Finance | - Part 174

African Caucus guarantees financial support

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…

DHL invests about 47 Million Euro in Sub-Saharan Africa

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JOHANNESBURG, South-Africa (Capital Markets in Africa) — Frank Appel, Chief Executive Officer of Deutsche Post DHL Group, visited South Africa and Nigeria this week. The visit demonstrated the overall importance of emerging markets in the Group’s Strategy 2020: Focus.Connect.Grow., and in specific the encouraging development of Sub-Saharan Africa. During his stay in South Africa and Nigeria, Frank Appel met with employees and customers, and visited several logistics facilities. Affirming the Group’s focus on emerging markets, Frank…

Angola receives IFAD financing to strengthen artisanal fisheries and aquaculture

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LUANDA, Angola, Capital Markets in Africa – Republic of Angola and the United Nations International Fund for Agricultural Development (IFAD) signed an agreement to finance the Artisanal Fisheries and Aquaculture Project (AFAP) in Bengo, Cuanza Norte, Luanda and Malange provinces in the central-north region of Angola. The US$11.1 million IFAD loan and US$1.0 million contribution from the government of Angola will help reduce poverty in artisanal inland fishing and small-scale fish-farming households. AFAP will help to…

Africa Finance Corporation receives US$50 million from the Islamic Development Bank for project financing

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LAGOS, Nigeria (Capital Markets in Africa) — Africa Finance Corporation (AFC) is pleased to announce its acceptance of a US$50 million 15 year line of financing, with a 13 year six month repayment period, from the Islamic Development Bank (IDB). The funds will be used to finance projects located across the numerous African IDB member countries. The projects will be structured in a way that is compliant with Islamic Finance, focusing particularly on infrastructural and agricultural…

IFC Supports Afriland to Provide Trade Finance Guarantees to Corporates in Cameroon

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Douala, Cameroon (Capital Markets in Africa) —IFC, a member of the World Bank Group, has signed an agreement with Afriland First Bank Cameroon (“Afriland”), to enable it to expand its trade finance operations and extend more services to small and medium enterprises and corporate clients in Cameroon. The risk-mitigating scheme will provide guarantees to local importers and exporters that alleviate trade lines limitations and related constraints within the banking community. A breakthrough initiative towards a privately-owned Cameroonian…

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