Côte d’Ivoire shopping mall owner issues first corporate green bond

CÔTE D’IVOIRE – Emergence Plaza, the promoter of the Cosmos Yopougon shopping center in Abidjan, succeeded in mobilizing the 10 billion FCFA (US$18.1m) sought as part of its bond loan launched in July. The firm announces that it has closed the oversubscribed operation which is the first issue of private initiative green bonds from Frenchspeaking West and Central Africa. “It is encouraging to see the success of Francophone West and Central Africa’s debut green bond, which we believe will be the first of many in the region,” said Kadi Fadika-Coulibaly,…

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IFC set invest US$100m in Egypt’s first private sector green bond

EGYPT – International Finance Corporation (IFC), a World Bank member, announced that it is investing US$100 million in Egypt’s first private sector green bond, which will be issued by the Commercial International Bank (CIB) in June. CIB’s green bond is expected to increase lending to businesses that are willing to invest in eco-friendly initiatives and projects, including green buildings, and renewable energy and energy efficiency. IFC said that the debut issuance is an important milestone in a multi-year effort introduced by the government, Egypt’s private sector and IFC to grow…

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E-commerce platform Capiter aims to achieve US$1bn in revenue by 2023

EGYPT – Capiter, the e-commerce platform specialising in the field of fast-moving consumer goods (FMCG) and foodstuffs, has announced that it aims to achieve revenues of US$1 billion by 2023. The target comes as part of the company’s ambitious plan to multiply the volume of its business tenfold, after achieving fruitful results during 2020 despite the novel coronavirus (COVID-19) pandemic crisis. Capiter presents a new concept for the Egyptian market in retail trade, by serving as a link between consumer goods makers, major companies, and wholesalers in the field of…

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Solar plant Kom Ombo secures US$114m to finance its construction

EGYPT – Kom Ombo, the largest private-sector solar plant in Egypt, has secured US$114 million package, through ACWA Power, from a group of banks to finance its construction. The deal was signed by the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development, the African Development Bank (AfDB), the Green Climate Fund (GCF), and the Arab Bank. The package includes loans of up to US$36 million from the EBRD, US$18 million from the OPEC Fund, US$17.8 million from the AfDB, US$23.8 million from the GCF and…

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