Finance | - Part 175

Africa-India partnership: an opportunity for project financing in Africa

Abidjan, Cote d’ Ivoire (Capital Markets in Africa):- Africa-India Partnership Day was one of the major events of the 2015 African Development Bank Annual Meetings. Jointly organized on May 27 in Abidjan by the AfDB’s Private Sector Department and the Export-Import Bank of India, it brought together financiers, sponsors, contractors, researchers and other key actors of Africa and India’s private sector for networking and identifying business opportunities mutually beneficial for the continent and India. The…

IFC Partners with CITIC Construction to Develop Affordable Housing in Africa

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Nairobi, Kenya (Capital Markets in Africa) —IFC, a member of the World Bank Group, and Chinese multinational construction and engineering company, CITIC Construction Co., Ltd today launched a $300 million investment platform, CITICC (Africa) Holding Limited, to develop affordable housing in Sub-Saharan Africa. The platform will partner with local housing developers and provide long-term capital to develop 30,000 homes over next five years. IFC estimates that each housing unit will create five fulltime jobs – resulting…

Nigeria agriculture minister wins African Development Bank presidency

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Abidjan (Capital Markets in Africa) – Nigeria’s Agriculture Minister Akinwumi Adesina won an election on Thursday to be the new president of the African Development Bank (AfDB). After six rounds of voting that saw seven rivals from across the continent defeated, Adesina secured around 60 percent of the vote in an election held in Ivory Coast, where the AfDB is based. Adesina will take over from outgoing bank president Donald Kaberuka of Rwanda on Sept. 1…

AfDB scaled up project funding by 15% to US$ 7.6 billion in 2014

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Abidjan Cote D’Ivoire (Capital Markets in Africa) — The African Development Bank Group (AfDB) realised a 15.3 percent increase in its operations turnover in 2014 compared to 2013 despite the challenging global and regional economic environment, according to AfDB 2014 Annual Report. Support to infrastructure accounted for over half of the US $7.6 billion invested in the Regional Member Countries (RMCs) during the year, representing a 15.3-percent increase over the 2013 funding portfolio. According to…

New IFC and Ecobank Facility to Finance SMEs in Fragile and Conflict-Affected States in West and Central Africa

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Burundi, (Capital Markets in Africa) -IFC, a member of the World Bank Group, and Ecobank Transnational Incorporated, parent company of the Ecobank Group and leading pan-African full-service banking group, today announced the launch of a $110 million risk-sharing facility that will increase access to finance for small and medium sized enterprises in fragile and conflict-affected states in West and Central Africa. The target countries face extreme and persistent poverty exceeding 50 percent of their populations,…

South Africa’s Pension Fund acquires stake in Bayport Management

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Port Lious, Mauritius (Capital Markets in Africa):-The Public Investment Corporation (PIC), manager of South Africa’s $150 billion Government Employees Pension Fund (GEPF), is investing $149 million in Bayport Management, the Mauritius-based financial services company. However, the size of the minority stake acquired was not disclosed. Bayport Management Limited provides unsecured loans to customers in developing markets including several in Africa. Founded in 2001, the company now has over 6,700 employees servicing over 500,000 customers through 405 branches…

Flow of External Finance to Africa over the last 25 years.

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Lagos, Nigeria (Capital Markets in Africa):- As they prepare for the fast-approaching Third International Conference on Financing for Development in Addis Ababa (July 13-16, 2015), policymakers, private sector actors, and other global leaders should examine the types of external financial flows (defined as the sum of gross private capital flows, official development assistance (ODA), and remittances) that different groupings of countries receive in order to best support the implementation of the post-2015 development agenda. Understanding how…

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