IFC

Ethiopia
Safaricom seeks new loan from International Finance Corp

The Kenyan operator, which entered the Ethiopian market in 2022, is considering taking out a loan in local currency. The annual credit limit imposed by the central bank has hindered the telecommunications group's ability to secure capital to finance its operations.

The New Guard
Sudan, Morocco, Ethiopia

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

SudanAmgad Fareid Eltayeb, former communist who has the ear of Burhan

MoroccoFadoua Mezgueldi, ‘green' finance pro serving the continent

EthiopiaMistresilasie Tamerat, rising opposition figure in Addis Ababa

Cameroon
Lenders vie to finance Kribi's industrial zone

With a total estimated cost of €795m, the development project for the port of Kribi's industrial zone has already attracted several multilateral institutions in addition to the African Development Bank.

Cameroon
Kribi launches its €795m industrial zone after lengthy talks

The project is part of an industrialisation strategy aimed at backing processing units at the deep-water port of Kribi, the main access to the sea for landlocked countries in Central Africa, such as Chad and CAR.

Morocco
Lobbyist Abdelmalek Alaoui joins Zniber family service

After a difficult financial period, the agricultural holding company run by Rita Zniber is seeking to restore its image among international investors. The appointment of the influential entrepreneur to its board of directors is intended to help achieve this.

Cameroon
World Bank may activate guarantee for Nachtigal dam

Faced with unpaid bills from Eneo and limited cash flow, Yaoundé is struggling to repay a letter of credit. This situation could push the Bretton Woods institution to take drastic measures.

Cameroon
Aging network causes distribution back-up at Nachtigal dam

The partial distribution of electricity produced by the Nachtigal power station and delays in network modernisation are putting the state under financial pressure. Backers and investors are watching the state of hydroelectric projects with concern.

Morocco
Zouhaïr Bennani in running to buy Intelcia from billionaire Patrick Drahi

Talks are well underway between the boss of the Label'Vie-Carrefour stores in Morocco and the French-Israeli telecommunications tycoon, whose company is heavily in debt.

Central African Republic, Morocco
Touadéra marshalling international support for Ambition 28 in Casablanca

Bangui is organising a round table entitled Ambition 28 in Casablanca in mid-September, with the aim of mobilising international public and private investors around its National Development Plan.

Cameroon
British fund Actis struggles to finalise sale of energy firm Eneo

Ready to sell its shares in Eneo, Actis has seen the transaction put on hold due to several issues over payment terms, guarantees and transition management. Faced with these hurdles, the World Bank is pressing Yaoundé to speed up the process, in what is an already strained financial context.

Morocco
World Bank lends a hand to Société Générale Maroc

The World Bank is offering Société Générale a financing facility to ease its withdrawal from its former Moroccan subsidiary, acquired in 2024 by businessman Moulay Hafid Elalamy.

Central African Republic
Bangui brings backers together around development plan

The Central African government will organise a roundtable in Washington DC on 24 April to secure funding for its 2024–2028 National Development Plan.

Cameroon
European officials expected at Nachtigal dam inauguration

The dam on the Sanaga River will be inaugurated on 3 April.

Cameroon
Coris Bank in lead to buy local Société Générale

The government and the bank's Paris head office have agreed on a potential buyer for the subsidiary, which is the second-largest bank in the country.

Angola
Nuvibev seeks World Bank support for Refriango soft drinks subsidiary

The International Finance Corporation, the World Bank's private sector arm, is set to vote on whether to grant a credit facility to the Angolan group Nuvibev.

Ghana
Why IFC is supporting cocoa trade via local bank

The International Finance Corporation, the World Bank’s private investment arm helmed in Africa by the Franco-Portuguese Sérgio Pimenta, is due on 17 February to consider a $40m loan to Societe Generale Ghana, a 57%-owned subsidiary of the French bank Société Générale.