Finance | - Part 173

IFC Supports Sustainable Mining in Burkina Faso with Investment in Roxgold

Ouagadougou, Burkina Faso, Capital Markets in Africa — IFC, a member of the World Bank Group, has taken an 8% equity stake in Roxgold Inc., a Toronto-based gold exploration and development company, to support sustainable development of the Yaramoko gold mine in western Burkina Faso. The 18.4 million Canadian dollar investment is IFC’s third investment in Burkina Faso’s mining sector, which is one of the West African country’s leading economic drivers. It is part of IFC’s…

AfDB approves US$22-million grant to break “triangle of thirst” in West Kordofan, Sudan

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — The African Development Bank Group (AfDB) on Wednesday, September 9 committed a grant of US $22-million to finance water and sanitation facilities in the West Kordofan State of Sudan and a country-wide Institutional Capacity Development Program. More than 130,000 people (69,000 women) in the rural areas of West Kordofan State are targeted beneficiaries. Water supply points will also benefit approximately 730,000 heads of livestock. The Water Sector…

AfDB and Japan sign bilateral agreement for loan worth US$300 Mill …

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — On September 8, 2015, the African Development Bank (AfDB) and the Government of Japan signed the sixth private sector assistance loan under the joint initiative titled Enhanced Private Sector Assistance (EPSA) for Africa. The loan, worth JPY 35.88 billion, equivalent to USD 300 million, is intended to support private sector operations in Africa. To mark this agreement a signing ceremony was held at AfDB headquarters in Abidjan, Côte…

World Bank needs about US$135 thousand million in Official Development Assistance

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LUANDA, Angola, Capital Markets in Africa — The World Bank (WB) Vice-President for Development Finance Joachim Von Amsberg asked for the support of members of the African Caucus to raise funds to replenish the International Development Association (IDA). In order to finance development in an intelligent fashion, the WB needs to mobilise some US$135 thousand million in Official Development Assistance (ODA). This amount will attract and leverage new public and private investments. “We have a large portfolio,…

African Caucus guarantees financial support

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LUANDA, Angola, Capital Markets in Africa — Those taking part in the meeting of the Group of African Ministers of Finance and Governors of African Central Banks, affiliated with the IMF and the World Bank, reaffirmed their support for new funding initiatives. Joseph Tucker of the International Monetary Fund presented the “Luanda Declaration” at the close of the African Caucus, speaking of the ways and means with which the Bretton Woods Institutions (BWIs) can support the…

President of the African Caucus urges the combat of illicit financial flows in Africa

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LUANDA, Angola, (Capital Markets in Africa) — The President of the African Group and Minister of Finance of Angola, Armando Manuel, declared in the welcoming speech to the participants at the Luanda Caucus- 2015 meeting. “This obliges us to look for other sources of financing including savings that can be made from restricting illicit financial flows from Africa, especially measures that can be taken to radically reduce these mass monetary outflows and guarantee that they are used…

IFC Supports Rwandan Beverage Industry and Maize Farmers through Investment in Bralirwa

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Kigali, Rwanda (Capital Markets in Africa), — IFC, a member of the World Bank Group, today announced a new financing transaction with Brasserie et Limonaderies du Rwanda to support plans for expanding production of soft drinks and sourcing of maize from local farmers. Known as Bralirwa, the subsidiary of Heineken N.V. is Rwanda’s leading manufacturer of beers and soft drinks, including the Primus and Coca-Cola brands. The $25 million loan from IFC aims to promote…

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