The ALCB Fund TA Facility appointed GCR Analytics (“GCRA1”) in 2020 to conduct a historical default study on financial institutions in various African jurisdictions. The study was conducted between 2020 and 2021. The primary objective of the default data study was to provide a set of historical default rates for a select set of African countries, which can be viewed and utilised as being broadly representative of default rates and trends exhibited across the African continent.
Click for MoreView DocumentCambridge Economic Policy Associates (CEPA) was appointed by Ocorion Limited and LHGP Asset Management 18 Ltd. to identify approaches to promote opportunities for local currency (LCY) denominated bond financings of infrastructure projects in Africa.
Click for MoreView DocumentStudy of the Algerian Debt Capital Markets
Click for MoreView DocumentThe market for housing in Africa is affected by the twin problems of affordability (level of income and price of the house) and access to financing. Despite the significant housing stock deficit, across a large number of countries the level of effective demand remains low; this is a direct result of the high cost of the current housing purchase options available in the market and the low percentage of the population deemed capable of affording or financing these purchases through traditional mortgage loans. This paper explores the different African housing finance products available and funding activities of housing finance providers.
Click for MoreView DocumentThis memo provides an overview of the global green bond market as well as background and context on market standards and market development to date. The paper then provides insight in to the current status of green bonds in Africa. While lagging relative to other geographies, their has been noticeable movement in three Sub-Saharan countries to drive development forward. This paper provides insight in to these developments.
Click for MoreView DocumentThis report was prepared in 2019 by Andre Harms and Cornelia Oberholzer of Ecolution Consulting (www.ecolution.co.za), a green building and sustainability consulting firm. Ecolution Consulting provides a wide range of consulting and advisory services to various sectors and organisations. Ecolution can be contacted at hello@ecolution.co.za. This report is an integral part of and is to be read in conjunction with the report titled “SOUTH AFRICA SCOPING STUDY: Assessing the Potential for Green Bonds Financing Green Buildings” prepared by Consulting for Sustainable Solutions.
Click for MoreView DocumentThis report has been prepared by Megan Sager, Adrian Lotter and Sarah Palhol of Consulting for Sustainable Solutions (www.sustainablesolutions.co.za), a consulting and advisory firm facilitating the flow of capital into sustainable property and infrastructure to enable cities of the future. Consulting for Sustainable Solutions is based in Cape Town, South Africa. CSS can be contacted at info@sustainablesolutions.co.za. This report is to be read in conjunction with the report titled South African Study: Reviewing the methodologies for certifying buildings under the CBI’s Low Carbon Building criteria by Ecolution Consulting. CSS is grateful to the ALCB Fund’s Technical Assistance Facility for making this work possible, and the GBCSA for making extensive data and input available to support achievement of study outcomes.
Click for MoreView DocumentThe ALCB Fund, through its TA Facility, commissioned an assessment of the potential to issue non-sovereign local currency bonds in Madagascar.
Click for MoreView DocumentWith the support of PwC, the ALCB Fund has compiled details of the listing requirements for bonds in 20 African countries.
Click for MoreView DocumentThe ALCB Fund, through its TA Facility, commissioned an assessment of listing and issuance guidelines by country, as part of its support to one of the regional regulators. This presentation summarises the guidelines for Botswana, Egypt, Kenya, Malawi, Mauritius, Namibia, Nigeria, Rwanda and South Africa. The assessment was undertaken with the assistance of PwC.
Click for MoreView DocumentThe ALCB Fund's Technical Assistance Facility engaged consultants to explore the development of local capital markets in four African countries (Cameroon, DRC, Liberia and Sierra Leone). This paper provides a summary of the reports' findings.
Click for MoreView DocumentGlobal Credit Ratings has affirmed the long term and short term national scale issuer ratings of A-(NG) and A2(NG) respectively, assigned to Dufil Prima Foods PLC (“Dufil” or “the Company”), with the outlook accorded as Stable. Concurrently, the rating of A-(NG) accorded tothe N10bn Series 1 bond was also affirmed, with outlook accorded as Stable.
Click for MoreView DocumentThe ratings on Letshego Bank Namibia Limited (“LBN”, “the bank”) reflect the credit profile of Letshego Holdings Namibia Limited (“LHN”, “the Group”). GCR believes the bank is a core part of the Letshego Namibia group. While LBN is not the largest contributor to Group assets and revenues (less than 50%), relative to Letshego Micro Financial Services (Namibia) (Pty) Limited (“LMFSN”), the Group benefits from the banking licence and the avenues that it opens. However, in the event the level of importance reduces, the ratings may be de-linked from the group Anchor Credit Evaluation (“ACE”)/ group credit profile.
Click for MoreView DocumentNedbank Limited's (Nedbank) long-term deposit and senior unsecured debt ratings of Ba2 reflect the bank's standalone creditworthiness, as indicated by its ba2 Baseline Credit Assessment (BCA). Nedbank's BCA reflects the bank's solid local franchise with an 18% share of deposits; investments in digitisation, which have supported its cost-cutting initiatives; and sound liquidity buffers, with the banking group reporting a liquidity coverage ratio (LCR) of 144% and a net stable funding ratio (NSFR) of 120% as of June 2022. Asset risks are also partly mitigated by good risk management practices, while profitability has recovered on the back of lower provisioning needs, revenue growth and well-managed expenses, with the bank reporting a profit of ZAR9.2 billion (0.9% return on assets). Nedbank's Common Equity Tier 1 (CET1) capital ratio (including unappropriated profits) also increased to 12.7% in June 2022.
Click for MoreView DocumentFitch Ratings - London - 12 Apr 2022: Fitch Ratings has assigned Growthpoint Properties Limited a 'BB+' Long-Term Foreign-Currency Issuer Default Rating (FC IDR). The Outlook is Stable. Fitch has also assigned a foreign-currency senior unsecured rating of 'BB+' with a Recovery Rating of 'RR4'.
Click for MoreView DocumentFitch Ratings - London - 14 Oct 2022: Fitch Ratings has placed Oragroup S.A.'s (Oragroup) Long-Term Issuer Default Rating (IDR) of 'B-' and Viability Rating (VR) of 'b-'on Rating Watch Negative (RWN)
Click for MoreView DocumentLondon, September 23, 2022 -- Moody's Investors Service ("Moody's") has today affirmed the following ratings of Caisse Regionale de Refinancement Hypothecaire de l'UEMOA (CRRHUEMOA): the Ba2 long-term corporate family rating (CFR), the Ba2/Not Prime long and shortterm local currency issuer rating, as well as the Ba3/Not Prime long and short-term foreign currency issuer rating. At the same time, Moody's has changed the issuer outlook to stable from negative.
Click for MoreView DocumentDakar, October 11th, 2022 - GCR Ratings ("GCR") has revised Sonatel's long-term issuer rating from AA-(WU) to AA(WU) on its regional rating scale. Additionally, the short-term issuer rating of A1+(WU) has been confirmed. Furthermore, GCR revises the senior unsecured bond rating from 'AA-(wu)' to 'AA(wu)'; the outlook attached to these ratings is stable.
Click for MoreView DocumentAbidjan, January 13th, 2023 - After the process of reassessing NSIA BANQUE CÔTE D'IVOIRE's ratings, Bloomfield Investment rating agency, published in the Official Bulletin of the Coast, that it has decided to upgrade the company's rating.
Click for MoreView DocumentWest Africa Rating Agency (WARA) affirms the long-term rating from the Bank of Habitat du Senegal (BHS) to “BBB”. This rating is three notches below the Senegalese national ceiling, which is established – according to WARA– to ‘A’. Short-term rating is "w-4". The perspective attached to these ratings remains "stable".
Click for MoreView DocumentWest Africa Rating Agency (WARA) reaffirms the long-term rating of Baobab Senegal at “BBB+” in grade investment grade, while its rating short term is "w-3". Stable outlook.
Click for MoreView DocumentLong term rating remains stable at "BBB+"; short term rating remains stable at "A1".
Click for MoreView DocumentGCR Ratings (“GCR”) has downgraded Mixta Real Estate Plc’s national scale long-term and short-term Issuer ratings to CCC-(NG) and C(NG) from BB+(NG) and B(NG) respectively, with the Outlook accorded as Evolving.
Click for MoreView DocumentAgusto & Co. affirms the ‘A-‘ rating assigned to North South Power Company Limited.
Click for MoreView DocumentAgusto & Co. hereby maintains the ‘Bbb-’ rating assigned to LAPO Microfinance Bank Limited.
Click for MoreView DocumentFitch Ratings - London - 17 Oct 2022: Fitch Ratings has affirmed Enda Tamweel S.A.'s (Enda) National Long- and Short-Term Ratings at 'BBB(tun)' and 'F3(tun)', respectively. The Outlook on the National Long-Term Rating is Stable.
Click for MoreView DocumentFitch Ratings - Paris - 20 Apr 2022: Fitch Ratings has revised the Outlook on Banque d'investissement et de developpement de la CEDEAO's (EBID) Long-Term Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at 'B'.
Click for MoreView DocumentAlios Finance Côte d’Ivoire rating maintained at BBB+, outlook stable - In the short term, there is certainty of very high timely reimbursement and liquidity factors are excellent and supported by good protective factors for essential elements. Over the longer term, protective factors appropriate and considered sufficient for prudent investments. However, there is a considerable variability in risk over the course of business cycles.
Click for MoreView DocumentWest Africa Rating Agency (WARA) has classified Baobab Senegal's long-term rating to "BBB +", in investment grade, while that its short-term rating is "w-3". The perspective attached to these ratings remains stable
Click for MoreView DocumentS&P Global Ratings assigned its long-term 'zaAA+ (sf)' credit rating to Bayport Securitisation (RF) Ltd.'s class A BAYA86, BAYA87, BAYA88, BAYA69U, and BAYA70U notes. At the same time, S&P have lowered the ratings on the outstanding class A notes to 'zaAA+ (sf)' from 'zaAAA (sf)'
Click for MoreView DocumentWest Africa Rating Agency (WARA) announced the publication of the first rating of the issue BHS bond, with the bond amount of 20 billion CFA francs. The grade awarded by WARA is "BBB"
Click for MoreView DocumentMoody's Investors Service ("Moody's") has assigned the following first-time ratings to Caisse Regionale de Refinancement Hypothecaire de l'UEMOA (CRRH-UEMOA): Ba2 long-term corporate family rating (CFR), Ba2/Not Prime long and short-term local currency (LC) issuer ratings, as well as Ba3/Not Prime long and short-term foreign currency (FC) issuer ratings. The outlook is stable for the entity
Click for MoreView DocumentFitch Ratings has affirmed Enda Tamweel S.A.'s (Enda) National Long- and Short-Term Ratings at 'BBB-(tun)' and 'F3(tun)', respectively. The Outlook on the National Long-Term Rating is Stable.
Click for MoreView DocumentGlobal Credit Ratings has affirmed the national scale rating assigned to North South Power Company Limited of A-(NG) and A2(NG), in the long term and short term respectively; with the outlook accorded as Stable. The ratings are valid until October 2021.
Click for MoreView DocumentOn the occasion of Oragroup SA's first financial rating, the Bloomfield Investment Corporation rating agency assigned it the following ratings: long-term, A rating (investment rating), with a stable outlook; and in the short term, the A2 rating (investment rating), with a stable outlook. These ratings illustrate the credit quality of Oragroup SA
Click for MoreView DocumentGCR Ratings (‘GCR’) has affirmed Real People Investment Holdings Limited’s national scale primary and special servicer ratings of SQ2-(ZA)/SQ2(ZA) respectively, with outlooks accorded as Stable. The national scale servicer quality ratings on Real People Investment Holdings Limited (‘Real People’, ‘the group’) balance a fairly strong debt collection profile, stable technology and internal control environment, good management team and a moderately weak financial profile.
Click for MoreView DocumentWest Africa Rating Agency (WARA) announces the publication of the third rating of Senelec (the National Electricity of Senegal). On the regional scale, WARA assigns Senelec the long-term rating of "A-", while its rating of short term is "w-3". Perspective attached to these ratings remains stable.
Click for MoreView DocumentOn its regional scale, WARA affirms in December 2020 the long-term rating of "AA-" to Sonatel, in investment grade, while its short term rating is "w-2". The perspective attached to these ratings remains stable
Click for MoreView DocumentBloomfield Investment Corporation has maintained unchanged the “A + with a stable outlook” rating awarded to NSIA Banque Côte d’Ivoire, the executives of the Abidjan-based rating agency said. This structure also kept the short-term rating “A1 with a stable outlook” unchanged. The rating is valid from August 2020 to July 2021
Click for MoreView DocumentOn 26 November 2020, Moody downgraded the rating of Growthpoint Properties Limited (Growthpoint) to Ba2 from Ba1. The rating action follows the rating action on the South African sovereign and reflects Growthpoint's significant exposure to the real estate market in South Africa
Click for MoreView DocumentOragroup SA is considered to be a high quality credit with robust protective factors. In the short term, certainty of repayment is good and liquidity factors and essential elements of societies are healthy. In the long term however, risk factors are more variable and more important in the period of economic pressure.
Click for MoreView DocumentGlobal Credit Ratings has downgraded the national scale ratings assigned to LAPO Microfinance Bank Limited to BBB(NG) and A3(NG) in the long and short term respectively; with the outlook accorded as Stable. The ratings are valid until November 2021.
Click for MoreView DocumentGCR Ratings (“GCR”) has affirmed Letshego Ghana Savings and Loans PLC’s, (formerly known as AFB (Ghana) Plc) national scale long term issuer and short-term issuer ratings of BB+(GH) and B(GH) respectively, with a Negative Outlook. Concurrently, the national scale long term issue ratings of the senior unsecured notes under the Medium Term Notes (“MTN”) programme were downgraded to BB+(GH) from BBB+(GH), with a Negative Outlook.
Click for MoreView DocumentGlobal Credit Rating Co. Limited (“GCR”) has downgraded the national scale ratings assigned to Mixta Real Estate Plc (“Mixta Nigeria” or “the Group”) of BB+(NG) and B(NG) in the long term and short term respectively, with the outlook accorded as Stable. Concurrently, the national scale ratings accorded to Mixta Nigeria’s Bond Issuances were also downgraded as follows: N4.5bn Series 1 Guaranteed Bonds: AA-(NG)(EL), Stable Outlook N2.961bn Series 2 Tranche A Guaranteed Bonds: AA-(NG)(EL), Stable Outlook N2.32bn Series 2 Tranche B Secured Bonds: BBB(NG)(EL), Stable Outlook
Click for MoreView DocumentNedbank Limited's (Nedbank) long-term deposit and senior unsecured debt ratings of Ba2 with a negative outlook reflect the bank's standalone creditworthiness, as indicated by its ba2 Baseline Credit Assessment (BCA)
Click for MoreView DocumentGCR Ratings (“GCR”) has assigned The Company for Habitat and Housing in Africa (‘Shelter Afrique’) international scale long and short-term issuer ratings of B- and B respectively, with the outlook accorded as Stable. At the same time, the following long and short-term national scale issuer ratings have been assigned: Kenyan National Scale ratings at A+(KE)/A1(KE), with outlook accorded as Stable. Nigerian National Scale ratings at AA(NG)/A1+(NG), with outlook accorded as Stable
Click for MoreView DocumentLondon, 30 September 2019: S&P Global Ratings assigned its long-term 'zaAA+ (sf)' credit rating to Bayport Securitisation (RF) Ltd.'s class A BAYA77 notes. At the same time, S&P has affirmed the 'zaAA+ (sf)' ratings on the outstanding class A notes. Today's rating actions reflect credit and cash flow analysis using the most recent available collateral performance data (as of June 2019).
Click for MoreView DocumentBaobab Senegal announces the emission of a bond for a total amount of FCFA 10 billion (EUR 15.2 million) subscribed at 100%, at 7 years, with a coupon of 7.50% per annum.
Click for MoreView DocumentMoody's has affirmed the Baa3 long-term issuer ratings and changed the outlook of the following companies to negative from stable: (i) Growthpoint Properties Limited, (ii) Redefine Properties Limited, (iii) Barloworld Limited, (iv) The Bidvest Group Limited, (v) Telkom SA SOC Limited
Click for MoreView DocumentThe Regional Mortgage Refinancing Fund (CRRH-UEMOA) conducted the first listing on the Regional Stock Exchange of the UEMOA (BRVM) of its 8th bond issue.. This loan was issued in two tranches of 12 years and 15 years on the regional financial market from October 30 to January 15, 2019 and raised CFAF 30.2 billion.
Click for MoreView DocumentJohannesburg, 30 April 2019: Today, the JSE celebrated Nedbank Limited's listing on its Green Bond Segment. Nedbank Limited is the first commercial bank in South Africa to list a green bond on the JSE’s Green Bonds segment.
Click for MoreView DocumentNairobi, 22 February 2019: The listing of the Mixta Real Estate PLC ₦2.96bn Tranche A and ₦2.32bn Tranche B Series 2 Bonds (the “Mixta Bonds”) is another significant contribution inspiring confidence in the Nigerian markets as housing and infrastructure development progressively takes form.
Click for MoreView DocumentThe first listing of the public bond issue called "SENELEC 6.50% 2018-2025", admitted to the bond compartment of the UEMOA Regional Stock Exchange (BRVM), took place January 15, 2019.
Click for MoreView DocumentWARA has affirmed the long-term rating "tAA" for senior bonds issued by the FCTC-COFINA Joint Debt Securitization Fund after its first semi-annual review. The perspective remains stable. West Africa Rating Agency (WARA) has declared, as of October 26, the long-term regional currency rating "tAA" of the "senior" bonds issued by the COFINA Group's FCTC, for an initial nominal amount of $ 10 billion. CFA. These bonds carry a residual maturity of 12 months. For reference, this "tAA" rating is two notches below the maximum rating permitted by the rating agency's regional scale. The perspective remains stable. The underlying portfolio performed as expected during the first six months of issuance.
Click for MoreView DocumentDakar, 09/25/18 - West Africa Rating Agency (WARA) today announced the publication of the third Microcred Senegal (MCS) rating. On WARA's regional scale, MCS's long-term rating is upgraded from "BBB" to "BBB +" in investment grade, while its short-term rating is also upgraded from "w-4" to "high". w-3 ".
Click for MoreView DocumentLAPO Microfinance Bank Limited’s (‘LAPO’ or ‘the Bank’) rating reflects the Bank’s strong market position, good capitalisation, good liquidity and funding profile. However, the rating is constrained by the rising level of impaired loans, increasing operating costs and the impact of low BVN compliance on loan disbursements and profitability. The rating is also tempered by the fragile but improving economy which continues to impact the quality of the Bank’s loan portfolio.
Click for MoreView DocumentJohannesburg, 28 May 2018—Global Credit Ratings has affirmed AFB (Ghana) Plc’s long-term and short-term national scale ratings of BB+(GH) and B(GH) respectively; with the outlook accorded as Positive. The ratings are valid until May 2019.
Click for MoreView DocumentFebruary 2019: InfraCredit, an ‘AAA’ rated infrastructure credit enhancement facility backed by the Nigeria Sovereign Investment Authority, GuarantCo, KfW and AFC, is pleased to announce its guarantee of North South Power (NSP) NGN 8.5billion 15-Year 15.60% Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bonds Due 2034 (the “Series 1 Green Bonds”) under a NGN 50billion Debt Issuance Programme. NSP is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant. With InfraCredit’s guarantee, the Series 1 Green Bonds was accorded a ‘AAA’ credit rating by Agusto and GCR and issued on 27th February 2019 as the first certified corporate green bond and the longest tenored (15-year) corporate bond issued in the Nigerian debt capital markets approved by the SEC.
Click for MoreView DocumentMarch 2018 -- FMDQ OTC Securities Exchange (“FMDQ” or the “OTC Exchange”) admitted on its platform the LAPO MFB SPV PLC Series 1 ₦3.15bn 17.75% 5-year Fixed Rate Senior Unsecured Bond (the “LAPO MFB SPV Bond”) under a ₦20.00bn Bond Issuance Programme. In a statement given by the Chairman of the Board of Directors of African Local Currency Bond (“ALCB”) Fund, one of the key investors in the bond, Mr. Karl Von Klitzing commented that the ALCB Fund was delighted to have anchored the first bond issued by a microfinance bank in Nigeria.
Click for MoreView DocumentMarch 2018 -- Growthpoint Properties is the first South African company to issue a Green Bond on the Johannesburg Stock Exchange (JSE). The Growthpoint Green Bonds, for terms of five, seven and ten years, were issued and listed on the JSE on Friday, 9 March 2018. Green Bonds raise money that is specially allocated for funding projects that result in positive environmental and climate benefits. The R1.1 billion (USD94 million) Green Bonds issued by Growthpoint.
Click for MoreView DocumentDakar, 28 September 2017 -- West Africa Rating Agency (WARA) announces today the publication of its rating review on Microcred Senegal (MCS). On WARA’s regional rating scale, the long-term rating of MCS is affirmed at ‘BBB’, in the investment-grade category, while its short-term rating remains ‘w-4’.
Click for MoreView DocumentJohannesburg, 18 April 2017 -- Global Credit Ratings has today placed the following final, public long term credit rating of ‘BBB(GH)’ with a Stable Outlook accorded to the Medium Term Notes (‘MTN’) Programme of AFB (Ghana) PLC, Under Review.
Click for MoreView DocumentJohannesburg, 19 October 2016 -- Global Credit Ratings (‘GCR’) has affirmed the final, public long term credit rating of ‘BBB(GH)’ with a Stable Outlook accorded to the Medium Term Notes (‘MTN’) Programme of AFB (Ghana) PLC.
Click for MoreView DocumentThe ALCB Fund S.A. SICAV-RAIF (the “Fund”) is an Alternative Investment fund that invests in corporate local currency bonds across a number of African jurisdictions. The Fund’s mission is to promote the development of African debt capital markets by supporting non-sovereign entities to issue local currency bonds in developmental sectors, including but not limited to, financial inclusion, affordable housing, education, renewable energy, green infrastructure, and agriculture. While the Fund promotes environmental characteristics within the meaning of Article 8 of the SFDR, it does not currently commit to investing in any “sustainable investment” as defined in the SFDR . The AIFM does not consider the adverse impacts of its investment decisions on Sustainability Factors in accordance with Article 7(1) of the SFDR due to the complexity associated with gathering requisite data to adequately consider the adverse impacts, given the geographical and investment focus of the Fund’s investments. Nevertheless, the Fund maintains its adherence to the IFC Performance Standards, the KfW’s Sustainability Guidelines, including the KfW exclusion list, and the assessment of Sustainability Risks through the ESMS, in an effort to limit any associated environmental or social adverse impacts of the underlying investments.
View DocumentView DocumentThe purpose of this guide is to summarise in one single detailed practical report, the conditions of issuance of bonds by corporates, the legal and regulatory rights of bondholders and the enforcement process of bonds in the Economic and Monetary Community of Central Africa ("EMCCA") (also known under the French acronym, CEMAC) and in the West African Economic and Monetary Union ("WAEMU") (also known under the French acronym, UEMOA)
View DocumentView DocumentThe ALCB Fund is proud to announce its investment of ZAR 68 million (USD 5 million) in Nedbank’s Green Additional Tier 1 (AT1) bond issuance
View DocumentView DocumentThe ECL calculator is developed to aid the end user to quantify the credit risk associated with the financial instruments at the pre-investment stage
View DocumentView DocumentThe objective of this document is to provide an understanding of the key concepts and requirements of IFRS9 primarily covering impairment methodology including a brief explanation on Classification and Measurement framework, Significant increase in credit risk, Definition of default, Modification and derecognition, Period over which to estimate ECL and ECL parameter modelling.
View DocumentView DocumentThe user manual covers the steps one need to follow to use the ECL calculator to generate ECL estimate under various scenarios
View DocumentView DocumentThe ALCB Fund is proud to announce the closing of an additional equity investment of EUR 7 million (USD 8.4 million) by KfW on behalf of the Federal Ministry of Economic Cooperation and Development (BMZ).
View DocumentView DocumentThe ALCB Fund has supported Baobab, providing technical assistance and acting as a key investor in its Senegalese bond programme. Following the success of the company’s 2019 issuance, Baobab plans to expand to expand its use of local currency bonds.
View DocumentView DocumentThe Fund supports the development of African capital markets by promoting primary corporate bond issuance in local currency. For more information, please see this Introduction.
View DocumentView DocumentALCB Fund invests XOF 5.8 billion in Sonatel bond issuance, marking its eleventh anchor investment in the UEMOA region
View DocumentView DocumentThe Climate Bonds Initiative (CBI) has endorsed the Green Building Council of South Africa’s (“GBCSA”) Net Zero/Positive Carbon proxy certification as a “Net Zero Carbon” compliance path for the South African commercial and residential property segments. The Net Zero/Net Positive carbon rating certifies whether a building can neutralise or redress its carbon impact on the environment and is applicable to both new and existing buildings. The endorsement was confirmed 4 September 2019 during a Technical Working Group session.
View DocumentView DocumentThe ALCB Fund exists to mobilise domestic resources into high impact sectors (benefitting MSMEs/households), increasing private-sector resilience through reduced FX exposure and contributing towards more efficient allocation of domestic savings and greater financial self-reliance in African economies. For more information about the Fund, see the Summary Presentation.
View DocumentView DocumentThe ALCB Fund is active in renewable energy, including solar and hydro, and can invest in corporate bonds, project bonds, securitisations and bonds issued by financial institutions. The Fund is unlike traditional debt providers such as development finance institutions or banks – it helps developers and companies create structures that are appropriate for the capital markets. While the Fundʼs focus is on local currency, it can consider hard currency investments for renewable energy and prioritises Green Bonds.
View DocumentView DocumentConvergence is an institution that connects, educates, and supports investors to execute blended finance transactions that increase private sector investment in emerging markets. This case study explores the mission, role and impact of the ALCB Fund.
View DocumentView DocumentNairobi, Kenya, May 11, 2017 -- IFC, a member of the World Bank Group, announced a $20 million in debt in the African Local Currency Bond Fund to help develop local currency capital markets in Africa.
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