Equity Bank gets US$45.5m guarantee facilities from Proparco to support MSMEs

KENYA – French development finance institution Proparco, has granted Equity Bank two guarantee facilities, ARIZ and EURIZ totaling €39 million (US$45.5 million) to help the Kenyan bank further support job-creating MSMEs. Proparco also granted a €550,000 (US$641,432) technical assistance facility to support Equity Group Foundation’s health projects. The EURIZ guarantee and the technical assistance grant benefited from support from the…

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French government commits additional US$150m funding for African tech start-ups

AFRICA – French President Emmanuel Macron has made a new EUR130 million (US$150 million) commitment to support 500 African startups as part of a rejigged Digital Africa initiative. Launched in 2018 with the mission to equip African tech entrepreneurs with capabilities to design and scale-up ground-breaking innovations for the real economy, Digital Africa brings together startups, academia, incubators, institutional financiers,…

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Energy Services Company AktivCo SAS secures US$70.89m multi-country facility

WEST AFRICA – The Facility for Energy Inclusion (FEI) has acted as lead arranger for a €60million (US$70.89m) multi-country facility for AktivCo SAS’ subsidiaries in Chad, Niger, Cameroon, Ivory Coast, and Burkina Faso. FEI will provide €27 million (US$31.90m) of the total amount and is being joined by Proparco which will provide €16 million (US$18.90m), Norfund €9 million (US$10.63m) and…

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IFC backs Kasada Capital to support the hospitality sector in Sub-Saharan Africa

SSA – Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, has announced that IFC will form a partnership with Kasada Hospitality Fund LP by providing senior loan financing to accelerate Kasada’s strategy of building a strong and resilient hotel portfolio across sub-Saharan Africa. IFC will extend up to US$160 million of…

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International financiers inject US$700.5m into Aspen to bolster its operations amid Covid-19 vaccine drive

SOUTH AFRICA – Aspen Pharmacare has secured a US$700.5 million financing package led by International Finance Institution (IFC),  to support the pharmaceutical firm’s operations, including the production of vaccines. Joining the largest healthcare investment and mobilization globally to date were French development institution Proparco, German development finance corporation DEG and the US International Development Finance Corporation. The World Bank’s private…

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AfDB and several consortium partner to invest US$80bn in private sector of Africa

Ethiopia secures US$165M in grant funds from AfDB to bolster COVID-19 emergency response efforts

AFRICA – The private sector arm of the African Development Bank (AfDB), has committed to investing US$80 billion together with the G7 DFIs, the IFC, EBRD and the European Investment Bank, in the private sector over the next five years to support sustainable economic recovery and growth in Africa. This investment will create jobs, boost economic growth, help tackle climate…

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Solar system supplier d.light raises US$10m from Proparco to develop its activities

KENYA – d.light, a solar home systems supplier, has raised US$10 million from Proparco, the subsidiary of the French Development Agency (AFD) group responsible for private sector financing. d.light will use this investment to develop its activities worldwide, particularly in Africa. Proparco enters the capital of d.light. The subsidiary of the French Development Agency (AFD) group has invested in this…

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Private equity Ascent Capital raises US$102m to invest in SMEs across East Africa

KENYA – Private equity fund Ascent Capital has raised from US$102 million from the World Bank and top sovereign funds for investment in local companies across Eastern African. The capital was raised from the World Bank Group’s private sector arm, the International Finance Corp (IFC), the UK government-owned finance agency, the CDC Group, Dutch development financier FMO, and the French…

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Proparco set to offer loans to VSEs and SMEs in Senegal through BICIS

SENEGAL – Proparco, a Development Finance Institution partly owned by the French Development Agency (AFD), has granted a new portfolio guarantee to BICIS, for Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs) in Senegal. BICIS will offer loans that are 80% guaranteed by AFD Group the VSEs and SMEs. BICIS is the third financial institution to deploy this exceptional guarantee…

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Investment bank Societe Generale secures US$3.6m loan from Proparco to support SMEs in Mozambique

MOZAMBIQUE – Proparco, the private arm of the French Development Agency (AFD), has pledged a guaranteed loan of €3 million (US$3.6 million) to French multinational investment bank and financial services company Société Générale’s subsidiary in Mozambique to support small and medium-sized enterprises (SMEs). The guarantee will target companies operating in high-impact sectors, with a focus on agribusiness. The agreement will also…

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