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IFC and OFID Invest in Metalco to Boost Manufacturing in Zambia

LUSAKA (Capital Markets in Africa) — International Finance Corporation, a member of the World Bank Group, and the OPEC Fund for International Development (OFID) today announced an investment of $10 million each in Metalco Industries Company Limited, a Zambian company that recycles metal scrap to manufacture copper cables, lead-acid batteries, aluminum sheets and utensils. Metalco will use the new capital to upgrade environmental standards, expand operations, create over 250 new jobs and support the local…

IFC Plans More Nigeria Investment, $1 Billion in Bond Sale

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa)- The World Bank’s private-lending arm plans to boost investments in Nigeria by about 20 percent as Africa’s second-biggest oil producer tries to recover from a recession. The International Finance Corp. is looking to invest about $1.2 billion in Nigeria for the year through June 2018 using equity or debt the IFC raises itself or that it mobilizes from other sources, Country Manager Eme Lore said in a March 22 interview in Lagos,…

IFC Launches New Platform to Mobilize $5 Billion for Infrastructure Investments in Emerging Markets

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – IFC, a member of the World Bank Group, has launched an innovative program that aims to raise $5 billion from global institutional investors to modernize infrastructure in emerging markets over the next five years, opening up a new stream of capital flows to improve power, water, transportation, and telecommunications systems in developing countries. The initiative, called MCPP Infrastructure, builds on the success of IFC’s Managed Co-Lending Portfolio Program, a…

IFC Issues First Namibian Bond to Support Local Capital Market

Posted on by The Editorial Team

Windhoek, Namibia, Capital Markets in Africa — International Finance Corporation (IFC), a member of the World Bank Group, has launched the first bond by a non-resident issuer in the Namibian capital markets, raising 180 million Namibia dollars—equivalent to $12 million—for private sector development in the country. The five year bond is named “Namib” after the world’s oldest desert. Namib means “vast space” in the Nama language and gave rise to the name of the country….

IFC Investment Boosts Egypt’s Energy Infrastructure, Port Sector

Posted on by The Editorial Team

Cairo, Egypt, Capital Markets in Africa —IFC, a member of the World Bank Group, is providing a financing package of $144 million to Sonker Bunkering Company, SAE, to help develop vital new energy infrastructure and boost the performance and competiveness of Egypt’s ports. IFC’s financing – including a loan of up to $70 million, $52 million mobilized from partners, and $22 million in mezzanine financing – will go toward the development of Egypt’s first private…

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…

IFC Supports Rwandan Beverage Industry and Maize Farmers through Investment in Bralirwa

Posted on by The Editorial Team

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…

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