Terra Mauricia and Kibo Fund consortium exit Orange Madagascar

MADAGASCAR – After ten years supporting Orange’s growth on the Malagasy market, a consortium of minority investors led by Terra Mauricia and Kibo Fund divested in January 2021 its 16% stake in Orange Madagascar. The earliest operator in the Malagasy telecom market, Orange has become a dominant player in voice and data services for both individuals and businesses, and a leading financial service provider with its subsidiary Orange Money Madagascar. From 2005 to 2010, the company became the market leader with more than 2 million subscribers and maintains a 60%…

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AfDB, FAO and South Sudan ink protocols for US$14m grant to boost agricultural markets

SOUTH SUDAN – The African Development Bank (AfDB) has signed protocols to disburse a US$14 million grant to the Government of South Sudan to boost agricultural markets in a project to be implemented by the UN’s Food and Agriculture Organization (FAO). The Agricultural Markets, Value Addition and Trade Development (AMVAT) project aims to enhance agricultural productivity and boost the marketing and trade of agricultural products in South Sudan. The project will be implemented by the Food and Agriculture Organization of the United Nations (FAO) in close liaison with the country’s…

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EIB invests US$11m loan to Jaida to support income-generating microcredit activities

MOROCCO – The European Investment Bank (EIB) has financed €10 million (US$11.99m) loan to the financing company of microfinance organizations, Jaida, to support income-generating microcredit activities in Morocco. The loan to be extended will strengthen the company’s capacity to finance microfinance institutions in Morocco and support its action meant to promote financial inclusion and social development, said a BEI-Jaida joint press release. This funding will be used exclusively to finance micro-credits totaling less than €25,000 (US$29,979) in order to promote income-generating activities and help maintain employment through micro and small…

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Harith General Partners to build gas-fired power plants in South Africa

SOUTH AFRICA – Harith General Partners, a leading Pan-African fund manager for infrastructure development across the continent, is forging ahead with plans to build the first gas-fired power plants in South Africa’s industrial hub of Gauteng. The fund manager wants to build two gas-fired plants at the site of its coal-fired Kelvin Power Station, which lies east of Johannesburg close to the city’s main airport. The government’s energy blueprint, known as the Integrated Resource Plan, includes proposals to bring gas to the region from 2023 at the earliest, and that target…

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Airlink, Qatar Airways, join forces to bring solar power to health facilities in Uganda

UGANDA – Airlink, Centre for Disaster Philanthropy (CDP), Qatar Airways, Flexport.org, and We Care Solar have joined forces to bring reliable sources of solar power to health facilities in Uganda. We Care Solar is a non-profit organisation with the mission of saving lives in childbirth by increasing clean energy access to health centres. Since 2010, We Care Solar has been achieving this through the design and distribution of their Solar Suitcase, a compact and easy-to-use solar electric system. Solar Suitcases are distributed to last-mile health facilities and provide medical lighting…

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STEG secures US$359m from EBRD to support the stability of Tunisia’s energy sector

TUNISIA – The European Bank for Reconstruction and Development (EBRD) provided a €300 million (US$359.89m) financing package to the Tunisian Electricity and Gas Company (STEG). The loan will support the stability of Tunisia’s energy sector during the coronavirus pandemic in the medium term, EBRD said in a statement. It will enable STEG to implement an ambitious corporate and climate reform roadmap that would anchor the shift towards a more sustainable and efficiently run company. The loan agreement was signed in Tunis between STEG’s CEO, Hichem Anane, and EBRD’s head of…

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Development Bank of Southern Africa launches its first US$240m green bond

SOUTH AFRICA – The Development Bank of Southern Africa (DBSA) has launched its first green bond, worth US$240 million in its bid to increase its role in climate financing. The bond was issued through a private placement with the French development finance institution, the Agence Française de Développement. The bank said the bond would be structured in alignment with its recently released Green Bond Framework. The framework reiterates the DBSA’s commitment to playing a role in the just transition to a low-carbon economy and is aligned with the International Capital…

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Female-focused angel fund FirstCheck Africa launches its US$25k investment plan

NIGERIA – FirstCheck Africa, a Female-focused angel fund and investor community, has launched operations and plans to invest up to US$25,000 in women who have ideas for technology startups. Launched by Endeavor Nigeria managing director Eloho Omame and PiggyVest co-founder Odunayo Eweniyi, FirstCheck launches with a mission to advance equity, capital and leadership for a generation of women in Africa through technology and entrepreneurship. The fund is also working on developing the middle tier of female angel investors, by building a community of millennials and mid-career women that want to…

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Logistics property fund Equites sells two UK distribution warehouses

SOUTH AFRICA – Johannesburg Stock Exchange listed specialist logistics property fund, Equites, has sold two UK distribution warehouses to real estate funds managed by Blackstone for US59 million representing a 4.79 percent net exit yield and 6 percent premium to Equites’ book value. The sale proceeds would be re-invested into distribution warehouse development by the Equites/Newlands joint venture, with the new warehouses let on 20- and 15-year leases to Hermes and Amazon, a statement said. The transaction would realise net cash proceeds of US$32.2 million to Equites, while lowering the…

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