Latest in Tag: IFC Highlight
Latest in Tag: IFC
New agreement to help Al Tadamun digitize and expand its services
In a Tuesday press statement the IFC said that through this partnership, it will help Rameda adopt solutions that reduce its carbon and water footprints and improve efficiencies in materials and resource usage.
IFC officials that participated in the meeting included Emmanuel Nyirinkindi, Vice President of IFC for Cross-Cutting Solutions; Vivek Pathak, IFC’s Global Head and Director of Climate Business; Sérgio Pimenta, IFC’s Regional Vice President for Africa; Yasmine Al-Hini, Country Officer for IFC in Egypt; and Marina Wes, Country Director for Egypt, Yemen, and Djibouti at the World Bank.
The IFC’s $15m investment in Algebra Fund II will help support the growth of roughly 20 tech start-ups primarily in Egypt but also in Africa more broadly. The fund, which has a target size of $90m, will have a special focus on women-led businesses and those serving rural communities.
IFC committed $5m in Disruptech, which aims to provide seed capital to up to 25 start-ups with a particular focus on financial technology services. The fund raised $25m from several investors and will be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.
The second fund will invest in companies operating in important growth sectors in Egypt, including consumer and retail goods, business services, education, healthcare, and manufacturing.
Al-Mashat praised the fruitful cooperation with the IFC, where the current portfolio amounts to $1.26bn.
Ongoing cooperation between both sides amounts to $70m
Women represent 20.6% of labour market in Egypt, while they represent about 50% of university graduates, says AmCham official
The International Finance Corporation (IFC) will provide a financing package to BCI Holding SA, a leading regional manufacturer and distributor of polyurethane (PU) raw materials, systems and specialities with headquarters in the UAE. The IFC said in a press statement that the package will allow BCI to further expand its production in Algeria, Egypt, and …
CIB issues green bonds to increase lending to businesses that want to invest in eco-friendly initiatives
University to network of qualified mentors to guide aspiring, established entrepreneurs in Egypt throughout startup life cycle
Quality process ongoing, never-ending process that requires teamwork, integral part of IDH’s strategy, says Hend El Sherbiny
Programme will advise private healthcare providers on enhancing patient safety practices
The eight-year loan will be used to finance IDH’s growth plans across new and existing markets, whilst also helping to expand access to high-quality diagnostic services in high growth emerging markets. This comes in addition to its current presence in Egypt, Jordan, Nigeria, and Sudan.
Egypt’s International Cooperation Minister meets with new IFC Vice President to discuss areas of cooperation
Both entities to conduct research, market analysis to identify challenges, opportunities fintech entrepreneurs face
Project aims to help farmers reduce their reliance on diesel-powered generators, boost their productivity, incomes
The annual event, held by the IFC and stock exchanges around the world since 2014, aims to raise awareness of the pivotal role women play supporting private sector growth and development.
The International Finance Corporation (IFC) announced a financing package, on Tuesday, for leading glassware manufacturer Pasabahce Egypt for Glass Manufacturing, to help the company boost exports, introduce cleaner production practices, and create jobs.
Under the initiative, IFC will launch a peer learning platform that brings together Egyptian companies to exchange knowledge on best practices in creating more flexible and inclusive workplaces.
Exit is designed to revolve capital, and to use it for similar investment, says Walid Labadi
Participation of women is macro-critical, it is no longer lip service, says Al-Mashat
IFC’s commitments in Egypt since 2005 has reached $4bn
Project is part of World Bank Group’s strategy to help Egypt optimise its overall domestic electricity consumption, says Globaltronics Chairperson
The fund, named SPE AIF I, is managed by SPE Capital Partners and will focus mainly on Egypt, Morocco, and Tunisia. Access to equity is especially constrained in these countries, because of macro-economic and political challenges.
$125m under “Commodity Murabaha” to improve hospitals services’ quality
The findings will inform the second phase of the project, during which IFC will help Tanmeyah implement the key recommendations based on its priorities.
State should encourage public-private partnerships in desalination, wastewater removal, renewable energy, says IFC Country Manager in Egypt, Libya, and Yemen
Following the recent Investment for Africa Forum held in Egypt on November 22nd and 23rd, we share highlights of IFC’s approach to private sector development in one of the Middle East’s largest economies.