Ivory Coast | - Part 5

Adenia Partners invests in leading power services company in Ivory Coast

ABIDJAN, Capital Markets in Africa: Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, announced a majority investment in Ademat, a leading business service company in Côte d’Ivoire active in the power sector. This transaction is the final transaction of Adenia Capital (III), a EUR96mn fund closed in February 2012. Founded in Abidjan in 1983, Ademat distributes, installs and maintains power devices, inverters, drive systems, and other…

Ivory Coast Leader Sees Steady Growth of 9 Percent Through 2017

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ABIDJAN, Capital Markets in Africa: Ivory Coast President Alassane Ouattara said he expects an economic growth spurt in the west African nation that’s outpaced all its continental peers to last until at least through next year, and said the country is looking everywhere for investors as it recovers from internal conflict. Ivory Coast has no preference for either public or private investment on whether investors come from “China, the Gulf States” or anywhere else, Ouattara said in…

Investment | DPI invests US$100mn in Atlantic Business International

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ABIDJAN, Capital Markets in Africa: Development Partners International (DPI), one of the leading African private equity specialists with US$1.1bn under management, has agreed to subscribe to a US$100mn capital increase through its ADP II Fund in Atlantic Business International (ABI). ABI is the third largest banking entity in the West African Economic and Monetary Union (UEMOA) and the second largest bank in Côte d’Ivoire in terms of deposits with banking and insurance operations across Côte…

Trade | Ivory Coast Will Ratify Interim Trade Deal With EU This Month

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Abidjan, Ivory Coast, Capital Markets in Africa: Ivory Coast plans to ratify an interim economic trade pact with the European Union by the end of the month even though a regional deal, approved in 2014, has yet to be signed by all the countries of the West African economic bloc, a minister said. An Ivorian parliamentary foreign affairs committee unanimously voted on Wednesday to allow President Alassane Ouattara to ratify the agreement, which will reduce trade barriers…

Ivory Coast returns to sovereign sukuk market, after Togo debut

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ABIDJAN, Capital Markets in Africa: Ivory Coast plans to complete a sale of 150 billion CFA francs ($263 million) worth of Islamic bonds later this month, the transaction’s lead arranger said on Tuesday, following Togo’s debut sale of sovereign sukuk launched last month. The two West African nations join Senegal in tapping the market for sukuk, helping expand the use of Islamic financing options outside of the industry’s core centres in the Middle East and…

Trade Finance | Afreximbank Vows $1 Billion for Ivory Coast Cocoa Projects

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Abidjan, Ivory Coast, Capital Markets in Africa: African Export-Import Bank said it will provide as much as $1 billion in finance for cocoa and cashew projects in Ivory Coast as the country seeks to increase its domestic processing capacity. The bank is offering loans to private investors and projects owned by the state, which will also guarantee the finance, Benedict Oramah, chief executive officer of the Cairo-based lender known as Afreximbank, told reporters in the commercial capital,…

Investment | Ivory Coast Attracts $15.4 Billion in Pledges, Twice Its Budget

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Abidjan, Ivory Coast, Capital Markets in Africa: Ivory Coast received more than $15 billion in pledges from donors and lenders to fund its five-year development plan, almost double the amount it sought at a Paris meeting that showcased the world’s top cocoa grower as an investors’ favorite in Africa. The West African nation wanted to secure at least 4,425 billion CFA francs ($8.8 billion) in pledges to fund part of a $60 billion investment plan…

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