Guinea, Burkina Faso receive US$24m support from IFC under new partnership with Vista Bank

WEST AFRICA – The International Finance Corporation (IFC), through its Global Trade Finance Program (GTFP), has partnered with Vista Bank, which serves clients across West Africa with a wide range of financial services, to increase the availability of trade finance in Guinea and Burkina Faso and support imports of essential goods into the countries. As part of the agreement, Vista…

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Hospitality group Accor launches two new hotels in Guinea

GUINEA – Accor, a global hospitality group with over 400 hotels across India, the Middle East, Africa and Turkey is expanding its footprint in Africa, with the signing of a twofold project: a Novotel hotel and the first Novotel Living in Africa, both located in Conakry, Guinea. Strategically located in the Centre Business District (CBD) of Conakry, in close proximity…

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

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…

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Guinea, Togo join the leading infrastructure solutions provider AFC

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…

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

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…

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

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…

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

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…

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

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…

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Nordgold equips its training center with Cybermine Full-Mission Simulator

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…

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

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…

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