Financial group I&M Holdings invests US$180m in Kenyan unit

Financial group I&M Holdings invests US$180m in Kenyan unit

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KENYA – I&M Holdings, a conglomerate comprising financial service providers, says it has invested an additional US$180 million (Sh1.8 billion) in its fully-owned Kenyan subsidiary whose operations expanded following the acquisition of Giro Commercial Bank. The Nairobi Securities Exchange-listed firm made the…

Trustco enters warrant agreement with Evo Fund as it seeks to raise US$141.28m

Trustco enters warrant agreement with Evo Fund as it seeks to raise US$141.28m

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NAMIBIA – Namibian investment company, Trustco, has said that it has entered into a derivative agreement that could result in a US$141.28 million (N$2bn) capital raise and improved liquidity of its shares. Trustco said that the warrant agreement with Evo Fund could…

AfDB approves US$24.7m for Water and Sanitation Development in South Sudan

AfDB approves US$24.7m for Water and Sanitation Development in South Sudan

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SUDAN – The Board of Directors of the African Development Bank (AfDB) has approved a proposal to commit US$24.7 million to finance the South Sudan Strategic Water Supply and Sanitation Improvement Project. The project will support the rehabilitation of approximately 50km of…

Rwanda partners with IFAD in US$24.7m project to enhance climate resilience

Rwanda partners with IFAD in US$24.7m project to enhance climate resilience

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RWANDA – The International Fund for Agriculture Development (IFAD) has partnerd with Rwanda in a new US$24.7 million project that aims to improve food and nutrition security, climate resilience and raise incomes by increasing production.   The projects dubbed “Kayonza Irrigation and Integrated…

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

European Investment Bank partners Equity Bank in US$66.2m agro-processing loan scheme in Kenya

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KENYA – The European Investment Bank (EIB) has unveiled a US$66.2 million (Kshs6.62 billion) financial package for onward lending to farmers and agro-processors servicing demand-driven contracts in Kenya. Dubbed the Kenya Agriculture Value Chain Facility, the financing program was launched in Nairobi…

Sweden’s Norrsken opens East Africa startup fund and hub in Rwanda

Sweden’s Norrsken opens East Africa startup fund and hub in Rwanda

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RWANDA – Norrsken Foundation, a co-working space and investment fund based in Sweden, has opened its tech fund and entrepreneurship hub in Kigali Rwanda to support ventures across the region. The Kigali center is Norrsken’s first launch outside of Sweden and the…

Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

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TANZANIA – The NMB Bank, a commercial bank in Tanzania, has set aside US$217.65 million (Tshs500 billion) to finance milk processing ventures in a bid to boost several milk processing plants in the country. The financial institution said that the funding, which…