Project Finance |

Multinational companies see long-term growth potential in Nigeria — Moody

Lagos, Nigeria, Capital Markets in Africa — Multinational companies operating in Nigeria remain committed to participating in the long-term growth of Africa’s biggest economy and most populous country. This is despite the current environment of a continued low oil price and slowing economic expansion, Moody’s Investors Service said in a report published today and titled “Nigeria — Multinational Companies: Long-term Growth Strategies Resilient Despite Weak Oil Price Environment”. Large companies are sticking to their long-term…

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…

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…

World Bank Group Approves $500 Million For Eastern Africa Development Corridor

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Nairobi, Kenya (Capital Market in Africa) —The World Bank Group has approved $500 million for the development of the transport and trade corridor in north-western Kenya and improve the livelihoods of the communities in Turkana and West Pokot counties. The World Bank Board of Executive Directors today approved the International Development Association (IDA)* credit for the East Africa Regional Transport, Trade and Development Facilitation Project, which will enhance regional competitiveness by improving the movement of goods and…

AfDB provides US $22 million to fund Mahe Sustainable Water Augmentation Project in Seychelles

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Victoria, Seychelles (Capital Market in Africa) — The Government of the Republic of Seychelles has received a loan worth US $ 20.6 million, in addition to a US $1.668 million grant, from the African Development Bank (AfDB) to finance part of the Mahe Sustainable Water Augmentation Project. The accords were signed on May 27, on the sidelines of the AfDB’s 50th Annual Meetings held in Abidjan, Côte d’Ivoire. Signing the AfDB loan and the grant…

IDB Raises Sukuk Issuance Programme Ceiling from US$10 Billion to US$25 Billion

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MAPUTO, Mozambique (Capital Markets in Africa) — The Board of Executive Directors (BOED) of the Islamic Development Bank at its 305th session which began on Sunday, 7/6/2015, in Maputo, capital of the Republic of Mozambique, under the chairmanship of H.E. Dr Ahmad Mohamed Ali, chairman of the Islamic Development Bank Group, approved the raising of the current limit of the Bank’s medium term sukuk issuance programme from US$10 billion to US$ 25 billion. On this…

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

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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…

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