Financial services startup Pivo secures funding from Microtraction

NIGERIA – Pivo, a credit-focused financial services startup for SME players in the supply chain, has raised an undisclosed amount of funding from early-stage VC firm Microtraction. Founded last year by Nkiru Amadi-Emina and Ijeoma Jacquelyn Akwiwu, Pivo offers SME owners in the supply chain sector a new and more efficient way to access financial services. Pivo Capital, the company’s…

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Côte d’Ivoire shopping mall owner issues first corporate green bond

CÔTE D’IVOIRE – Emergence Plaza, the promoter of the Cosmos Yopougon shopping center in Abidjan, succeeded in mobilizing the 10 billion FCFA (US$18.1m) sought as part of its bond loan launched in July. The firm announces that it has closed the oversubscribed operation which is the first issue of private initiative green bonds from Frenchspeaking West and Central Africa. “It…

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IFC set invest US$100m in Egypt’s first private sector green bond

EGYPT – International Finance Corporation (IFC), a World Bank member, announced that it is investing US$100 million in Egypt’s first private sector green bond, which will be issued by the Commercial International Bank (CIB) in June. CIB’s green bond is expected to increase lending to businesses that are willing to invest in eco-friendly initiatives and projects, including green buildings, and…

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E-commerce platform Capiter aims to achieve US$1bn in revenue by 2023

EGYPT – Capiter, the e-commerce platform specialising in the field of fast-moving consumer goods (FMCG) and foodstuffs, has announced that it aims to achieve revenues of US$1 billion by 2023. The target comes as part of the company’s ambitious plan to multiply the volume of its business tenfold, after achieving fruitful results during 2020 despite the novel coronavirus (COVID-19) pandemic…

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Solar plant Kom Ombo secures US$114m to finance its construction

EGYPT – Kom Ombo, the largest private-sector solar plant in Egypt, has secured US$114 million package, through ACWA Power, from a group of banks to finance its construction. The deal was signed by the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development, the African Development Bank (AfDB), the Green Climate Fund (GCF), and the Arab…

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