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<p>The International Finance Corporation – along with other Development Finance Institutions – has extended a joint financing package to South Africa’s Aspen. The 600 million euro package will help Aspen to refinance existing debt and strengthen the company’s balance sheet. This will in turn support Aspen’s operations; including production of vaccines, and other therapies in African and emerging markets. Makhtar Diop, Managing Director of the International Finance Corporation joins CNBC Africa for more.</p>


DFIs extend 600mn euro joint financing package to Aspen

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<p>A recent report by the International Finance Corporation in partnership with the European Commission an data from e-commerce platform Jumia shows that by closing the gender gaps by 2025, Africa’s e-commerce sector could add nearly 15 billion dollars to the total value of the sector in Africa by 2030. Juliet Anammah Chairwoman Jumia Nigeria and Head of Institutional Affairs at the Jumia Group joins CNBC Africa for more.</p>


Report: Africa’s e-commerce could add $15bn if gender gaps close between 2025-2030

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<p>International Finance Corporation has done a study on women and ecommerce in Africa. They reckon Women are active participants on e-commerce, but the pandemic has reversed their early successes in the sector. Joining CNBC Africa for more is Alexa Roscoe, Disruptive Technologies Lead for the Gender at the International Finance Corporation.</p>


How to accelerate women participation in Africa’s e-commerce industry

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<p>MTN South Africa has entered into a $2 million partnership with the World Bank’s International Finance Corporation to expand its mobile money business. Felix Kamenga, Chief Officer for Mobile Financial Services at MTN SA joins CNBC Africa for more.</p>


MTN SA partners with IFC to expand its mobile money business

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<p>The Covid-19 crisis has severely impacted African economies with the continent going through a recession for the first time in 20 years. But how is the financial sector in Africa handling the crisis? CNBC Africa spoke to the Vice President for the Middle East and Africa at the International Finance Corporation, Sérgio Pimenta, for more.</p>


IFC’s Pimenta on the impact COVID-19 on Africa’s financial sector

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<p>Google and the International Finance Corporation estimate that Africa’s internet economy has the potential to reach 5.2per cent of the continent’s GDP by 2025. This would contribute nearly $180 billion to the economy. Driving this growth is a combination of factors; including a vibrant start-up ecosystem, and Africa’s commitment to creating the Africa Continental Free Trade Area. Joining CNBC Africa to unpack the latest report from Google &#038; the IFC is Nitin Gajria, Director at Google Africa.</p>


Africa’s internet economy projected to grow to $180bn by 2025

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<p>In its 2020 Country Private Sector Diagnostics report for Nigeria, the International Finance Corporation argues that Nigeria must focus on a wider private sector-led growth strategy to create millions of quality jobs for its population.</p>


IFC: Nigeria must focus on a wider private sector-led strategy

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<p>The International Finance Corporation is providing FirstRand Bank with Africa’s first climate loan with a blue component to the value of $225 million. Joining CNBC Africa for more is Gokhan Kont, Manager for Eastern and Southern Africa at the International Finance Corporation.</p>


IFC on supporting financial institutions to expand access to green financing

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<p>As the economic fallout from the COVID-19 pandemic continue to rip through businesses across Africa and the globe, to what extent can international and development finance institutions provide support for Africa?</p>


COVID-19: IFC moves to support Nigerian businesses hit by the pandemic


<p>WASHINGTON (Reuters) &#8211; The World Bank’s executive board is expected to consider later this week the first fast-track funds to help Afghanistan and Ethiopia respond to the coronavirus pandemic, the Bank’s president said on Sunday.</p>



<p>In a blog posted on LinkedIn on Sunday, David Malpass said funding for the projects could come out of a $14 billion Fast Track Facility (FTF) approved last week to help countries deal with the health and economic impact of the coronavirus. </p>



<p>The respiratory disease has infected more than 305,000 people around the world, and killed more than 13,000, according to the latest Reuters tally. </p>



<p>In the blog, Malpass said World Bank teams were preparing projects in 40 countries for up to $1.7 billion under the FTF.  </p>



<p>Projects in Afghanistan and Ethiopia were the most advanced and would be presented to the board this week, he said, teeing them up for formal approval. Work was also advancing on projects in 14 other countries, he said, without naming them. </p>



<p>These projects could then be quickly replicated in other parts of the same country, through funding from other multilateral development banks, or in other countries. </p>



<p>In addition, the Bank and the International Finance Corporation, the private sector arm of the Bank, were working to free up $1.5 billion in COVID-19 funding in 24 countries by restructuring existing projects, he said, without naming them. </p>



<p>The IFC was also working to start extending trade finance and working capital lines to clients, with regular board action expected on those efforts in the next two to four weeks.</p>



<p>Malpass said Bank officials were in close touch with finance ministers and central bankers from around the world to discuss their needs and responses to the crisis.  </p>



<p>Bank officials had also identified ways to support countries as they race to procure much-needed medical equipment and upgrade medical facilities. </p>



<p>(Reporting by Andrea Shalal; Editing by Peter Cooney)</p>



<p>This article was first published on Reuters Africa <a href="https://af.reuters.com/article/investingNews/idAFKBN21A0O6-OZABS">https://af.reuters.com/article/investingNews/idAFKBN21A0O6-OZABS</a> and is republished with its permission.</p>


World Bank moving forward on first $1.7 bln in pandemic aid projects

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Over the past five years, International Finance Corporation (IFC) in partnership with Rwanda Stock Exchange (RSE) have held a ceremonious event where players in the financial sector commit to bridge the gender financial gap. On the side-lines of this year&#8217;s Ring the Bell event CNBC Africa&#8217;s Arnold Kwizera caught up with IFC&#8217;s representative, Linda Kalimba Mulenga for more on the benefits of this event.</p>


How the IFC is empowering women to actively participate in Rwanda’s financial sector

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<p>The International Finance Corporation (IFC) regards the Africa Investment Forum as an interesting opportunity to meet and hear from some of Africa’s leaders and some of the key players in the private sector on what they see as the opportunities and challenges on the continent. Sergio Pimenta, Vice President of IFC in Middle East and Africa joins CNBC Africa’s Africa’s Kenneth Igbomor for more.</p>


Africa Investment Forum: IFC’s Pimenta on investment opportunities and challenges on the continent

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<p>To discuss the World Bank Group&#8217;s strategy to maximise finance for development, International Finance Corporation&#8217;s (IFC) Vice President for Economics and Private Sector, Hans Peter Lankes joins CNBC Africa for more.</p>


IFC’s Peter Lankes on how to maximise finance for development

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<p>Amidst talks of a further divestment in Nigeria&#8217;s power sector, International Finance Corporation&#8217;s Nigeria Country Manager, Eme Essien Lore says the country needs a plan of action on how Discos can over time become financially sustainable. To discuss divestment, stranded power, and a failed social contract within Nigeria&#8217;s power sector, Eme Essien Lore joins CNBC Africa&#8217;s Christy Cole for more.</p>


Nigeria’s power sector in need of recapitalisation amid disinvestment threat

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<p>The Central Bank of Nigeria has directed Deposit Money Banks to offer mobile money wallets without prior approval. Chidinma Lawanson, Financial Services Consultant at International Finance Corporation (IFC) joins CNBC Africa for more.</p>


Improving payment services in Nigeria

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<p>Amrei Botha, Senior SME Banking Specialist at the IFC joins CNBC Africa to unpack the Unseen Sector report which assesses the micro, small and medium enterprise landscape in South Africa.</p>


How SA can build a better ecosystem for SMEs

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<p>About 40 per cent of Tanzanians are still excluded from the financial system. To tackle the demand and supply-side constraints, Bank of Tanzania and the International Finance Corporation today launched a Credit Reporting Awareness and Financial Literacy Campaign. To explore more on credit reporting and why it matters for Tanzanians CNBC Africa is joined by Nkanwa Magina, Credit Reference Operations Manager, Bank of Tanzania.</p>


International Finance Corporation

DFIs extend 600mn euro joint financing package to Aspen

Report: Africa’s e-commerce could add $15bn if gender gaps close between 2025-2030

How to accelerate women participation in Africa’s e-commerce industry

MTN SA partners with IFC to expand its mobile money business

IFC’s Pimenta on the impact COVID-19 on Africa’s financial sector

Africa’s internet economy projected to grow to $180bn by 2025

IFC: Nigeria must focus on a wider private sector-led strategy

IFC on supporting financial institutions to expand access to green financing

COVID-19: IFC moves to support Nigerian businesses hit by the pandemic

World Bank moving forward on first $1.7 bln in pandemic aid projects

How the IFC is empowering women to actively participate in Rwanda’s financial sector

Africa Investment Forum: IFC’s Pimenta on investment opportunities and challenges on the continent

IFC’s Peter Lankes on how to maximise finance for development

Nigeria’s power sector in need of recapitalisation amid disinvestment threat

Improving payment services in Nigeria

How SA can build a better ecosystem for SMEs

Bank of Tanzania launches financial literacy & credit reporting awareness campaign

News Tips

Advertise With Us

International Finance Corporation

DFIs extend 600mn euro joint financing package to Aspen

Report: Africa’s e-commerce could add $15bn if gender gaps close between 2025-2030

How to accelerate women participation in Africa’s e-commerce industry

MTN SA partners with IFC to expand its mobile money business

IFC’s Pimenta on the impact COVID-19 on Africa’s financial sector

Africa’s internet economy projected to grow to $180bn by 2025

IFC: Nigeria must focus on a wider private sector-led strategy

IFC on supporting financial institutions to expand access to green financing

COVID-19: IFC moves to support Nigerian businesses hit by the pandemic

World Bank moving forward on first $1.7 bln in pandemic aid projects

How the IFC is empowering women to actively participate in Rwanda’s financial sector

Africa Investment Forum: IFC’s Pimenta on investment opportunities and challenges on the continent

IFC’s Peter Lankes on how to maximise finance for development

Nigeria’s power sector in need of recapitalisation amid disinvestment threat

Improving payment services in Nigeria

How SA can build a better ecosystem for SMEs

Bank of Tanzania launches financial literacy & credit reporting awareness campaign

News Tips

Advertise With Us

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