Kenyan commercial bank Sidian Bank has secured a $15 million guarantee from Dutch Development Finance Fund (FMO) to cover the default risks of the SMEs it finances. ‘Sidian Bank is excited to partner with FMO on this NASIRA program, by allowing customers who have a shortfall on the security required for credit facilities to access much-needed credit. This guarantee facility and technical...

The World Bank validated last week a $750 million financing for South Africa. The money, granted as a development policy loan (DPL), will go for the Economic Reconstruction and Recovery Plan (ERRP). It will help accelerate the government's pro-poor and economic recovery efforts. “The World Bank budget support is coming at a critical time for us and will contribute towards addressing the...

Ugandan President Yoweri Museveni presided last week over the commissioning of the Helicopter Maintenance, Repair, and Overhaul plant. The facility is located at the Nakasongola UPDF Air Force Base. The government plans to make the facility “a hub not only for the entire East African Region, including UN Missions which use Russian helicopters, but for the entire continent.”  “A huge...

South African fund manager Vantage Capital announced it has arranged R430 million ($28 million) of mezzanine financing for the development of Seaton Estates. The latter is a residential project in the northern Kwazulu-Natal province of South Africa. The deal is the first investment by Vantage Capital's 4th mezzanine fund, which raised nearly $207 million for its first closing last July. It...

Gunfire was heard last weekend at the military bases of Kaya and Lamiza in Ouagadougou. While people fear a coup, the government quickly denies it saying shootings did happen in some army camps but it is just an act of discontent by soldiers and not a takeover of the country. In a statement yesterday, the defense minister Barthélémy Simporé also reassured that President Christian Kaboré was...

ARISE IIP, the pan-African developer and operator of world-class industrial parks has joined the International Textile Manufacturers Federation (ITMF) as a Corporate Member. Arise IIP identifies industrial gaps in African countries to unlock value and create new industries. The objective is to industrialize key sectors by creating local transformation, maximizing production, efficiency, and...

Zambia reached a staff-level agreement with the IMF last December on a $1.4 billion ECF arrangement. Before the agreement is fully validated, IMF requires the country to show better debt management performances. Meanwhile, the Zambian government expects the deal to be finalized by the end of H1 2022. “We are well on the way of solving this issue of unsustainable debt. We expect full...

The year 2021 saw a rise in private equity and venture capital financing in Africa, driven by opportunities in the post-pandemic period. The overall value of non-bank and non-market financing transactions on the continent last year reached at least $10.7 billion. Based on official market data, this figure may be higher, because of the 703 operations identified (only 445 are reported). The...

Egypt has been multiplying efforts in recent years to reach the United Nations' sustainable development goals. In its Egypt Vision 2030 agenda, the government plans to focus on improving its social, economic and environmental standards. As part of this framework, it signed a deal with the United Nations Industrial Development Organization (UNIDO) to develop eco-friendly industrial zones in the...

Africa inaugurated last January 18 a Covid-19 vaccine production unit in Cape Town, the government officially reported. The initiative aims to accelerate Africa's self-sufficiency in pharmaceuticals, biologics, and vaccines. The output of the -Nant SA- facility will benefit all African countries. “This state-of-the-art vaccine manufacturing campus that we are officially launching today...