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Tag: CDC Group

H1 Capital secures US$39m from Norfund and CDC Group for green energy projects

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SOUTH AFRICA – The South African renewable energy industry today received a R600 million (US$39.22m) boost from Norfund, the Norwegian investment fund for developing countries, and CDC Group, the UK’s development finance institution (DFI). The organisations have invested in H1 Capital, a South-African black-owned and managed renewables investment and development company. Norfund will provide R360 million (US$23.53m) and CDC to…

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AgDevCo secures US$90m to continue to grow its investment activities in agriculture

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SUB-SAHARAN AFRICA – AgDevCo, a specialist investor in early-stage African agribusinesses, has announced a US$90 million package of new funding from the CDC Group, Norfund and DFC which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa. This is in addition to the announcement of supplementary funding of up to US$5.4 million from CDC,…

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CDC Group announces a commitment of US$30m in favour of Axian Telecom in Africa

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AFRICA – CDC Group, the UK’s development finance institution, has announced its anchor commitment of US$30 million to AXIAN Telecom’s inaugural 5-year US$420 million public bond offering. The company is a fast-growing provider of telecoms services and infrastructure in Madagascar, Togo, Tanzania, Senegal, Comoros, Mayotte, Reunion and Uganda. It operates across three key business segments, providing mobile network services as…

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Globeleq’s 52MWp Malindi solar plant now supplying power to Kenya’s grid

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KENYA – African-focused renewable energy independent power producer, Globeleq, and its project partner, Africa Energy Development Corporation (AEDC), has indicated that its 52MWp Malindi solar photovoltaic (PV) plant is now supplying power to Kenya’s national grid. The facility started exporting clean renewable energy to the grid on the 14th of December 2021. The power plant is delivering enough electricity to…

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Equity Bank gets yet another US$50.4m from BII for lending to small businesses

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KENYA – Kenyan lender Equity Bank is set to receive Sh5.66 billion (US$50.4 million) from United Kingdom’s development finance institution British International Investment (BII), formerly known as CDC Group, for onward lending to small businesses, reports Business Daily. United Kingdom’s Minister for Africa, Vicky Ford MP said the funds will be used to help the bank serve more Kenyans, especially…

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Mozambique’s first solar-plus-storage project reaches financial close

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MOZAMBIQUE – The Cuamba solar-plus-storage project in Mozambique being developed by African-focused independent power company Globeleq and its project partners, Source Energia, a Lusophone Africa energy developer, and Electricidade de Moçambique (EDM), the Mozambican national power utility has reached financial close. The project will consist of a 19MWp (15MWac) solar plant, plus a 2MW (7MWh) energy storage system.  “With the ongoing challenges due to…

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Swiss firm Holcim and CDC Group unveil Africa’s largest 3D-printed affordable housing project in Kenya

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KENYA – A new neighborhood in the Kenyan town of Kilifi is to spring into existence in record time thanks to a world-beating 3D printing technology. The two entities have announced that Africa’s largest 3D-printed affordable housing project will be developed by 14Trees, a joint venture between Holcim and CDC Group, the UK’s development finance institution. The 52 house Mvule…

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China’s Tencent and CDC Group invests US$70m in South Africa’s TymeBank

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SOUTH AFRICA – Chinese Internet giant Tencent Holdings has invested in South African digital bank TymeBank. UK’s development finance institution CDC Group has also invested, to take the bank’s series-B capital raise to US$180 million. The investments from Tencent and CDC are valued at an additional US$70 million, TymeBank said in a statement. The finalization of the investments is subject to…

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

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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…

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

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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…

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