Africa Finance Corporation secures US$250m from DFC to strengthen investment capacity

AFRICA – Africa Finance Corporation (AFC), an investment grade multilateral finance institution, has secured a US$250m tier-2 capital loan from US International Development Finance Corporation (DFC). The facility will strengthen AFC’s investment capacity by enabling it to provide competitive financing solutions for closing Africa’s infrastructure deficit. It also further complements AFC’s strategy of diversifying its investor base. “Africa and the United States have enjoyed a longstanding partnership spanning several decades. Indeed, AFC has partnered with the US on several infrastructure initiatives, including the Power Africa initiative, and regularly receives investments from US-based investors in…

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Mitochondria Energy Company secures funding for feasibility study of stationary fuel cell energy solution

SOUTH AFRICA – Development finance institutions, the Development Bank of Southern Africa (DBSA) and the Industrial Development Corporation (IDC), have committed project development funding to Mitochondria Energy Company, a South African business that was established with the purpose of providing affordable, reliable and sustainable energy services. The funding will be used to complete the bankable feasibility study of a stationary fuel cell energy solution. The project aims to strengthen the energy sector in South Africa by developing a locally-produced fuel cell technology. “The IDC is excited to co-develop this project…

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