Co-op Bank and eco.business Fund join forces to boost agribusiness in Kenya

KENYA – Co-operative Bank of Kenya, a tier one lender in Kenya, has secured US$10 million loan from eco.business Fund, a Luxembourg-based impact investment fund for on-lending to agribusinesses. The Nairobi Securities Exchange listed lender said it had received the subordinated loan from eco business Fund and will extend the same to sustainable agribusinesses, such as those in the coffee and tea. The facility marks the first investment in Kenya for eco-business Fund, a specialist in promoting use of natural resources, and mitigating and adapting to climate change. Co-op Bank chief executive…

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Investment bank SouthBridge in innovative joint venture deal with NACP, picks Charles Kié as a CEO

MAURITIUS – Investment bank SouthBridge Investments (SBI) and New African Capital Partners (NACP) have announced the launch of their joint venture named SBNA that will act as a “permanent capital fund” aiming to attract investors who take a long-term view on Africa. The joint venture intends to directly invest in Africa’s future with long-term capital, focusing on FinTech, the financial sector integration, and micro and meso finance. Charles Kié, CEO and co-founder of New African Capital Partners, will head SBNA. Mr. Kié’s professional career includes top jobs at Citibank, Banque…

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Energy fund Revego eyes JSE listing to raise US$103.4m for growth

SOUTH AFRICA – Revego Africa Energy Fund, an investor in South African renewable projects, is looking to raise US$103.4 million by April this year as it eyes listing at the Johannesburg Stock Exchange (JSE). The fund which is backed by Investec, the Eskom Pension & Provident Fund and UK Climate Investment is seeking to list on the JSE, this is according to Revego Fund Managers chief investment officer Michael Meeser. “We have already identified assets equal to that value and have actually signed purchase agreements,” he said. The listing may come…

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US’ DFC set to launch US$100m Investment Fund for local entrepreneurs

MOROCCO – US International Development Finance Corporation (DFC) has announced that it will operate a US$100 million fund focusing on promoting opportunities while tackling endemic problems facing Morocco that require innovative solutions from local entrepreneurs. The fund is part of a new partnership between DFC and the Small Business Assistance Fund. It aims to support small and medium-sized businesses across Morocco running in the sectors of water, healthcare, energy, agriculture, clean energy, and sanitation. This is part of a US$5 billion budget that the DFC will invest in Morocco and…

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