EAIF lends US$30m to Kenmare Resources for expansion of mine in Mozambique

MOZAMBIQUE – The Emerging Africa Infrastructure Fund (EAIF) plans to lend US$30 million to Irish mining company, Kenmare Resources Plc, as part of the financing of a US$145 million expansion at the company’s Moma Mine in Mozambique. The loan has a five-year term and is designated to meet the cost of the new infrastructure needed to move heavy equipment and provide electricity at the company’s new location. Kenmare Resources plc is one of EAIF’s longest established commercial relationships. The Fund has supported the business for many years.   “Kenmare Resources is…

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FinDev Canada invests US$7.5m in gender-lens fund to bolster women-owned SMEs

AFRICA – FinDev Canada, a company that invests in gender-lens fund to bolster women-owned SMEs in Africa, has announced an investment of US$7.5 million to Alitheia IDF, a fund supporting women-owned and led businesses, to boost women’s economic empowerment and access to finance in Sub-Saharan Africa. A joint venture between women-owned and led funds Alitheia Capital (AC) in Nigeria and IDF Capital (IDFC) in South Africa, Alitheia IDF Fund (AIF) was seeded with $12.5 million from the African Development Bank. The first fund of its kind in Africa, AIF uses…

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EAIF invests US$13m in property developer Acorn Holdings’ Green Bond

KENYA – Emerging Africa Infrastructure Fund (EAIF), an infrastructure fund managed by Investec Asset Management, invested 1.3 billion shillings (US$13m) in the green bond issued by Nairobi-based property developer Acorn Holdings, during the past week. According to Cytonn Investments, the total funds raised via the green bond amounted to 4.3 billion shillings (US$43m), with the funds being raised mainly from pension funds, development finance institutions, and commercial banks. The funds raised in the green bond deal are meant for the construction of affordable student housing projects, where Acorn is set…

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