Finance | - Part 175

Dubai’s Access Infra Africa to Boosts Africa’s Power Supply by US$500 million

Accra, Ghana (Capital Markets in Africa) — Access Infra Africa, a Dubai-based company, will launch what it says will be Africa’s largest privately owned solar plant in Uganda this year, part of plans to develop electricity projects in 17 African countries, mainly based on renewable energy. The company will spend USD 500m in the next three years on power generation plants, including in Egypt, Ghana, Uganda, Tanzania, Kenya and Mozambique, Reda el-Chaar, executive chairman of Access…

IFC, Central Bank of the Congo Launch Swap Facility for Private Sector Financing

Posted on by The Editorial Team

Kinshasa, Democratic Republic of Congo (Capital Markets in Africa), — IFC, a member of the World Bank Group, and the Central Bank of Congo signed an agreement that enables IFC to swap U.S dollars for Congolese francs. IFC will use the swap to make franc-denominated investments in the local private sector, supporting the country’s efforts to increase the use of local currency in the economy. The Democratic Republic of Congo’s economy is dollarized. This means that…

Nigeria-China Trade Volume Rises to USD 23.5bn

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Lagos, Nigeria (Capita Markets in Africa):- Nigeria’s bilateral trade with the Peoples’ Republic of China has risen to about USD 23.5bn from a mere USD 3.4bn in 2009, according to the Nigeria-China Business Council (NCBC) and reported by ThisDay Live Nigeria. The NCBC told reporters that over the years, it has managed to help nurture bilateral trade relations between Nigeria and China and in the process grow trade between the countries more than five-fold. It…

Tanzania awards $9 bln rail projects to Chinese companies

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DAR ES SALAAM, Tanzania (Capital Markets in Africa) – Tanzania has awarded contracts to build new railway lines worth about $9 billion to Chinese firms, its transport minister said, expanding Beijing’s presence in East Africa’s second-biggest economy. Transport Minister Samuel Sitta told parliament on Saturday a Chinese consortium had been awarded a contract to build a 2,561 km (1,536 miles) standard gauge railway connecting Dar es Salaam port to land-locked neighbours at a cost of…

Egypt, AfDB sign two loans and a grant for Sharm el-Sheikh airport development

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- The African Development Bank (AfDB) and Egypt, on May 29 in Abidjan, signed two loans and a letter of agreement. The two loans are worth US $140 million – US $90 million from the AfDB window and US $50 million loan from the Africa Growing Together Fund (AGTF). The letter of agreement concerned a grant from the Middle Income Countries (MICs) Technical Assistance Fund of UA 1.2 million…

Africa-India partnership: an opportunity for project financing in Africa

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Abidjan, Cote d’ Ivoire (Capital Markets in Africa):- Africa-India Partnership Day was one of the major events of the 2015 African Development Bank Annual Meetings. Jointly organized on May 27 in Abidjan by the AfDB’s Private Sector Department and the Export-Import Bank of India, it brought together financiers, sponsors, contractors, researchers and other key actors of Africa and India’s private sector for networking and identifying business opportunities mutually beneficial for the continent and India. The…

IFC Partners with CITIC Construction to Develop Affordable Housing in Africa

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Nairobi, Kenya (Capital Markets in Africa) —IFC, a member of the World Bank Group, and Chinese multinational construction and engineering company, CITIC Construction Co., Ltd today launched a $300 million investment platform, CITICC (Africa) Holding Limited, to develop affordable housing in Sub-Saharan Africa. The platform will partner with local housing developers and provide long-term capital to develop 30,000 homes over next five years. IFC estimates that each housing unit will create five fulltime jobs – resulting…

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