benefit approximately 730,000 heads of livestock. The Water Sector…

AfDB and Japan sign bilateral agreement for loan worth US$300 Mill …

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — On September 8, 2015, the African Development Bank (AfDB) and the Government of Japan signed the sixth private sector assistance loan under the joint initiative titled Enhanced Private Sector Assistance (EPSA) for Africa. The loan, worth JPY 35.88 billion, equivalent to USD 300 million, is intended to support private sector operations in Africa. To mark this agreement a signing ceremony was held at AfDB headquarters in Abidjan, Côte…

World Bank needs about US$135 thousand million in Official Development Assistance

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LUANDA, Angola, Capital Markets in Africa — The World Bank (WB) Vice-President for Development Finance Joachim Von Amsberg asked for the support of members of the African Caucus to raise funds to replenish the International Development Association (IDA). In order to finance development in an intelligent fashion, the WB needs to mobilise some US$135 thousand million in Official Development Assistance (ODA). This amount will attract and leverage new public and private investments. “We have a large portfolio,…

African Caucus guarantees financial support

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LUANDA, Angola, Capital Markets in Africa — Those taking part in the meeting of the Group of African Ministers of Finance and Governors of African Central Banks, affiliated with the IMF and the World Bank, reaffirmed their support for new funding initiatives. Joseph Tucker of the International Monetary Fund presented the “Luanda Declaration” at the close of the African Caucus, speaking of the ways and means with which the Bretton Woods Institutions (BWIs) can support the…

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