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Tag: IFC

IFC partners with pharmaceutical producer, Rameda to green its operations in Egypt

EGYPT – The International Finance Corporation (IFC), a member of the World Bank Group, has partnered with Egyptian pharmaceutical producer, Rameda to support the company’s strategy to green its operations Through the partnership, IFC will help Rameda adopt solutions that reduce its carbon, and water footprints, and improve efficiencies in materials and resource usage. As a growth-focused enterprise that produces…

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IFC becomes Equity Group’s second largest shareholder after acquiring 6.71% stake

KENYA – The International Finance Corporation (IFC), a member of the World Bank Group, and the IFC Financial Institutions Growth Fund has acquired a 6.71% stake in financial service company Equity Group, becoming the second-largest shareholder after Arise BV of Norway and Netherlands. The acquisition was revealed during a partnership agreement which will see IFC inject KSh19 billion (US$165 million)…

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Financial service Business Partners secures US$42m loan package from IFC

SOUTH AFRICA – IFC, a member of the World Bank Group, has announced a R600 million (US$42 million) loan package to Business Partners Ltd, a South African non-banking financing entity specialized in providing finance, mentorship, and support programs to SMEs. This is IFC’s first loan in South Africa exclusively dedicated to green lending for commercial properties. The investment will be…

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IFC partners Lagos State to expand access to sustainable urban transport

NIGERIA – IFC has partnered with the Lagos State Government to support the development of two bus corridors in the city. The projects are expected to benefit more than 150,000 passengers per day including by reducing commute times for residents. The partnership is expected to also increase access to public transportation and reduce vehicle emissions in Lagos. Through the partnership,…

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IFC invests US$15M in Algebra Ventures to support Egyptian tech start-ups

EGYPT – The International Finance Corporation (IFC) has announced the second investment of US$15 million into venture capital firm Algebra Ventures to support tech start-ups with access to finance and drive innovation and job creation primarily in Egypt. The investment will help support the growth of roughly 20 tech start-ups primarily in Egypt but also in Africa more broadly. The…

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IFC grants US$25M to Atlas Tower Kenya to develop telecoms towers in Kenya

KENYA –International Finance Corporation (IFC) has granted US$25 million to Atlas Tower Kenya, an independent provider of wireless infrastructure, to develop telecoms towers expanding digital access in Kenya. IFC’s debt financing package, supported by co-financing from institutional investors through IFC’s Managed Co-Lending Portfolio Program (MCPP), will provide Atlas Tower Kenya with the capital it needs to develop and install the…

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IFC partners Egypt’s MSME Finance Federation to expand access to finance for micro-businesses

EGYPT – International Finance Corporation (IFC) has partnered with Egypt’s Medium, Small, and Micro-Enterprise Finance Federation to expand access to finance for micro-business across Egypt. Through the partnership, IFC and the Egyptian MSME Finance Federation will provide training, coaching, and mentoring to 41 of Egypt’s smaller MFIs. The training will be on corporate governance, credit methodology, risk management, internal audits,…

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FONSIS partners IFC to strengthen the supply of affordable housing in Senegal

SENEGAL – Senegal’s Sovereign Strategic Investments Fund (FONSIS) has partnered with International Finance Corporation (IFC) to enhance the supply of affordable housing in Senegal. The partnership will develop 20,000 housing units for the next 8 to 10 years through a special fund called Kajom Capital. Under the agreement, IFC and FONSIS will acquire homes from developers and make them available…

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IFC launches work on solar mini-grid program to scale up clean electricity in the DRC

DRC – International Finance Corporation (IFC) has begun work with the Government of the Democratic Republic of Congo (DRC) to bring clean, solar energy to over 1.5 million homes, businesses, schools, and clinics in the country under the World Bank Group’s Scaling Mini-Grid (SMG) program. The SMG program was designed to help the DRC and other emerging countries establish public-private…

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IFC, African and European Partners launch Alliance to support private sector growth in Africa

AFRICA  – International Finance Corporation (IFC), African and European partners have launched Alliance for Entrepreneurship in Africa to support private sector growth in Africa. The Alliance will combine and focus the technical and financial strengths of its members to improve Africa’s business environment and support the growth and success of small and medium-sized enterprises (SMEs), women in business, and young…

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