US asset manager Everstrong Capital plans to raise nearly $45 million for its investment fund Kenya Infrastructure Fund dedicated to financing a variety of projects related to water, health, transport, information and communication technologies (ICT), with a focus on the energy sector.
The investment vehicle to be deployed in Kenya has already received commitments from private and institutional investors. Its first closing is announced for Q1 2021.
“We are in the middle of the fundraising and have had a successful 12 months talking to local and international investors, where we have received several commitments. We expect the first close in the first quarter of next year,” said Henry Kyanda, CEO of Everstrong.
The U.S. manager recently opened a representative office in Kenya following the one in South Africa. Everstrong Capital, which operates two power generation companies in Kenya, will be able to strengthen its presence and operations in the country with its dedicated project finance vehicle.
Chamberline MOKO
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...
Up to 15,000 tourism jobs in Austria targeted for Tunisian workers Program expands beyond France under broader EU partnerships Initiative seen as...
New Johannesburg center aims to train partners and expand AI capabilities Focus on moving local firms from resellers to solution developers Initiative...
AfDB launches initiative to redesign how Africa mobilizes and deploys capital Financing gap exceeds $400 billion despite large domestic...
Ethiopian Airlines and Asky plan a regional aircraft maintenance hub West Africa faces a shortage of MRO infrastructure Project enters a growing but...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...