Ghana’s Genser Energy gets new investors after Vantage Capital’s exit

Ghana’s Genser Energy gets new investors after Vantage Capital’s exit

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GHANA — Vantage Capital, Africa’s largest independent mezzanine fund, announced that it had successfully exited its $18.5 million mezzanine investment in Genser Energy, a management-owned, independent power producer.  Luc Albinski, Vantage’s co-Managing Partner, commented: “Vantage has realised an excellent return on its…

World Bank jump starts Ghana’s National Development Bank with US$250m Initial Capitalization funds

World Bank jump starts Ghana’s National Development Bank with US$250m Initial Capitalization funds

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GHANA – The Government of Ghana has secured US$250 million from the World Bank as initial capitalization to kick-start the operations of the National Development Bank. Ghana’s Finance Minister, Mr. Ofori Atta revealed this while delivering the 2020 budget statement to Parliament…

Standard Chartered expands its mobile-money lending platform to capture young talent

Standard Chartered expands its mobile-money lending platform to capture young talent

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KENYA – Standard Chartered, multinational banking and financial services company, will offer small loans via mobile phones as part of a broader effort to capture younger African clients. “Traditionally our customers have been an average age of 50-plus, so the plan is…

AfDB, EU renew partnership to support business development in Africa

AfDB, EU renew partnership to support business development in Africa

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AFRICA – The African Development Bank and the European Union have reaffirmed their partnership towards supporting business development in the African continent. Leaders from the two institutions shook hands on a renewed commitment to unlock hundreds of millions in financing for African…