DFC and Shell Foundation partner to invest US$145m on renewable energy in Africa and Asia

AFRICA – The U.S. Development Finance Corporation (DFC) and the Shell Foundation have signed a partnership to strengthen their investments in renewable energy in Africa and Asia to the tune of US$145 million by 2025. The two partners are thus committed to mobilising the resources to support the African private sector, particularly small electricity producers who install clean energy systems in rural areas. As part of the partnership, DFC is committed to providing US$100 million in debt and equity to support early-stage companies. For its part, the Shell Foundation aims…

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Radisson Hotel Group continues with Africa expansion despite Covid-19 challenges

AFRICA – Radisson Hotel Group has made Africa the centre of its growth strategy and aims to reach around 150 hotels in operation and under development by 2025. Ahead of its five-year plan, the company continues its transformation and seeks to cement its leadership across the continent but also aims to be recognized as one of the top three hotel brands in the world. During 2020, the group was able to increase its African portfolio with nine hotel signings, resulting in an addition of more than 1,600 rooms, further reinforcing…

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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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United Kingdom’s CDC Group targets US$1b of African investments in 2021

AFRICA – CDC Group, a development finance institution owned by the UK government is planning about US$1 billion in Africa investments this year in sectors including infrastructure and finance and is part of a consortium considering a bid for a new telecommunications license in Ethiopia. The U.K. development-finance institution is matching a similar outlay made on the continent in 2020, Chief Executive Officer Nick O’Donohoe said in an interview with Bloomberg.  CDC will target markets such as Egypt, Ethiopia, Kenya, and Nigeria, while also considering putting money into more remote, frontier…

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Invest for Jobs partners with GIPC to mobilise investments and promote job-creating growth

GHANA – The Ghana Investment Promotion Centre (GIPC) and Invest for Jobs, an initiative of the German Federal Ministry for Economic Cooperation and Development (BMZ) have signed an agreement worth €762,300 (US$934,480) to mobilise investments and promote job-creating growth of enterprises. The cooperation between the two parties will address investment promotion challenges reinforced by the coronavirus pandemic to help maintain and create new jobs in Ghana. The Special Initiative on Training and Job Creation; the official title for Invest for Jobs, is implemented among others by the Deutsche Gesellschaft fur…

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