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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Acorn Holdings sees oversubscription of final tranche of its Green Bond

KENYA – Property developer Acorn Holdings Limited has closed the final tranche of its Medium-Term Green Note Programme under which the first Green Bond was launched. In a statement, the company says the bond has raised KSh2.096 billion (US$19.4 million) against a target of KSh1.438 billion (US$13.3 million) representing a subscription rate of 146 percent. The green bond was launched in October 2019 for KSh5 billion (US$46.2 million), becoming the first of its kind in Kenya. In the process, the first tranche of the issue raised KSh4.262 billion (US$39.4 million)…

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Ghana signs agreement with IFC for development of green bond market

GHANA – The International Finance Corporation (IFC) has just signed an agreement with the Ghana Securities Commission (SEC) for the development of the green bond market in Ghana. The World Bank’s private sector financing arm is thus including the West African country in its Green Bond Programme. Issued on the financial markets, green bonds make it possible to support projects to combat global warming, support the energy transition, etc. Ghana intends to take advantage of this mechanism to accelerate its sustainable development process. This is why the Ghana Securities Commission…

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