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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ACF secures US$115m funding led by FMO to expand its operations in Africa

AFRICA – Agri Commodities and Finance (ACF), a trading companies of Export Trading Group (ETG), has secured US$115 million syndicated loan facility from FMO, FinDev Canada, and OeEB to improve and expand its operations in Africa. FMO acted as lead arranger in this syndicated facility that will indirectly support an estimated 600,000 smallholder farmers and the communities, while also contributing to more sustainable and climate-resilient agricultural practices across the continent. The syndicated loan facility will allow ETG to strengthen and expand its operations across the agricultural value chain. Improved processing…

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Phatisa Food Fund 2 reaches its final close following investments from group of DFIs

AFRICA – Phatisa Food Fund 2 (PFF 2), a sector-specific African private equity fund manager, has reached a US$143 million final close following an US$82 million joint commitment from a group of development finance institutions (DFIs). The DFIs include CDC, Norfund, Finnfund, FinDev Canada, and BIO which committed to the Fund’s final close with US$30 million, US$20 million, US$15 million, US$10 million and US$7 million, respectively. “We are pleased to welcome this multinational group of investors to Phatisa Food Fund 2, a fund focused on increasing investment in the undercapitalised…

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