GridX Africa injects $7million for Renewables in Kenya

GridX Africa injects $7million for Renewables in Kenya

GridX Africa has injected KSh770 million ($7 million) investment into Two Rivers Power Company (TRPC) to expand renewable energy infrastructure for Centum Real Estate projects. TRPC is a wholly owned subsidiary of Two Rivers Development Limited (“TRDL”) and was established to ensure the provision of reliable power to the Two Rivers Development in Nairobi, Kenya. The investment marks the beginning of a larger relationship between GridX and Centum RE, leveraging Centum RE’s strong track record of building mixed-use developments serviced by captive utilities, and GridX’s experience developing and financing renewable and distributed energy infrastructure.

US DFC Approves 2nd Onlending Facility for IBLL

US DFC Approves 2nd Onlending Facility for IBLL

A $20 million loan to International Bank of Liberia Limited will provide a credit line for longer-term SME lending in Liberia, offering needed support in a challenging market. In addition, the bank prioritizes women in their senior management team and in their workforce, qualifying for DFC’s 2X Women’s Initiative. Read more here…

The World Must Invest in its Women

The World Must Invest in its Women

In an Op-Ed published by the Thomas Reuters Foundation, President Ellen Johnson Sirleaf and Algene Sagery of the United States Development Finance Corporation make the case why now is the time we need to double down on our investments in women across the globe. Read the op-ed here.

GridX Africa featured on CNN

GridX Africa featured on CNN

CNN’s Inside Africa profiles three innovators, including GridX Africa, who are leading the charge across sub-Saharan Africa, where renewable energy sources are increasingly being explored as alternatives to power the continent.

Watch the full episode here, or skip to the segment on GridX at 11 minutes 30 seconds.

IBLL builds state-of-the-art HQ in Monrovia

IBLL builds state-of-the-art HQ in Monrovia

International Bank (Liberia) Ltd has unveiled their brand new headquarters office in the center of Monrovia’s business district. The ambitious 3-year project provides a large new banking hall and private banking office so IBLL can better meet the needs of its customers. The new office was officially opening at a ceremony held on May 2, 2021

Pembani Remgro Investment into GridX Duara Holdings for C&I Solar

Pembani Remgro Investment into GridX Duara Holdings for C&I Solar

The Pembani Remgro Infrastructure Fund (PRIF), one of Africa’s foremost infrastructure investment funds, and GridX Africa Development (GridX), a leading pan-African commercial & industrial (C&I) solar developer, have signed the final transaction documents for the capitalisation and management of an asset holding company, GridX Duara Holdings.

Liberia Sees a Second Chance

Liberia Sees a Second Chance

For many international investors, Liberia isn’t relevant. It offers little in terms of natural resource, while global banks find doing business there too risky and its young and poor population offers little commercial opportunity. Can China help turn this around?

Read Kanika Saigals full article on EuroMoney.

Ghanaian Minister of Finance Discusses 'Ghana Beyond Aid'

Ghanaian Minister of Finance Discusses 'Ghana Beyond Aid'

In a speech to the Aliu Mahama Foundation Minister Ofori-Atta outlined the Administration's plan to transform the Ghanaian economy and free the nation "forever from the rusty by enduring shackles of aid dependency." Ofoi-Atta discussed the need for Ghana to chart its own development path, and broke down the actions that must be taken into 6 distinct priorities: agriculture, banking, oil and gas, bauxite, education and skills training, and entrepreneurship. Read the full speech here. 

Steve Cashin Receives Highest Civilian Honor in Liberia

Steve Cashin Receives Highest Civilian Honor in Liberia

Stephen D. Cashin, CEO of Pan African Capital Group, has been granted the title of Knight Commander, Most Venerable Order of the Pioneer, by the President of Liberia, Ellen Johnson Sirleaf.  Mr. Cashin was honored, in ceremony which took place on July 27th, for his invaluable services rendered to the Liberian people.

The Georgetown Africa Business Conference: A time for ownership

The Georgetown Africa Business Conference: A time for ownership

At Georgetown University's second annual Africa Business Conference, Steve Cashin joined a panel with Wale Ayeni of the IFC and Bobby Pittman of Kupanda Capital to discuss the future of Private Equity in Africa in the face of weake currencies, dropping commodity prices and slowing economies. Read more about the conference here.

PACG helps commission commemorative bell tower in Liberia

PACG helps commission commemorative bell tower in Liberia

In commemoration of all those who lost their lives during the Liberian Civil War, Pan African Capital, the Cashin family, and the Society of Jesuits supported the building of a bell tower at the Holy Family Church in Caldwell. The tower was commissioned on December 11, 2016 as a symbol of continued peace in Liberia.

OPIC, USAID, PACG and post-Ebola Recovery in Liberia

OPIC, USAID, PACG and post-Ebola Recovery in Liberia

Elizabeth Littlefield, President and CEO of the Overseas Private Investment Corporation (OPIC), recently discussed the US led post-Ebola recovery efforts, mentioning the innovative partnership between PACG and USAID.

OPIC signs commitment for US$20 million to Liberia

The U.S Government's development finance institution, OPIC, today signed a commitment letter for a US$20 million direct loan to International Bank Liberia Limited (IBLL) to support lending in sectors such as construction, services, manufacturing, agribusiness, hospitality, and transportation. The landmark deal is the first of its kind in Liberia and seeks to foster jobs and opportunities by supporting investments in key economic areas and increasing long term lending to the Liberian Private Sector. Find the full report here.

Steve Cashin Named Chair of Africare Board

Stephen Cashin, the founder and CEO of Pan African Capital Group, has today been named the Chairman of the Board for Africare, the development organization that has funded over $1 billion worth of projects across 36 countries across Africa since its founding in 1970.  Africare is the oldest and largest African-American led organization in the development field, currently focusing on projects affecting agriculture and food security, health, water, women's empowerment, and other crucial areas of need.  Find the press release on Mr. Cashin's appointment here, and for more on the work of Africare or to donate, please see their website here.

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