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IFC Asset Management Company has committing up to $35mn in equity to support the modernisation and expansion of HeidelbergCement AG in West Africa, utilising the IFC African, Latin American and Caribbean Fund (ALAC Fund) - a co-investment fund that invests alongside IFC in equity investments in Sub-Saharan Africa, Latin America, and the Caribbean, providing growth capital for private enterprises in these regions.
South Africa's Women Investment Portfolio Holdings and limestone miner Continental Cement have announced a joint venture with the China-Africa Development Fund and Jidong Development Group to build a R1.65bn cement manufacturing plant in Limpopo province.