Inspiring Africa's Sustainable Business Growth
AFRICA – The UK government’s development finance institution British International Investment (BII) plans to invest US$200 million in a joint project with Norway’s Norfund to construct at least three hydroelectric power projects in Africa. The two institutions will equally split a 49% shareholding in a joint venture with Norway’s Scatec ASA for the projects, BII said in a statement. These…
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SOUTH AFRICA – Norfund, the Norwegian Investment Fund for Developing Countries, has invested US$8m in South Africa-based raisin processor and distributor, Redsun Dried Fruit and Nuts. The equity investment will be channelled towards expanding Redsun’s operations with two new state-of-the-art facilities that will help it grow its market share in the healthy snacks market. As part of the plan, growth…
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GHANA – Norfund, a development finance institution has invested US$7.5 million in Continental Blue Investments Ghana Limited (CBI) to create jobs while reducing emissions. The investment has been made alongside the Danish Investment Fund for Developing Countries (IFU) and the engineering firm FLSmidth as equity investors. Société-Générale is providing senior debt that is guaranteed by the Danish Export Agency. FLSmidth…
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SOUTH AFRICA – The South African renewable energy industry today received a R600 million (US$39.22m) boost from Norfund, the Norwegian investment fund for developing countries, and CDC Group, the UK’s development finance institution (DFI). The organisations have invested in H1 Capital, a South-African black-owned and managed renewables investment and development company. Norfund will provide R360 million (US$23.53m) and CDC to…
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SUB-SAHARAN AFRICA – AgDevCo, a specialist investor in early-stage African agribusinesses, has announced a US$90 million package of new funding from the CDC Group, Norfund and DFC which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa. This is in addition to the announcement of supplementary funding of up to US$5.4 million from CDC,…
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SOUTH AFRICA – Norwegian development finance institution, Norfund, and the UK Climate Investments (UKCI) have announced that they will jointly finance the 40% equity participation of H1 Holdings and Pele Green Energy into a 700 MW portfolio of onshore wind farms in South Africa. A joint venture of H1 Holdings and Pele Green Energy will invest in wind energy projects…
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SOUTH AFRICA – UK Climate Investment (UKCI) and Norfund have announced that they will finance what will become one of South Africa’s largest renewable energy equity deal valued at around US$100 million, reports ESI Africa. The financing is a joint venture between H1 Holdings and Pele Green Energy for a 40% equity participation in a 700MW portfolio of onshore wind…
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KENYA – Standard Bank Group, Citi, CDC Group and Norfund have partnered to provide a US$75 million Sustainable Finance Facility for Greenlight Planet Kenya. The landmark facility is one of the first sustainability-linked deals in Kenya, and one of the largest syndicated sustainable finance deals in the region to be provided in local currency. The transaction will allow Greenlight Planet…
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WEST AFRICA – The Facility for Energy Inclusion (FEI) has acted as lead arranger for a €60million (US$70.89m) multi-country facility for AktivCo SAS’ subsidiaries in Chad, Niger, Cameroon, Ivory Coast, and Burkina Faso. FEI will provide €27 million (US$31.90m) of the total amount and is being joined by Proparco which will provide €16 million (US$18.90m), Norfund €9 million (US$10.63m) and…
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KENYA – Solar kits company d.light, has raised US$11.9 million to power its expansion in Kenya as it eyes a bigger share of the solar energy market. Delhi based d.light design, which provides affordable lighting and power solutions raised the funds from Norfund, the Norwegian Investment Fund for Developing Countries, through its capital raising vehicle Brighter Life Kenya 1 Limited…
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