Browsing: Africa Finance Corporation

• Egypt has secured $250 million to aid its battered economy after the elections held in 2023.
• The country has been struggling, with the economy remaining on life support, while the regime continues to plough on with mega projects.
• Africa Finance Corporation and ITFC have a successful joint track record in Islamic finance, previously providing a $50 million loan to Egypt and a EUR 25 million loan to Senegal in November 2022.

Egypt has secured a $250 million loan from the Africa Finance Corporation (AFC) to better prepare for anticipated shocks, disruptions, or stress that the North African country may experience.

As the continent’s primary provider of infrastructure financing solutions, AFC will extend a $250 million Sharia-law-compliant trade loan to Egypt in collaboration with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group.

According to a statement from IFC, the loan proceeds will contribute to …

• In place of resolve to take responsibility for per capita emissions, polluting nations are instead pivoting towards carbon offsets to’ cancel out’ industrialised world emissions. (https://www.belongly.com/)
• Carbon markets stand to become a new economic mechanism promoting energy security in Africa.
• Africa’s forests absorb 600 million tons of CO2 yearly, more than any forest ecosystem on Earth.

Africa should become the global centre for high-value, high-integrity carbon credits, AFC says; Wholesale leases or sale of land undervalue Africa’s forestry while enabling polluters: AFC paper; AFC Foundation to prioritise conservation and regeneration of African carbon sinks through local capacity building.

At a critical moment in the fight against climate change, the world is squandering a significant opportunity by neglecting Earth’s most important natural carbon repositories – Africa’s forests, grasslands, peatlands and mangroves.

Carbon offsets market not delivering

The global carbon markets offer a pragmatic way to improve this course, with …

The Lobito Corridor represents a significant transport infrastructure project in Africa. The project will now become a reality with the backing of the US. Moreover, this is one of the projects through which Washington seeks to strengthen its investment ties on the continent. This project entails a transportation network that links northwest Zambia to Angola’s Benguela railway, ultimately connecting to the strategic Lobito port, the second largest seaport in oil-rich Angola.…

• Infrastructure solutions provider, Africa Finance Corporation has signed a MoU with Morocco’s Ministry of Economy and Finance to fund project development.
• Deal targets in renewable energy, transport, natural resources, heavy industries, and telecommunications.
• The Agreement follows Morocco’s official entry as a member of the AFC in 2021. The agreement will facilitate Morocco’s domestic market competitiveness and the export capacity of her businesses.

Infrastructure solutions lender, Africa Finance Corporation has signed an agreement with Morocco to provide project development, structuring, and financing for key projects in renewable energy, transport, natural resources, heavy industries, and telecommunications sectors.

The deal follows Morocco’s official entry as a member of the AFC in 2021. AFC will provide innovative financing and pragmatic solutions to enhance the infrastructure and industrial base in Morocco. Consequently, such solutions will facilitate domestic market competitiveness and the export capacity of Moroccan businesses.

Morocco sees opportunities in Sub-Saharan Africa

In the last …

Africa’s private equity landscape continues to attract investment. The operating environment, albeit still turbulent, continues to improve. Granted, the pace of improvement is higher in some countries than others, but overall there is promise of a conducive climate for business. 

The enabling environment, coupled with the accelerated digital infrastructure growth, inspires momentum in the private sector contributing to the growing middle class. This will, in turn, lead to improved employment opportunities.…

The Africa Finance Corporation(AFC) has advanced $20 million funding for the construction of Uganda’s crude oil refinery, paving the way for the start of the $4.27 billion projects.

Africa Finance Corporation signed the financing deal on the sidelines of the Africa Oil Week in South Africa mid this month.

Other financiers expected to put money into the multi-billion-dollar project include the African Development Bank, Prosper Africa, a US government Initiative that unlocks opportunities to do business in Africa and Trace and Development Agency another US-based firm.

AFC managing director Ammadou Wadda, representatives from US-based Prosper Africa Initiative, Trace Development Agency and African Development Bank president Akiwumi Adesinia attended the side event.
The investors also agreed to hold a meeting next year to discuss how to raise funds for the refinery. The refinery’s management is also expected to give details about the project and existing investment opportunities to potential investors.…