12 Jul Norway Development Fund Bets Big on African Finance

“Norway’s state-run development fund, Norfund, is finding the fattest returns in Africa are in the financial industry.

The $2 billion fund, which is more and more concentrating its investments in sub-Saharan Africa, placed more than half its new capital last year in financial institutions. That focus helped salvage returns last year.”

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11 Jul ADB President Pledges to Support Philippines’ Build, Build, Build Program

“MANILA, PHILIPPINES (3 July 2017) — The Asian Development Bank (ADB) is ready to assist the Philippine government to deliver on its ambitious Build, Build, Build infrastructure program, including a $100 million loan to fast track priority projects in transport and water system management, ADB President Takehiko Nakao told a Philippine Transport Forum that opened today.

ADB has committed to support the government in three areas — advisory and knowledge sharing, technical assistance, and financial support, Mr. Nakao said.”

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11 Jul Donor’s call for increased financial resources for preparation of bankable infrastructure projects in Africa

“Donors from Canada, Germany, UK and Spain have called on other countries to join them in increasing financial contributions to support infrastructure project preparation in Africa so as to accelerate Africa’s transformation and increased socio-economic development through enhanced infrastructure connectivity. They observed that Africa’s regional integration efforts were being undermined by inadequate infrastructure and that this in turn, was due to the lack of bankable infrastructure projects in energy, transport, ICT and water and sanitation which could attract financing for implementation.

The donors made the call at the Oversight Committee (OC) meeting of the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund which took place at the Headquarters of the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire on 6th July, 2017. The Oversight Committee the executive body of the Special Fund composed of representatives from the contributing Donor Partners (Canada, Germany, United Kingdom, Spain, Denmark and Norway) as well as the African Union Commission (AUC) and the NEPAD Agency.”

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“On 30 June 2017, the Board of Governors (BoG) of the New Development Bank approved the Bank’s General Strategy document for 2017-2021.

The General Strategy of the Bank lays out how the NDB intends to fulfill its mandate of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.”

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03 Jul AfDB calls on credit providers to increase lending to meet demand by African MSMEs

“The African Development Bank (AfDB) has called on financial markets to increase affordable loans and provide more diverse and innovative financing instruments to Africa’s micro, small and medium sized enterprises.

Industrialization is one of the High 5s priority areas of the African Development Bank.

Credit providers need to increase their lending by at least US $135 billion in order to meet demand by African Micro, Small and Medium-sized Enterprises ( MSMEs).

In a statement to mark the United Nations’ Micro, Small and Medium-sized Enterprises Day, June 27, AfDB noted that firms with fewer than 20 employees and less than 5 years’ experience provide the most jobs in Africa’s formal sector.”

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03 Jul Nopef to fund 43 new feasibility studies

“Nopef has approved financing for 43 new projects in 2017 for a total value of approx. EUR 1.3 million. The funded companies are expected to raise total investments of EUR 86 million once they establish a local presence in the project countries.

“We see a strong interest for the feasibility study grants and we have approved projects in several new countries this year. The amount of applications received in the two first quarters is in line with previous years, but geographically we have a more diversified project portfolio than before, with increased activity in Southeast Asia and Africa,” says Senior Manager Mikael Reims at NEFCO.”

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26 Jun Invitation to investors interested and experienced in East Africa, August 24, 2017

Swedish-East Africa Chamber of Commerce (SWEACC) has taken the initiative to establish a cluster within the area of Investment & Financing focused on Eastern-Africa.

The initiative is taken together with the Eastern Africa Association (EAA) represented by their CEO, John Small. The EAA was established over 50 years ago and is registered in the UK but its main focus is on foreign investors doing business in the region, which primarily covers Kenya (where they have a fully-staffed office in Nairobi), Uganda, Tanzania, Rwanda and Ethiopia. Its membership includes over four hundred investors from more than 25 different countries representing all major sectors of business investment, in agriculture, industry, commerce, IT and financial services.

In this initiative, SWEACC will be supported by Mrs Ayesha Amilon. Ayesha has long experience of Investments and Financing in the sub-Sahara region from Ericsson and her own company.

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26 Jun Achim Steiner takes office as Administrator of the United Nations Development Programme

“The UN Development Programme (UNDP) today welcomed Achim Steiner as he begins a four-year term as Administrator of the Organization.

Mr. Steiner’s appointment as the new head of the UN’s lead development agency was confirmed by the UN General Assembly in April this year, following his nomination by Secretary-General António Guterres.

UNDP works in some 170 countries and territories across the world to help them eradicate extreme poverty, strengthen good governance, and prevent and respond to crises.”

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26 Jun IMF Managing Director Christine Lagarde and EIB President Hoyer confirm “valued and valuable” cooperation in and outside EU

“The EIB and the IMF are doing more together to promote economic stability in Europe and beyond. At a meeting today at the headquarters of the EU bank in Luxembourg, EIB President Werner Hoyer and the Managing Director of the International Monetary Fund Christine Lagarde took stock of progress of complementary efforts by the two institutions.”

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19 Jun AGF, ITC and NDF Continue their Promotion of Green Finance in Kenya

“The African Guarantee Fund (AGF), the International Trade Centre (ITC) and the Nordic Development Fund (NDF) are organising a Green Finance Conference on 21 June in Nairobi, Kenya.

AGF and ITC, with funding from NDF, have partnered to expand access to climate-focused finance for small and medium-sized enterprises (SMEs) in Africa.

A joint press release related to the event is available HERE.

NDF supports the event through a capacity development grant provided to AGF as part of an overall financing package comprising equity investment and grant and completed in April 2016. The NDF investment triggered the establishment and launch of a green guarantee product administered by AGF.”

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