Medical Credit Fund unveils new financing for health SMEs

KENYA – Medical Credit Fund has made the first disbursement of loans under the second phase of its loan guarantee facility that targets small and medium-sized healthcare companies in Africa. The loan amounting to Sh45.2 million (US$ 417,744) has been given to Sori Lakeside Hospital based in Homabay County in Kenya. According to the company, this new phase of funding is expected to increase investments in African health infrastructure and improve access to quality primary healthcare services. Arjan Poels, Managing Director, Medical Credit Fund said that many health SMEs have…

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Drone delivery company Zipline raises US$250m for expansion

RWANDA – Zipline, arguably the world’s largest drone delivery service for medical supplies which was founded in Rwanda has raised US$250 million in new equity financing, bringing the company’s valuation to US$2.75 billion. The new financing will enable Zipline to continue advancing its integrated service, including its autonomy platform, aircraft, fulfilment systems, and operations. According to the firm, they will use the funding to further expand their logistics networks in Africa and the United States and also use the funding w to build out infrastructure for new service contracts for four new…

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EIB approves US$95m financing for geothermal power generation in East Africa

EAST AFRICA – The European Investment Bank (EIB) has approved US$4.9 billion financing for renewable energy, clean transport, COVID-19 recovery, social housing and education. Of this amount, US$95 million will be allocated to the East Africa Rift Geothermal Project. The operation is an envelope for financing individual private sector investments into geothermal power generation projects in different countries in the East African Rift region and the sub-operations under the envelope will undergo individual project appraisals and be separately approved for bank financing. Funding will be available for the countries of:…

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World Bank to support development of agri-food sector in Cote d’Ivoire with US$250m financing

COTE D’IVOIRE – The World Bank has approved US$250 million in total financing from IDA to support the development of the agri-food sector and the creation of thousands of jobs in rural areas of Cote d’Ivoire. With this financing, the Agri-Food Sector Development Project aims to remove the major obstacles hindering the growth of the agri-food sector and spur the development of more inclusive, resilient and competitive agri-food value chains. The project will promote real opportunities to forge private partnerships among stakeholders in targeted value chains such as cassava, horticulture,…

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World Bank to finance smallholder farmers and agri-enterprises in Liberia

LIBERIA – The World Bank has approved a new financing to increase productivity and market access for smallholder farmers and agri-enterprises in Liberia.   This new financing targets 60,000 persons, 50 percent of whom are women, mainly smallholder farmers and agri-entrepreneurs (private agribusiness investors, cooperatives, and SME processing or providing other services to agri-food systems) who are engaged in the selected value chains.  Funded by the International Development Association (IDA), the US$55 million credit financing will seek to address challenges for developing agri-food value chains and pave the way for rural economic transformation.   This Rural Economic Transformation…

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IsDB, BADEA to co-finance development projects in Africa

Islamic Development Bank Group

AFRICA – The Islamic Development Bank (IsDB), and the Arab Bank for Economic Development in Africa (BADEA) have signed an agreement aimed at boosting co-financing of development projects in common member countries in Africa. The agreement is part of IsDB efforts to renew its partnership with development institutions at a time when the world is facing unprecedented socio-economic challenges caused by COVID-19 pandemic. In the past ten years, IsDB and BADEA have co-financed more than a dozen projects in Ivory Coast, Guinea, Gambia, Sierra Leone, Mali, Senegal, Chad, Niger, Togo…

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Egypt, German sign US$70m financing agreement grant for six projects

EGYPT – The government of Egypt and Germany have signed €57.7 million (US$70.29m) development financing agreement grant with the plan of implementing six projects in different sectors. Egypt’s Minister of International Cooperation Rania Al-Mashat signed the agreement with German Ambassador in Cairo Cyrill Nunn. This comes within the framework of the 2019 Financial and Technical Cooperation agreements signed between the Egyptian and the German side, in the sectors of energy efficiency, renewable energy, technical education and vocational training, private sector support, administrative reform, water support, and sanitation. Minister Al-Mashat noted…

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AfDB signs US$229.5m financing agreement for the Kampala-Jinja Expressway Project

UGANDA – The African Development Bank (AfDB) and the Government of Uganda have  signed a US$229.5 million financing agreement for the first phase of the Kampala-Jinja Expressway Project, which will cut travel time and boost trade along an important artery linking Uganda with its neighbours. The Kampala-Jinja Expressway Public-Private Partnership (PPP) Project-Phase I will improve travel flow, thereby “reducing travel time from more than three hours to under one hour” between Jinja and Kampala along the northern corridor linking Uganda to neighbours Rwanda, Burundi, Democratic Republic of Congo, South Sudan,…

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InfraCo Africa to finance construction of Golomoti solar project in Malawi

MALAWI – Sub -Sahara infrastructure fund InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and its project partner, JCM Power (JCM), have announced their commitment to finance construction of the 20MWAC Golomoti Solar project with a 5MW/10MWh lithium-ion battery energy storage system (BESS) in Malawi. Golomoti Solar will be the first commercial-scale solar photovoltaic plant in Malawi to include a BESS, and along with its sister project, Salima Solar, Golomoti is among the first commercial-scale solar photovoltaic plants in the country. “As part of our commitment to Malawi’s renewable…

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French government to finance US4125.6m Kenya’s JKIA – Nairobi rail track

KENYA – Construction of a railway line linking Kenya’s Jomo Kenyatta International Airport to the country’s capital city Nairobi are back on track after Kenya secured US$125.6 million loan from the French government. Kenya’s Transport Cabinet Secretary James Macharia told the Business Daily in an interview that a commercial agreement to construct the five-kilometer line have been closed, setting the stage for start of construction from March next year. The loan will also aid the revamp the old 17-kilometre railway track that links to the standard gauge railway (SGR) line…

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