Africa Business in Brief | Issue 388 | 21 Feb 2021

Africa Business in Brief | Issue 388 | 21 Feb 2021

World

DFI Working Group launches report on blended concessional finance for private sector projects

The report measures private investment in development projects in which Multilateral Development Banks (MDBs) and Development Finance Institutions (DFIs) also make investments or have otherwise provided deal structuring or other support. These investments support global sustainable development goals by promoting inclusive and sustainable growth, tackling poverty and inequality, and mitigating climate change, among other impacts. Key highlights from the 2019 report include: DFIs financed projects with a total volume of more than USD10.4-billion; the private sector mobilised more than USD3.1-billion; institutions mobilised over USD3-billion for projects in Africa; and investments were mobilised primarily in the climate finance and agribusiness sectors and to support small and medium enterprises.

Source: African Development Bank

World

Hydropower Sustainability Fund open for applications until May 2021

A sustainability fund to help hydropower developers and operators assess their environmental, social and governance (ESG) performance is now open to more than 40 countries in Africa, Asia, Europe and the Americas. The Hydropower Sustainability ESG Assessment Fund will award a total of CHF1-million (USD1.02-million) to 40 or more hydropower projects over four years. The initiative is managed by the International Hydropower Association’s (IHA) non-profit sustainability division and funded by the Swiss government’s State Secretariat for Economic Affairs (SECO). Recipients will receive a grant to part sponsor the cost of commissioning an independent project assessment using the Hydropower Sustainability ESG Gap Analysis Tool (HESG), one of the internationally recognised hydropower sustainability tools. Joao Costa, head of Sustainability at IHA, said: “This fund aims to increase the number of sustainability assessments globally and advance the development of climate-friendly sustainable hydropower.” Following the first call for proposals in 2020, the fund part sponsored six assessments, including the Stortemelk project in South Africa. Hydropower project developers and operators can apply before the May 2021 deadline.

Source: ESI Africa

Africa

AAAM and Afreximbank sign an MoU to drive automotive investment in Africa

The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) for the financing and promotion of the automotive industry in Africa. Prof Benedict Oramah, president of Afreximbank and Mike Whitfield, president of AAAM and managing director of Nissan Africa, signed the MoU in early February, formalising the basis for a partnership aimed at boosting regional automotive value chains and financing […]

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