Finance | - Part 176

AfDB scaled up project funding by 15% to US$ 7.6 billion in 2014

Abidjan Cote D’Ivoire (Capital Markets in Africa) — The African Development Bank Group (AfDB) realised a 15.3 percent increase in its operations turnover in 2014 compared to 2013 despite the challenging global and regional economic environment, according to AfDB 2014 Annual Report. Support to infrastructure accounted for over half of the US $7.6 billion invested in the Regional Member Countries (RMCs) during the year, representing a 15.3-percent increase over the 2013 funding portfolio. According to…

New IFC and Ecobank Facility to Finance SMEs in Fragile and Conflict-Affected States in West and Central Africa

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Burundi, (Capital Markets in Africa) -IFC, a member of the World Bank Group, and Ecobank Transnational Incorporated, parent company of the Ecobank Group and leading pan-African full-service banking group, today announced the launch of a $110 million risk-sharing facility that will increase access to finance for small and medium sized enterprises in fragile and conflict-affected states in West and Central Africa. The target countries face extreme and persistent poverty exceeding 50 percent of their populations,…

South Africa’s Pension Fund acquires stake in Bayport Management

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Port Lious, Mauritius (Capital Markets in Africa):-The Public Investment Corporation (PIC), manager of South Africa’s $150 billion Government Employees Pension Fund (GEPF), is investing $149 million in Bayport Management, the Mauritius-based financial services company. However, the size of the minority stake acquired was not disclosed. Bayport Management Limited provides unsecured loans to customers in developing markets including several in Africa. Founded in 2001, the company now has over 6,700 employees servicing over 500,000 customers through 405 branches…

Flow of External Finance to Africa over the last 25 years.

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Lagos, Nigeria (Capital Markets in Africa):- As they prepare for the fast-approaching Third International Conference on Financing for Development in Addis Ababa (July 13-16, 2015), policymakers, private sector actors, and other global leaders should examine the types of external financial flows (defined as the sum of gross private capital flows, official development assistance (ODA), and remittances) that different groupings of countries receive in order to best support the implementation of the post-2015 development agenda. Understanding how…

EIB gives Madagascar 300 mln euro loan for roads, power

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Antananarivo, Madagascar (Capital Markets in Africa):- The European Investment Bank (EIB) has given Madagascar a 300 million euro ($333 million) loan to go be used to rehabilitate roads, power and energy infrastructure, the island state said. The president’s office in Madagascar said in a statement late on Tuesday that the EIB loan would also help in emergency repair work resulting from cyclone damage. President Hery Rajaonarimampianina took office in January 2014 after successful elections in 2013…

South African metros’ borrowing to rise to fund infrastructure projects

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Johannesburg, South Africa (Capital Markets in Africa):- South African metropolitan municipalities’ borrowing is expected to increase over the next three years to help pay for infrastructure spending needed to provide adequate electricity, water, roads and social housing for growing populations, Moody’s Investors Service said in a report published today. The report, entitled “South Africa Metropolitan Municipalities: Borrowing to increase as infrastructure investment needs rise”, is now available on www.moodys.com. Moody’s subscribers can access this report…

Foreign direct investment in Africa surges

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Lagos, Nigeria (Capital Markets in Africa):- Africa is the world’s fastest-growing region for foreign direct investment, according to a report from fDi Intelligence, a data division of the Financial Times group. In a year when the global greenfield FDI market grew a paltry 1%, Africa enjoyed a 65% increase in capital investment in 2014 over the previous year, to an estimated USD 87bn. The number of FDI projects in the continent rose 6%. The FDI…

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