Energy Services Company AktivCo SAS secures US$70.89m multi-country facility

WEST AFRICA – The Facility for Energy Inclusion (FEI) has acted as lead arranger for a €60million (US$70.89m) multi-country facility for AktivCo SAS’ subsidiaries in Chad, Niger, Cameroon, Ivory Coast, and Burkina Faso. FEI will provide €27 million (US$31.90m) of the total amount and is being joined by Proparco which will provide €16 million (US$18.90m), Norfund €9 million (US$10.63m) and AfricaGoGreen which will provide €8 million (US$9.45m). AktivCo SAS is an Energy Services Company (ESCO) and fully owned subsidiary of Camusat Group, a global player for the roll-out of telecom…

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IFC backs Kasada Capital to support the hospitality sector in Sub-Saharan Africa

SSA – Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, has announced that IFC will form a partnership with Kasada Hospitality Fund LP by providing senior loan financing to accelerate Kasada’s strategy of building a strong and resilient hotel portfolio across sub-Saharan Africa. IFC will extend up to US$160 million of debt funding to Kasada, backing its plan to support the hospitality sector and instill globally recognized ESG practices in its hotels. The first loan granted by IFC, in collaboration with…

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International financiers inject US$700.5m into Aspen to bolster its operations amid Covid-19 vaccine drive

SOUTH AFRICA – Aspen Pharmacare has secured a US$700.5 million financing package led by International Finance Institution (IFC),  to support the pharmaceutical firm’s operations, including the production of vaccines. Joining the largest healthcare investment and mobilization globally to date were French development institution Proparco, German development finance corporation DEG and the US International Development Finance Corporation. The World Bank’s private sector arm, the International Finance Corporation (IFC), is mobilising the deal and contributing US$237 million, Proparco is providing US$184.8 million; Germany’s development institution DEG, US$170.5 million; and the US Development…

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AfDB and several consortium partner to invest US$80bn in private sector of Africa

Ethiopia secures US$165M in grant funds from AfDB to bolster COVID-19 emergency response efforts

AFRICA – The private sector arm of the African Development Bank (AfDB), has committed to investing US$80 billion together with the G7 DFIs, the IFC, EBRD and the European Investment Bank, in the private sector over the next five years to support sustainable economic recovery and growth in Africa. This investment will create jobs, boost economic growth, help tackle climate change and fight poverty.  “The UK is proud to back this commitment by world leaders at the G7 Summit to invest more than US$80 billion in Africa’s private sector over…

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Solar system supplier d.light raises US$10m from Proparco to develop its activities

KENYA – d.light, a solar home systems supplier, has raised US$10 million from Proparco, the subsidiary of the French Development Agency (AFD) group responsible for private sector financing. d.light will use this investment to develop its activities worldwide, particularly in Africa. Proparco enters the capital of d.light. The subsidiary of the French Development Agency (AFD) group has invested in this supplier of solar home systems as part of a fundraising operation. Proparco is thus injecting 10 million dollars into a fast-growing company providing an essential service, access to electricity. The…

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Private equity Ascent Capital raises US$102m to invest in SMEs across East Africa

KENYA – Private equity fund Ascent Capital has raised from US$102 million from the World Bank and top sovereign funds for investment in local companies across Eastern African. The capital was raised from the World Bank Group’s private sector arm, the International Finance Corp (IFC), the UK government-owned finance agency, the CDC Group, Dutch development financier FMO, and the French development finance institution, Proparco alongside other high net worth investors. The fund said it will invest between US$5 million and a maximum of US$19.5 million in firms across growth sectors…

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Proparco set to offer loans to VSEs and SMEs in Senegal through BICIS

SENEGAL – Proparco, a Development Finance Institution partly owned by the French Development Agency (AFD), has granted a new portfolio guarantee to BICIS, for Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs) in Senegal. BICIS will offer loans that are 80% guaranteed by AFD Group the VSEs and SMEs. BICIS is the third financial institution to deploy this exceptional guarantee in Senegal. Since the beginning of their collaboration in 2005, Proparco and BICIS have gradually strengthened their partnership to support a growing number of MSMEs. This relationship makes BICIS one…

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Investment bank Societe Generale secures US$3.6m loan from Proparco to support SMEs in Mozambique

MOZAMBIQUE – Proparco, the private arm of the French Development Agency (AFD), has pledged a guaranteed loan of €3 million (US$3.6 million) to French multinational investment bank and financial services company Société Générale’s subsidiary in Mozambique to support small and medium-sized enterprises (SMEs). The guarantee will target companies operating in high-impact sectors, with a focus on agribusiness. The agreement will also support women-owned businesses. “Proparco is pleased to be able to count on a key partner like Société Générale to support SMEs in a country where financial inclusion remains a huge…

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Equity Group signs US$100m credit facility with European lenders to support MSMEs

KENYA – Equity Group Holdings has signed a US$100 million loan facility to support Micro, Small, and Medium Scale Enterprises (MSMEs) during the three years the Covid-19 pandemic is expected to adversely affect the business operating environment as a result of the adoption of Covid-19 coping and containments measures.   The Kenyan lender has signed the facility with leading European development banks namely, Team Europe, Germany’s DEG, the Netherlands FMO and the UK’s CDC Group. To cushion businesses from Covid-19 crisis, Equity launched an offensive and defensive approach to support customers to…

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Solar off-grids developer Nuru secures US$1.2m from Proparco to expand in DRC

DRC – Nuru, a developer of hybrid solar off-grids, has just obtained €1 million (US$1.2m) from Proparco, the subsidiary of the French Development Agency (AFD) group responsible for financing the private sector, to deploy its off-grid solutions in several provinces of the Democratic Republic of Congo (DRC). The company aims to electrify 5 million people by 2024 in the DR Congolese provinces of North Kivu, Maniema, Ituri, Haute Uélé and Kasaï. Nuru has already commissioned a 1.33 MW hybrid solar power plant, one of the largest off-grid power generation facilities…

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