CDC Group renames, adds Southeast Asia as its new focus area

GLOBAL – CDC Group, the UK’s development finance institution (DFI), has added Southeast Asia and the broader Indo-Pacific region as its new focus area for business expansion as it renames itself as British International Investment beginning April 2022. It has also appointed former Google executive Diana Layfield as its new chairperson. Layfield is the first woman to be appointed as chairperson and will be taking charge from Graham Wrigley, who will be stepping down early in 2022 after a transitional period. The British impact investor’s five-year strategy is now “tilting…

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Adenia Partners, AFD Group set to acquire Overseas Catering Services

MOROCCO – Private equity firm Adenia Partners has partnered with Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), to buy Overseas Catering Services (OCS). The investment, which is Adenia’s first in Morocco, will support OCS’s organic and external growth and deliver on the management team’s objective to develop a leading platform in the catering and facilities management market. Adenia and Proparco will work closely with the company to apply best-in-class business and ESG practices. “We are thrilled to open our Morocco office and establish…

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CDC Group appoints Thithi Kuhlase-Maseko South Africa Head of Office and Coverage Director

SOUTH AFRICA – CDC Group, the UK’s development finance institution (DFI) and impact investor, is pleased to announce the appointment of Thithi Kuhlase-Maseko as its new South Africa Head of Office and Coverage Director. Thithi will lead CDC’s Johannesburg office, deepening the firm’s deal and portfolio-related activities in South Africa and further strengthening stakeholder relationships in the market. “I am pleased to have the opportunity to help drive CDC’s investment goals in South Africa. My role comes at an exciting time when South Africa is taking a bold step in…

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AfDB grants US$70m to DRC for agro-industrial development

DRC – The Board of Directors of the African Development Bank Group has granted a loan from the African Development Fund (ADF) of US$70.76 million to the Democratic Republic of the Congo (DRC), to implement the Program of support for agro-industrial development in Ngandajika (PRODAN), in the center of the country. This is financing from the Bank’s concessional window. The Congolese government will provide about US$22.37 million in counterpart for the execution of the program over a period of five years, in the province of Lomami, in the center of…

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AfDB grants US$70m to DRC for agro-industrial development

DRC – The Board of Directors of the African Development Bank Group has granted a loan from the African Development Fund (ADF) of US$70.76 million to the Democratic Republic of the Congo (DRC), to implement the Program of support for agro-industrial development in Ngandajika (PRODAN), in the center of the country. This is financing from the Bank’s concessional window. The Congolese government will provide about US$22.37 million in counterpart for the execution of the program over a period of five years, in the province of Lomami, in the center of…

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Benin secures US$27.5m from JICA to finance Couffo’s drinking water project

BENIN – The Japanese government has awarded a grant of 16 billion CFA francs (US$27.50m) to Benin, through its international cooperation agency, JICA. The funding will enable work to be carried out on the project to strengthen drinking water supply systems in the departments of Couffo and Plateau. The funds will enable Beninese authorities to finance the Project to Strengthen Drinking Water Supply Systems in the Departments of Couffo and Plateau, which is under development. Under this project, the Beninese government has chosen to exploit underground water resources to supply…

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IFAD to invest US$67m in SACP to sustainably transform small-scale farming sector

ZIMBABWE – The International Fund for Agricultural Development (IFAD) has announced support for a new US$67.43 million investment programme that seeks to increase productivity and rural incomes for 78,000 vulnerable rural households in Zimbabwe. The Smallholder Agriculture Cluster Project (SACP) will increase productivity and household incomes by sustainably transforming the small-scale farming sector and increasing farmers’ participation in market-oriented and climate-smart value chains. It will provide technical assistance, matching grants and infrastructure investments to agricultural production groups (APGs), rural micro-enterprises and value chain lead enterprises that can take advantage of…

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FMO set to invest US$20m investment in PE fund in Ezdehar Mid-Cap Fund II

EGYPT – FMO, the Dutch entrepreneurial development bank, has invested US$20 million in Ezdehar Mid-Cap Fund II, a fund will be managed by Ezdehar B.V, as it aims to provide capital to SMEs/Mid-cap companies operating in Egypt. This represents a continuing relationship for FMO, having committed to the predecessor fund, Ezdehar Egypt Mid-Cap Fund Coöperatief U.A., in 2016. The Fund Manager intends to promote development by enhancing sustainable growth of private sector businesses in Egypt. The investment strategy of Ezdehar II will be in line with the successfully implemented strategy…

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FMO set to invest US$20m investment in PE fund in Ezdehar Mid-Cap Fund II

EGYPT – FMO, the Dutch entrepreneurial development bank, has invested US$20 million in Ezdehar Mid-Cap Fund II, a fund will be managed by Ezdehar B.V, as it aims to provide capital to SMEs/Mid-cap companies operating in Egypt. This represents a continuing relationship for FMO, having committed to the predecessor fund, Ezdehar Egypt Mid-Cap Fund Coöperatief U.A., in 2016. The Fund Manager intends to promote development by enhancing sustainable growth of private sector businesses in Egypt. The investment strategy of Ezdehar II will be in line with the successfully implemented strategy…

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Independent power company Globeleq to build significant renewable projects in South Africa

SOUTH AFRICA – Globeleq, Africa’s leading independent power company, and the majority partner in the Ikamva Consortium, has been selected to contribute more clean and renewable wind and solar projects across the country. The six wind and six solar PV projects will total 1,274 MW of generation capacity adding to Globeleq’s nine majority owned and operated wind and solar assets in Africa, which have a total capacity of 450 MW.  Globeleq and its partners in the Ikamva Consortium were named by South Africa’s Department of Minerals, Resources and Energy (DMRE)…

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