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 and partners launch new fund to boost digital financial inclusion

AfDB and partners launch new fund to boost digital financial inclusion

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GUINEA – The African Development Bank in collaboration with partner organisations has launched the Africa Digital Financial Inclusion Facility (ADFI) to accelerate digital financial transactions across the continent. The fund is supported by the Bill & Melinda Gates Foundation, the Agence Française…

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…

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…