Browsing: Department for International Development (DFID)

• • The transaction marks the successful outcome of BII and I&M’s equity partnership for over 7 years as AfricInvest takes over.
  • The institution said that the sale to a like-minded investor is one of the most significant transactions in East Africa in recent years and represents a vote of confidence in the region’s financial services sector.
  • It is listed on the Nairobi Securities Exchange, and the Rwandan subsidiary I&M Bank Rwanda PLC is listed on the Rwanda Stock Exchange.

  British International Investment (‘BII’)

• British International Investment (‘BII’), the UK’s development finance institution and impact investor, has sold its 10.1 per cent stake in I&M Group PLC, the Eastern African banking group, to AfricInvest, a leading Pan-African Asset Management platform.

  The acquisition was made through East Africa Growth Holding, a special-purpose vehicle owned by AfricInvest.

• I&M Group PLC is a leading banking group in Eastern Africa with a presence in Kenya,

The African Academy of Sciences (AAS) is announcing the second round of calls for a multi-million-dollar research programme led and implemented by African scientists, working collaboratively to address challenges faced by people in African countries.

A total $72M has been invested into the second phase of the Developing Excellence in Leadership, Training and Science in Africa (DELTAS Africa) programme, a flagship programme of the AAS.

A similar investment was made in the first phase of the programme was implemented with the support of Wellcome and the Department for International Development (DFID). AAS is announcing a second call with support from Wellcome with additional funding to be announced in the future. This second phase will run from 2021 to 2025.

This follows a successful first five-year programme with the second round extending its remit to new priority research areas including non-communicable diseases, public health research, social sciences and humanities, implementation science …

Rwanda has maintained its position as the leading country in East Africa on the ease of doing business, the latest World Bank ‘Doing Business 2020’ shows.

This is despite dropping nine places to 38 globally from 29 last year.

READ  ALSO:How Rwanda has strategically positioned itself as an investment hub

Kenya comes in second in the region and 56^th globally, having improved five places from position 61 last year.

READ:Kenya ranks 61 from 80 in World Bank’s Ease of Doing Business

Uganda and Tanzania come a distant 116 and 141 globally respectively while DR Congo and South Sudan are near the bottom ranking 183 and 185 respectively, out of the total 190 in the index. This places them third fourth fifth and sixth respectively in the region.

Indicators that make Rwanda top include starting a business which has been made easy by exempting newly formed small and …

UK’s Department for International Development (DFID) run and managed CDC, the mission is to support the building of businesses throughout Africa and South Asia, to create jobs, and to make a lasting difference to people’s lives in some of the world’s poorest places.

The public limited company has been working with various entities in the continent to develop structures for harnessing renewable energy in East Africa. This has been necessitated by the rising energy needs in the region as well as need for cleaner green energy worldwide.

In 2017, CDC invested in a joint venture alongside the Aga Khan Fund for Economic Development (AKFED) and Industrial Promotion Services (IPS) to develop and finance power projects in sub-Saharan Africa, mobilizing project funding of over US$ 1billion.

The platform’s flagship development project is the creation of the 147 MW Ruzizi III hydropower project to be located in the Great Lakes region (Rwanda, …