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Week commencing 23 April
Shareholders of East African bank NIC Group have approved its merger with the Commercial Bank of Africa, paving the way for the two companies to create the third-biggest bank by assets in East Africa. Subject to regulatory approval, NIC expects the process to be concluded in the third quarter of 2019.
Reuters 17 April
Dutch development bank FMO has approved a $10.5m secured loan facility for Yalelo Tilapia farm in Zambia, a sustainable aquaculture producer. FMO believes Yalelo has the potential to become a large-scale regional player by implementing world-class farming operations and a data driven scientific approach.
Africa Global Funds 19 April
The US Agency for International Development (USAid) is leading a $2m finance project for women cocoa farmers in Ivory Coast. The project, announced by Ivanka Trump during a visit last week, will be supported by processors and chocolate makers such as Nestle, Barry Callebaut and Olam International.
Bloomberg 17 April
Kenyan-based investment company Britam Holdings has approved an anchor investment in Tiserin Capital, a south-south private equity fund. Tiserin aims to transform local industries by weaving partnerships between African companies and leading companies from emerging Asia and Latin America.
Africa Global Funds 14 April