Tag: Guinea

Vista Group Holdings SA secures US$69m Intra Africa Investment Finance Facility from Afreximbank

Frank

WEST AFRICA – African Export-Import Bank (Afreximbank) has closed a €59.2 million (US$69.72m) Intra Africa Investment Finance Facility to finance Vista Group Holdings SA’s acquisition of majority stakes in two banks. The banks are Banque Internationale pour le Commerce et l’Industrie de la Guinée (BICIGUI) and Banque Internationale pour le Commerce, l’Industrie et l’Agriculture du Burkina (BICIAB). The stakes in the two banks, which operate in Guinea and Burkina Faso respectively, are being acquired from BNP Paribas who is exiting these markets for operational reasons. The shift to African control…

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Guinea, Togo join the leading infrastructure solutions provider AFC

Frank

WEST AFRICA – Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has onboarded the Central Bank of Guinea and the Togolese Republic as its newest shareholders, cementing AFC’s pan-African representation. One of AFC’s first Member States in 2008, the Corporation has invested approximately US$300 million to spur employment opportunities and sustainable economic development from Guinea’s vast mineral resources. Developments co-financed by AFC include the high-grade bauxite Alufer Mine in 2017, which marked one of the largest foreign investments in the west African country since the 2014 Ebola…

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State-owned company EDG to buy 40 MWp solar power from InfraCo Africa

Frank

GUINEA – The state-owned company Electricité de Guinée (EDG) has signed a power purchase agreement to buy power from 40 MWp Khoumagueli Solar Plant. The solar project is being developed by InfraCo Africa, a Private Infrastructure Development Group (PIDG) company and Solveo Energie, a renewable energy producer based in Fenouillet, France. InfraCo Africa is investing in the project through its contracted developer, Aldwych Africa Developments (AADL). The consortium has set up Khoumagueli Solar S.A., an ad hoc company to develop, build and operate the future 40 MWp facility. “The signing…

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Guinea signs agreement for establishment of Fund for Export-Development in Africa

Frank

GUINEA – The Republic of Guinea has signed the Agreement for the Establishment of the Fund for Export-Development in Africa (FEDA), a development impact-oriented subsidiary of the African Export-Import Bank (Afreximbank). The Establishment Agreement grants FEDA legal capacity to conduct business in its own name as an international organisation with privileges and immunities accorded to other Multilateral Financial Institutions on the continent. Guinea becomes the third signatory of the Establishment Agreement after Rwanda in November 2020 and Mauritania in January 2021. To complete the FEDA Legal Establishment process, two Afreximbank…

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Vista Bank Guinea secures US$11m from EBID to increase its funding capacity

Frank

GUINEA – ECOWAS Bank for Investment and Development (EBID) has granted a €10 million (US$11.97m) line of credit to Vista Bank Guinea to increase its capacity, support and medium-term funding for small and medium-sized enterprises (SMEs) and small and medium-sized industries (SMIs) in the Republic of Guinea.  The line of credit is part of EBID’s commitment to support the government of Guinea’s implementation of its 2020-2025 Development Plan to develop the private sector and transform the economy. The agreement for the line of credit facility was signed by Dr George…

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Homebuilder AHWA closes acquisition of new land in Conakry for high quality housing

Frank

GUINEA – American Homebuilders of West Africa (AHWA), a premier production homebuilder serving West Africans in the diaspora and those resident in the region, has announced that it has closed an acquisition of new land in Maneah in the Conakry suburbs. With the new acquisition, AHWA will expand its ability to serve both diaspora members and local residents looking for high quality housing in the capital region. The Maneah parcels are easily accessible from the new highway connecting KM36 and Coyah. “So many of our clients are focused on the…

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Nordgold equips its training center with Cybermine Full-Mission Simulator

Frank

GUINEA – Nordgold, a diversified miner, has equipped its new West Africa training centre, located near the Lefa mine in Guinea, with a Cybermine Full-Mission Simulator that includes a learning platform and surface excavator simulator cab (based on a Cat 6020B). The simulator is a training tool for mining fleet operators designed to improve their skills in safe and efficient manipulation of modern mining equipment. The West Africa training centre, launched earlier this year, is aimed to develop the technical skills of Nordgold’s 1,300 workers based in the region. The…

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DHL expands Africa eShop application in 14 countries to increase its user base

Frank

AFRICA – DHL Express, a courier company, announced that their e-commerce platform eShop is now available in 14 additional countries across the region. The countries include Angola, Benin, Burkina Faso, Burundi, Chad, Ethiopia, Guinea, Lesotho, Liberia, Mali, Namibia, Niger, Sudan, and Togo. This increases the platform’s reach to 34 countries across sub-Saharan Africa that was launched in April 2019. South Africa was one of the first countries where the eShop was launched. Since its initial introduction, the DHL Africa eShop app has seen its user base grow rapidly, and within…

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