Private equity firm Actis has raised US$1.15bn through its third energy fund, which will be used for investment in electricity generation and distribution businesses in Latin America, Africa and Asia
Banking & Finance
Ecobank opens first office in Ethiopia
Pan-African bank Ecobank Transnational Incorporated (ETI) has set-up its first branch in Ethiopias capital city Addis Ababa
ADF’s partial risk guarantee for Lake Turkana project
The first of the African Development Fund’s Partial Risk Guarantees (ADF PRG), the Lake Turkana Transmission Line Delay Partial Risk Guarantee, has been approved for US$27mn
Econet Wireless Zimbabwe launches Steward Bank
Econet Wireless Zimbabwe has a launched a new bank following its acquisition of TN Bank in January 2013, according to TN Bank CEO Kwanele Ngwenya
AfDB extends funds for Mauritius Commercial Bank
The African Development Bank (AfDB) has approved funds worth US$120mn multi-sector line of credit (LOC) and US$30mn subordinated debt to the Mauritius Commercial Bank (MCB)