International financiers inject US$700.5m into Aspen to bolster its operations amid Covid-19 vaccine drive

SOUTH AFRICA – Aspen Pharmacare has secured a US$700.5 million financing package led by International Finance Institution (IFC),  to support the pharmaceutical firm’s operations, including the production of vaccines. Joining the largest healthcare investment and mobilization globally to date were French development institution Proparco, German development finance corporation DEG and the US International Development Finance Corporation. The World Bank’s private…

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AfDB and several consortium partner to invest US$80bn in private sector of Africa

Ethiopia secures US$165M in grant funds from AfDB to bolster COVID-19 emergency response efforts

AFRICA – The private sector arm of the African Development Bank (AfDB), has committed to investing US$80 billion together with the G7 DFIs, the IFC, EBRD and the European Investment Bank, in the private sector over the next five years to support sustainable economic recovery and growth in Africa. This investment will create jobs, boost economic growth, help tackle climate…

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UBA, DEG to support SMEs with US$50m term facility agreement

NIGERIA – The United Bank for Africa (UBA) Plc, and Deutsche Investitions- und Entwicklungsgesellschaft mbH, (DEG) the German Development Finance Institution, have entered into a partnership aimed at supporting small and medium scale businesses (SMEs) in Nigeria. According to a statement, both institutions have signed a US$50 million term facility agreement with a tenor of six years and is targeted…

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Capital goods distributor Groupe Premium raises US$4.9m debt fund from DEG

MOROCCO – Groupe Premium, the Casablanca-based capital goods distributor and a part of Amethis Fund, has raised €4 million (US$4.9 million) debt funding from German development finance institution DEG under the AfricaConnect programme to develop its activities in West Africa.  This loan targets in particular the financing of Groupe Premium’s subsidiaries in Cote d’Ivoire and Burkina Faso to support their growth in these new markets.  A family…

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DEG finances toy company Steiff’s African production facility to safeguard jobs during the pandemic

TUNISIA – DEG, a German development finance institution, is providing German toy company Steiff’s African production facility with financing via the AfricaConnect programme, using funds from the Federal Ministry for Economic Cooperation and Development. This loan will help to strengthen an important employer in a less industrially developed region of Tunisia, thereby safeguarding jobs throughout the pandemic. Steiff employs some…

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Ghana’s First National Bank secures US$85m loan from European DFIs to support private sector development

GHANA – First National Bank Ghana has secured a long-term loan of US$85 million from European development finance institutions (DFIs) to help minimize the impact of the pandemic on the private sector, particularly on SMEs. “The world at large is still dealing with the impact of the pandemic. We cannot downplay the importance of scaling up financial support that will…

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DEG to support Helios Tower in the issue of its second bond

AFRICA – German Investment Cooperation (DEG), a Development Finance Institution and a subsidiary of KfW Group is supporting its long-standing customer, the African communications infrastructure provider Helios Towers, in the successful issue of the second bond in its corporate history. The funds raised by Helios Towers will serve to improve and stabilise the company’s current financing structure. The bond replaces…

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Naivas set to bag US$15m for sale of its minority stake to IFC, Amethis, DEG and MCB Equity Fund

KENYA – Kenyan retail chain Naivas supermarkets is set to receive US$15 million for the sale of its minority stake to IFC, a member of the World Bank Group alongside French private equity fund Amethis Finance, DEG and MCB Equity Fund. “IFC seeks to make an equity investment alongside Amethis which will result in a minority stake in the company,”…

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Eranove wraps up financing for its 390 MW power plant in Côte d’Ivoire

CÔTE D’IVOIRE – The Pan-African industrial group Eranove, the International Finance Corporation (IFC), member of the World Bank Group, and the State of Côte d’Ivoire have signed the agreements and all the documentation for the mobilization of funding of US$44.64 million for the construction of a new power plant in Côte d’Ivoire. Financial mobilisation was carried out by the IFC…

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IFC arranges US$342m credit facility for development of Eranove’s Atinkou Power Plant in Côte d’Ivoire

COTE D’IVOIRE— IFC has succeeded in arranging a US$ 341.98m (EUR 303m) credit facility for the financing of a new a gas fired power project in Côte d’Ivoire. The new plant – called Atinkou – is  being developed by Eranove, an independent producer and the delegated manager of public services in the water and electricity sectors in Ivory Coast. According…

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