African Development Bank Takes $10 Million Equity Stake in Kenya's Dhamana Following Anchor Investment From...

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The African Development Bank has made a strategic equity investment of $10 million in Dhamana Guarantee Company, a Nairobi-based provider of guarantees to support sustainable growth enterprises. This follows an anchor investment from the UK-Government-backed Private Infrastructure Development Group through its subsidiary, InfraCo Africa.

AfDB VP Solomon Quaynor with Joost Zuidberg, CEO, Cardano Development, David Gitau, KCB Asset Management Trustee; Gilles Vaes, CEO, InfraCo Africa, Victor Odendo, KCB Asset Management Trustee; Dr. Hosea Kili, Group Managing Director, CPF and Christopher Olobo, CEO, Dhamana at a signing ceremony for Dhamana founding shareholders held in Nairobi

By targeting businesses that improve citizen's daily lives, Dhamana will enhance access to affordable finance, reduce the capital needed for projects, and advance progress towards achieving the Sustainable Development Goals. Dhamana CEO Christopher Olobo said,"With the support of our investors and supporters, the Private Infrastructure Development Group, Cardano Development, FSD Africa, CPF Financial Services, and the African Development Bank, we have worked to develop Dhamana as an important catalyst for long-term sustainable finance in the region.

 

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