MCB Equity Fund invests US$36m in Africa Mobile Networks Limited

MAURITIUS – MCB Equity Fund, the private equity arm of MCB Group, the largest banking group in Mauritius, has announced the acquisition of a minority stake in Africa Mobile Networks Ltd as part of a consortium led by Metier, an independent African private equity manager. The consortium, which includes CDC Group (the UK’s development finance institution and impact investor), Deutsche Investitions- und Entwicklungsgesellschaft mbH (Germany’s development finance institution), Proparco (the private sector arm of the French Development Agency) and other leading institutions, has invested US$36 million into AMN. As part…

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Mauritius Commercial Bank signs a US$20m term loan facility with Bank of Kigali to support its growth objectives

MAURITIUS – The Mauritius Commercial Bank Limited (MCB) and Bank of Kigali Plc have successfully signed US$20 million deal between them to provide additional liquidity to Bank of Kigali Plc over a 1-2 year period to facilitate execution of its lending strategy. Despite the challenging market conditions, Bank of Kigali Plc maintains strong financial performance and continues to attract the support of financial institutions, showcasing investors’ confidence in the bank. The loan proceeds will be used mostly to fund their general corporate projects. Bank of Kigali Plc remains a systemically…

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Senegal’s Karpowership secures US$60m from Mauritius Commercial Bank

SENEGAL – The Mauritius Commercial Bank Ltd, MCB, is facilitating Senegal’s endeavour to improve its national electrification rate through its US$60 million participation in the syndicated project finance facility of US$140 million to Karpowership. MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of Dakar since August 2019. The Powership is contributing to around 15% of Senegal’s electricity supply. According to Africa Energy Outlook 2019, Senegal’s electrification rate was…

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