IFC plans $40 million bet on Egyptian billionaire Naguib Sawiris’ Nile Sugar desert project
The IFC is considering a $40 million loan to Nile Sugar Company, owned by Naguib Sawiris, to expand sugar beet farming in Upper Egypt.
IFC
Dangote-backed IFC deal unlocks $20 million in loans for Ethiopian small businesses
Dangote plays a central role in a $10 million IFC initiative with Dashen Bank, designed to provide Ethiopian SMEs with access to $20 million in loans, fostering entrepreneurship and financial inclusion.
IFC backs Hassanein Hiridjee’s AXIAN with $62.5 million for Wananchi deal
IFC has committed $62.5 million to support Hassanein Hiridjee’s AXIAN Telecom in acquiring East African pay-TV and broadband provider Wananchi Group.
Absa partners with IFC to launch $50-million trade facility for African farmers
This follows a recent collaboration between Absa and IFC, which resulted in a $60 million trade finance facility for Volcafe, a leading global green coffee merchant.
Laurie Dippenaar’s FirstRand secures $250 million IFC green housing loan
The funding consists of a $200 million direct loan from IFC and up to $50 million mobilized through the managed co-lending portfolio program.
Bank linked to Tanzanian billionaire brothers partners with IFC for financial inclusion in East Africa
CRDB Bank is owned in part by Aunali and Sajjad Rajabali.
Egyptian tycoon Ahmed El Sewedy’s electric company secures $150-million loan from IFC
Elsewedy Electric, an Egyptian international electrical corporation, was founded in 1938 by the El Sewedy family.
Egyptian investor Tarek Assaad’s VC firm, Algebra Ventures, secures $15 million in funding from World Bank
Assaad is also the managing partner of Ideavelopers, where he has managed $50 million in investments since 2009.