Africa Finance Review

Industries

OPEC Fund Signs $40 million Loan with Africa's Leading Agriculture Commodity Trader

The OPEC Fund, the development finance institution for the Organisation of the Petroleum Exporting Countries (OPEC) member states, has entered into a $40 million loan agreement with ETC Group, a prominent agriculture and supply chain operator in Africa. Why does this matter: The loan is the OPEC Fund's

Trade Finance

British International Investment (BII) and Absa Group Agree $150m Trade Finance Deal

British International Investment (BII) has recently formalised a substantial agreement to establish a $150 million trade liquidity program in collaboration with South Africa's Absa Group.  This strategic initiative is timely as African economies strive to transition from a reliance primarily on the export of unprocessed natural resources to

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Insights

Africa's Latest Unicorn

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Insights

The Rise of Credit Guarantee Finance.

Infrastructure Finance

African Developer and Operator of Integrated Industrial Zones Secures $443m for Expansion.

Arise Integrated Industrial Platforms (ARISE IIP), a prominent African developer and operator of integrated industrial zones, has successfully secured an investment totalling $443 million. The funding comprises $300 million from the Fund for Export Development in Africa (FEDA), under the management of Afreximbank, and an additional $143 million from Africa

Eurobond

Africa Finance Corp Returns to Eurobond Market with $500m Oversubscribed Bond.

Africa's leading infrastructure solution provider, the Africa Finance Corporation (AFC), has re-entered the international debt markets impressively by issuing a $500 million 144A/Reg S Eurobond.  Why does it matter: The recent interest rate reduction by the US Federal Reserve, the first in nearly four years, has created

Nigeria's Leading Mortgage Company Secures $228 million Long-Term Blended Finance Facility.

Nigeria Mortgage Refinancing Company ( NMRC) has secured a substantial $228 million long-term blended finance facility. Why does this matter: The mortgage market in Nigeria is experiencing growth as more Nigerians grow use to consumer credit to realise their homeownership aspirations, acquire significant household assets, and purchase vehicles. According to the

Private Credit

Tanzania's CRDB Bank Secures $200million Facility from Citbank and U.S DFC.

Citibank, the US banking division of Citigroup, and The U.S. International Development Finance Corporation (DFC)  have collaborated to offer CRDB Bank Tanzania, the largest commercial bank in Tanzania, a significant financing package of $320 million.  Why does this matter: This partnership is crucial as it addresses the challenge of

Economics

Nigeria's Foreign Reserve Grows to $37.31 billion a 22- Month High

Nigeria's economic policy, known as Tinubunomics, is demonstrating positive outcomes, as evidenced by the growth of the country's foreign reserves to $37.31 billion.  Why does this matter:  The economic strategy, spearheaded by President Tinubu, has encountered several challenges, including removing the fuel subsidy, rapid devaluation

Briefings

This Week in Africa-The $90 Billion Power Move

Plus Public Investment Corp (PIC) debt investment, Coca Cola's $1billion investment in Nigeria, Helios lead $100m investment in API infrastructure fintech 1- Energy World Bank Unveils Ambitious $90 Billion Plan to Electrify Africa  The World Bank has announced a $90 billion investment in Africa's electricity sector

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Insights

Africa Private Credit: The Next Frontier

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LPs Indicate Strong Appetite for Impact Investing in Africa

Private Credit

Nigeria's FCMB's Asset Management Launches $63 Million Private Credit Fund.

FCMB Asset Management, the asset management subsidiary of FCMB, plans to launch a $63 million private credit fund targeting mid-sized Nigerian companies. Why it's important: In Nigeria, many mid-sized growth companies have well-structured operational models and clear paths to profitability. However, these companies struggle to access funds for

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Insights

Investment in Africa's Energy Transition Gains Momentum

Infrastructure Finance

African Infrastructure Investment Managers (AIIM) Completes First Close of 4th Fund At $230 million.

Africa Infrastructure Investment Managers, an infrastructure private equity firm with $2.8 billion in assets under management (AUM), has successfully completed the initial closing of its African Infrastructure Investment Fund 4 (AIIF4) at $230 million, with a target size of $500 million. Some Context : The fund, which has a 13-year

Economics Featured

Ethiopia Floats Currency In Economic Reform.

Ethiopia has implemented the flotation of its birr currency in the open market as a measure to stabilise the currency and address the increasing demand for foreign currency needed for exports and economic initiatives. Why is this important: The Ethiopian government has recently implemented significant measures aimed at enhancing its

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Insights

Power Play: Private Capital and The Business of African Sports.

Bonds Featured

Cameroon Issues $500million Bonds in Private Placement.

Cameroon has recently made its debut in the international credit markets through the issuance of $500 million in bonds. Despite the heightened interest rates, these bonds have garnered significant demand from various African nations namely Kenya, Ivory Coast, Senegal since the outset of 2024, thereby bolstering fiscal capabilities and enabling

Ratings

African Union To Establish Its Own Credit Rating Agency.

The African Union (AU) a continental union of 55 member states is planning to launch its own credit rating agency according Bloomberg. Why is this important: This initiative is motivated by a growing concern among African governments about the objectivity of major credit agencies' assessment of African countries, which

Industries

Tanzania's Amsons Group $180 million Acquisition of Kenya's Bamburi Cement.

Amsons Group, a Tanzania-based family-owned conglomerate, has proposed a significant $180 million acquisition bid for the entire stake of Kenya-based Bamburi Cement through its Kenyan subsidiary and investment vehicle, Amsons Industries Ltd. Why does it matter: This move lies in the fact that it is regarded as one of the

Briefings

GPs and LPs Activities

This week's interesting GPs and LPs dealmaking events * Star Garments, a Sri Lanka-based apparel manufacturing company, has secured a $15 million loan from the International Finance Corporation (IFC) to build Togo's first large-scale, export-focused apparel manufacturing center. * Ghana-based Oasis Capital has announced the first close of

Merger and Acquisition Featured

Moody's Completes Acquisition of African Credit Rating Agency GCR Ratings.

Moody's, the global rating agency, has completed the acquisition of GCR Ratings, a prominent credit rating agency in Africa, gaining full ownership. Why does it matter : GCR Ratings has a strong presence in several of Africa's most robust economies, including South Africa, Nigeria, Kenya, and Mauritius.

Briefings

GPs and LPs Activities

A weekly round of GPs and LPs activities. * Global Social Impact Investments (GSI), an impact investment fund manager, has secured a €15 million commitment from the Spanish Agency for International Development Cooperation (AECID). This will increase GSI's investing capacity in high-impact African companies. * Renew Capital, an Africa-focused impact

Insights

Africa Energy Bank: A Potential Game-Changer

A group of petrostates in Africa, represented by the Africa's Petroleum Producers Organisation (APPO) and Afreximbank, have collaborated to create the Africa Energy Bank with an initial capital of $5 billion. The bank funded by member states, with participation from other African investors as shareholders and national oil

Industries

Africa Data Centres Raises $110 million for Expansion.

Africa Data Centres, the largest operator and owner of interconnected, carrier, and cloud-neutral data centre facilities in Africa, has secured $110 million to meet the growing demand for cloud computing services in South Africa. Why is this important: This development holds significant importance as the continent’s expanding digital infrastructure