IFC launches $4 Billion platform to support small businesses in emerging markets
Industry and Investment News
Hi all,
it’s time again for our investment and industry news roundup covering Sub-Saharan Africa.
Our highlights this week:
The IFC has launched a platform to provide up to $4 billion to small businesses in emerging markets, focusing on women-owned firms and those in agriculture and climate sectors.
Namibia and South Africa have announced a partnership to develop Africa's first green hydrogen pipeline, marking a significant step towards advancing renewable energy infrastructure on the continent.
Kenya has started constructing the world’s first green garment factory made from recycled containers
Keep reading to learn more!
😍 Investment news we love:
Green financing
The AfDB launched a EUR 500 million short 4-year Green Benchmark bond due March 2028 with a 2.875% coupon to finance eligible green projects.
Genesis Energy Group Limited to mobilize US$10 billion for strategic climate investments in green energy and renewable energy projects.
SME focus
Coris Holding to increase financing for micro, small, and medium-sized enterprises (MSMEs), particularly those led by women, in underserved areas of Mali, Niger, Burkina Faso, and Senegal.
Accion has launched the $152.5 million Digital Transformation Fund to provide capital to financial institutions serving small businesses.
UBA Kenya has received a $282 million loan from its parent company to lend to small and medium-sized enterprises (SMEs).
The IFC launched a program to provide up to $4 billion to small businesses in emerging markets, focusing on women-owned firms and those in agriculture and climate sectors.
Venture Capital
OpenseedVC has launched its $10 million early-stage fund to invest in tech startups across Africa and Europe, offering up to $150,000 in starter cheques.
What's worth knowing in:
💡 Energy and infrastructure
South Africa/Namibia: Namibia and South Africa have announced a partnership to develop Africa's first green hydrogen pipeline.
Mali: Mali begins construction of West Africa’s largest solar plant with Russian support
South Africa: A co-development consortium of Hive Hydrogen, Akuo Energy Afrique, Africoast Investments, and Golden Sunshine Trading has reached a significant milestone in developing a giga scale solar project.
🚕 Mobility and transport systems
Namibia: Cleanergy Solutions Namibia, in collaboration with CMB.TECH, Port of Antwerp Bruges, and Namport, plans to launch Africa's first hydrogen-powered ship in two years.
Nigeria: Swap Station Mobility Limited has signed a partnership agreement with Glovo and Siltech World to deploy electric motorbikes, smart swappable batteries, and quick interchange stations in Lagos.
Botswana: Giyani Metals has secured a $26 million investment to produce low-carbon, high-purity battery grade manganese for the EV industry
Senegal: The Rapid Transit Bus system in Dakar has started operations, providing a new 100% electric transport option across several communes.
🏭 Industrialisation
Kenya: Kenya has started constructing the world's first green garment factory made from recycled containers, expected to save 18 tonnes of CO² and 1,000 cubic metres of water annually.
Ghana: Ghana's Vice President Bawumia has commissioned a waste recycling plant with a 400-ton-per-day capacity in Kperisi.
South Africa: South Africa has inaugurated the Nuclear Medicine Research Infrastructure in Pretoria, a first-of-its-kind facility in Africa focused on nuclear medicine training and research..
South Africa: Alpla Group is building its first plastics recycling plant in South Africa with a collaboration with local waste management company Re-purpose to collect waste PET.
🌆 Urban areas
South Africa: The IFC will lend $250 million to South Africa's FirstRand Ltd. to boost loans for green buildings.
Kenya: Stanbic Bank, MiDA Advisors, and Acorn Holdings have secured $700 million in long-term blended finance commitments to develop affordable green student housing in Kenya.
💻 Digital transformation
Kenya: Kenya is set to establish a 1,000 MW data center powered by geothermal energy, as part of a $1 billion digital investment package announced by Microsoft Corp. and G42.
Rwanda: East African digital postal service MPOST has launched its e-P.O.Box system in Rwanda, enabling Rwandan citizens to convert their mobile phone numbers into virtual postal addresses.
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Thanks for reading,
Carolin