Finance | - Part 27

The AfDB injects US$14.4 million to boost industrial competitiveness in Côte d’Ivoire

Abidjan Cote D’Ivoire, Capital Markets in Africa — The African Development Bank (AfDB) formally approved a grant of 8.226 billion CFA francs (approximately US $14.4 million) to Côte d’Ivoire from the African Development Fund (ADF) to fund the Support to Industrial Competitiveness Enhancement Project (PARCSI). This project forms part of a broader AfDB assistance package to support implementation of the country’s restructuring programme, which includes efforts to modernise businesses and update Côte d’Ivoire’s export strategy….

AfDB approves US$428 million in energy and infrastructure, transport and water projects in eight African countries

Posted on by The Editorial Team

Abidjan Cote D’Ivoire , Capital Markets in Africa — The Board of Directors of the African Development Bank Group (AfDB) on Wednesday, September 30, 2015 approved combined loans and grants amounting to US $428.43 million to finance projects in energy, infrastructure, transport and water and sanitation in eight African counties – Ghana, Tanzania, Zimbabwe, Guinea Bissau, Guinea, Senegal and Côte d’Ivoire. Under the approvals, Ghana Airports Company Ltd. will receive a loan of US $120…

AfDB approves US$ 121 million for electricity expansion to rural households in Uganda

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Abidjan, Cote d’Ivoire, Capital Markets in Africa — The African Development Bank (AfDB) Group Board approved on 16 September 2015 a US$ 121 million loan and grant to help Uganda’s government improve access to electricity for rural households, businesses and public institutions to ultimately improve the livelihoods, economic opportunities and access to social services in rural communities. The Bank Group allocated a US$ 100-million loan and an additional €10.205 million grant mobilized by the AfDB…

Guinea plans to build a US$2 Billion Hydropower Dam

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Conakry, Guinea, Capital Market in Africa — Guinea is in talks with China International Water & Electric Corporation (CWE) to build a US$2 billion hydropower dam that would boost the West African country’s energy output, according to Ministry for Energy official, Lansana Fofana. Lansana Fofana, said the proposed dam would double the country’s energy output, providing new capacity for the expansion of bauxite processing. “The idea is to feed the mining industry,” Fofana, the head of…

IFC Launches $100 million Sukuk to Support Private Sector Development

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Lagos, Nigeria, Capital Markets in Africa — IFC, a member of the World Bank Group, announced today that it issued a $100 million trust certificates through a special purpose vehicle, IFC Sukuk Company, in an effort to spur growth in developing economies. The five-year Sukuk will support IFC’s developmental financing activities in the Middle East and North Africa (MENA), and other parts of the world. It will initially be listed on NASDAQ Dubai. An…

IFC Supports Sustainable Mining in Burkina Faso with Investment in Roxgold

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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…

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