Nile Developments partners CFM for the construction of Festival Tower in Egypt

EGYPT – Nile Developments and Investment (NDI), a real estate company, has signed a contract with Contrack Facilities Management (CFM), one of the Orascom Group companies, to provide integrated facilities management solutions for the construction of the first Festival Tower in The New Administrative Capital. CFM will provide consulting services and facility management for the project in the planning stages and studying the needs of new facilities, and was chosen by Nile Developments, due to the long and extended experiences. Eng. Mohamed Taher, Chairman of the Nile Developments, said that…

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Climate Investor Two secures US$23m from EU to support its climate change adaptation sectors

AFRICA – The European Union (EU) has committed EUR19.7 million (US$23.89m) to Climate Investor Two (CI2), the second facility under the management of Climate Fund Managers (CFM), to expands the EU’s support for sustainable infrastructure in climate change adaptation sectors across global emerging markets. This investment in CI2 is channelled through the EU’s partner bank, the Dutch Development Bank (FMO) and is the second CFM-managed facility to receive a commitment from the EU, joining the renewable energy focused Climate Investor One (CI1) which also benefitted from EU support. CI2, which…

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Climate Fund Managers, Solar Water Solutions partner to install solar-powered desalination plants in Kenya

KENYA – Climate Fund Managers (CFM) has partnered with Solar Water Solutions (SWS), to co-finance and co-develop a portfolio of solar-powered desalination installations in Kenya. Under the agreement, Climate Investor Two (CI2) will initially co-finance a piloting phase for these installations and later co-finance the full roll-out of up to 200 units in the Kitui County, that will reach up to 400,000 Kenyans. The total funding opportunity for CI2’s Construction Equity Fund is estimated up to US$15 million, with the intention to expand the platform further across East Africa after successful…

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Namibia’s Kelp farm project to get US$60m investment from CFM and Eos Capital

NAMIBIA – Climate Investor Two (CI2), managed by Climate Fund Managers (CFM), Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, have partnered for a commercial development of the world’s first large- scale kelp farm. An investment of approximately $60million will be required over a 5-year period. This will be funded by both international and local Namibian sources through CI2 and NIDIF, pending investment approvals. Kelp Blue will seek the necessary Namibian regulatory approvals and will liaise closely with local authorities. Kelp Blue will…

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Sunny Verghese – Olam International’s rise from its Nigeria origin to global giant

INSPIRATIONAL INTERVIEW Olam International’s co-Founder & CEO Sunny Verghese is proud of the great progress that his company has made since it started out in Nigeria in 1989. With operations across the five continents across the food and agro industry, he has also taken the role of championing for sustainable business practices around the World. The first time I got to meet Sunny Verghese, the Co-Founder and Group CEO Olam International, I was surprised by his huge grasp of figures, and the ease with which he has a strong awareness…

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Global investors back Djibouti’s development of 60MW wind farm

DJIBOUTI – Africa Finance Corporation (AFC), Climate Fund Managers (CFM), FMO, the Dutch entrepreneurial development bank and Great Horn Investment Holdings (GHIH) have announced a landmark investment for the construction and operation of a 60MW wind farm in the Ghoubet area, near Lake Assal in Djibouti. Development of the 60MW wind project kicked-off in 2017 by AFC, CFM, as manager to Climate Investor One’s (CIO) Construction Equity Fund, FMO (together “the Consortium”) and local developer Great Horn Investment Holdings (GHIH). Institutional expertise of individual Consortium members played a defining role…

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