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 sector arm, the International Finance Corporation (IFC), is mobilising the deal and contributing US$237 million, Proparco is providing US$184.8 million; Germany’s development institution DEG, US$170.5 million; and the US Development…

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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 change and fight poverty.  “The UK is proud to back this commitment by world leaders at the G7 Summit to invest more than US$80 billion in Africa’s private sector over…

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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 at supporting SMEs and family-owned businesses in Nigeria. UBA America’s Chief Executive Officer, Sola Yomi-Ajayi, was quoted to have said UBA remains passionate about the growth of the private sector…

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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 business created in 1949, Groupe Premium has established itself over the years as a key player in the distribution of capital goods In Morocco.   It has exposure to segments like…

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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 800 people in its factory in Sidi Bouzid. Steiff, which is known for its soft toy animals and high-quality children’s clothing, has its headquarters in the town of Giengen in…

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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 help minimize the impact of the pandemic, particularly on SMEs,” Dominic Adu, CEO of First National Bank Ghana emphasized “That is why we will capitalize on funding from institutions like…

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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 an existing bond that was set to mature in 2022, among other things. The placement also gives the company more liquidity for future investments. Helios Towers has specialised in building,…

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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,” IFC said in a disclosure. The new capital injection is earmarked for expansion in the highly competitive local supermarket business that has attracted major players across the globe. “Through the…

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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 from the African Development Bank (AfDB); the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of the Kreditanstalt für Wiederaufbau (KfW) Group and the German development agency. The Netherlands Development Finance…

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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 to an IFC statement, the new plant  will boost power generation and supply in a country, where, as of 2017, only 66 percent of the population had access to electricity.…

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