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- d.light and Chapel Hill Denham have closed $7.4 million in securitized financing to fund off-grid solar expansion in Nigeria
- The financing by Chapel Hill Denham’s Nigeria Infrastructure Debt Fund aims to scale up d.light’s low-cost pay-go offering of affordable, solar-powered products targeted at low-income households.
- This transaction signifies a pivotal stride in sustainable infrastructure investment in Nigeria, says Bolaji Balogun, CEO of Chapel Hill Denham.
d.light, a global provider of household products and affordable finance for low-income households, and Chapel Hill Denham, Nigeria-based alternatives asset manager, have announced closing a landmark $7.4 million (N10 billion) securitized financing facility.
This new financing, provided by Chapel Hill Denham’s Nigeria Infrastructure Debt Fund, aims to scale up d.light’s low-cost pay-go offering of affordable, solar-powered products targeted at low-income households.
The financing structure was set up and sponsored by African Frontier Capital, which also acts as the master servicer and backup …
- Official data shows that diaspora remittances to Kenya increased to $412.4 million in January 2024, compared to $372.6 million in December 2023.
- This represents an 18% jump compared to similar month in 2022 as well as 10.7% month-on-month increase in inflows.
- The cumulative inflows for the 12 months to January 2024 totalled $4.3 billion compared to $4 billion in the same period in 2023, an increase of 5.3 per cent.
Kenyans in the diaspora sent home more money in January compared to December, as the strong start of the year signals easing inflationary pressures, mainly in key source market, the United States.
The year-over-year inflation rate in the US, Kenya’s most significant source of remittances, fell to 3.1 per cent in January, the lowest since June.
This was down from 3.4 per cent in December, the Bureau of Labor Statistics said, but the annual inflation was higher than the …
- Developers targeting Kenya’s wealthy are now pricing the units in foreign currencies such as the US dollar.
- The continued upward trend in prime residential rents can be partly attributed to the appreciation of the dollar against the Kenyan shilling.
- Real estate investors are mitigating the emerging risks by deploying their capital in projects that have dollar-denominated returns where possible and in green-rated building.
High-end real estate developers targeting Kenya’s wealthy are now pricing the units in foreign currencies such as the US dollar to cushion them from losses that the devaluation of the Kenyan shilling may occasion.
New revelations contained in a report by property tracker and real estate management firm Knight Frank show that the trend gained traction in the second half of 2023 as foreigners residing and working in Kenya continued playing a pivotal role in driving the country’s upscale real estate market.
Despite economic headwinds, the prime …
- Japan’s Toyota Tsusho Corporation will invest $5 million (KES800 million) in the Kenya Thika Vehicle Manufacturing initiative.
- A total of $93.7 million (KES 15 billion) will go towards the Meru Wind Farm Energy project, while $49.9 million (KES8 billion) will be invested in the Isiolo Solar Energy initiative.
- Japan is also readying $468.5 million (KES75 billion) for Kenya’s Menengai Geothermal Plant, as the Asian country promotes clean energy solutions.
In a move poised to reshape Kenya’s industrial landscape, Kenya and Japan have jointly announced plans to invest an estimated $617.2 million in East Africa’s largest economy, with a focus on bolstering key sectors of vehicle manufacturing and renewable energy.
This investment initiative marks a pivotal moment in the bilateral relations between Kenya and Japan, promising to unlock new opportunities for economic growth, employment for the youth, and sustainable development.
The cornerstone of this investment endeavor was laid this week with …
- According to authorities, tapping into DRC’s mineral wealth will yield significant returns for investors and contribute to the Congolese population’s socio-economic advancement.
- This strategic approach resonates with President Félix Antoine Tshisekedi’s agenda to foster job creation and entrepreneurial opportunities.
- Canadian mining giant Ivanhoe Mines is cited as an example of a “modern investor” doing business in DRC.
The Democratic Republic of Congo (DRC) is embarking on a bold mission to harness its untapped mineral wealth, valued at $24 trillion, by courting “modern investors” to drive its mining-powered development plan.
At the forefront of this initiative is Mr. Miguel Kashal Katemb, the Director General of the Regulatory Authority for Subcontracting in the Private Sector (ARSP), who articulated the nation’s aspirations at the 30th annual Mining Indaba in Cape Town, South Africa.
In his address to the audience of investors, Mr Katemb underscored the DRC’s openness to all investors while emphasising the …
- By 2030, partners of the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) aim to cultivate 350,000 hectares of land for profitable production.
- Using the SAGCOT model, Tanzania aims to achieve self-sufficiency in food production to feed Africa by the same year.
- Agriculture in Tanzania currently contributes nearly 30 percent of the country’s GDP and employs over three-quarters of the nation’s workforce..
The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) has achieved significant success over the last decade since its establishment in 2010. Tasked with promoting inclusive, sustainable, and viable agricultural value chains in southern Tanzania, the organization has notably enhanced agricultural productivity.
SAGCOT has established production clusters, including Ihemi, Mbarali, and Kilombero, in southern and Morogoro. Through these agricultural clusters, SAGCOT has successfully increased food production, developed value chains, and elevated household income for farmers.
“I am truly impressed with the work of the SAGCOT Centre Limited and its …
- The Romania-Tanzania alliance is taking shape with President Iohannis signing two major trade MoUs with the African country.
- This is part of Tanzania President Samia’s move to woo European investors to her country’s agriculture sector.
- Romania-Tanzania ties seem to offer immediate gains with the European country assuring Dar es Salaam of food security even as the Ukraine-Russia war persists.
A fresh alliance, Romania-Tanzania, is taking shape, with the European country betting on the East African nation to grow its presence and influence on the continent significantly as it forges “strategic approaches to Africa.”
President Klaus Iohannis made the assertion during his recent visit to Tanzania. In a four-day state tour, he engaged with the government and investors in Tanzania’s mainland and the island of Zanzibar.
During his visit, at least two Romania-Tanzania agreements were signed by President Iohannis and his counterpart, Dr. Samia Suluhu Hassan.
Romania-Tanzania strategic partnership
While the …
- Next month, the 2nd Canada-Africa Business Conference in Nairobi signifies an opportunity for stakeholders to explore avenues for investment.
- Canada has been one of Kenya’s big trade partners with Kenyan exports to Canada estimated at US$18.71 million in 2022.
- The Canada-Africa Business Conference is a testament to the growing economic ties between the two regions.
Nairobi will host the second Canada-Africa Business Conference slated for February 2024, as the North American country looks to increase its grip on regional investments.
The Canada-Africa Chamber of Business announced that the annual gathering slated for the 19th to 20th of February 2024 in Nairobi, will be inaugurated by Kenyan President William Ruto and will seek to foster bilateral trade relations and investment opportunities between Africa and Canada.
The conference will serve as a platform for government officials, business leaders, and entrepreneurs from both nations to engage in constructive dialogue, explore potential collaborations, and …