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BLUE BAND SCHOOLS’ PROGRAM CULMINATES IN KISUMU

- July 19, 2019

Blue Band manufacturer, Upfield yesterday marked the end of their schools’ program at Magadi Primary School, Kisumu County. The campaign dubbed, ‘The Good Breakfast...

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Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced its equity investment in Dhamana Guarantee Company Limited (“Dhamana”), a credit enhancement facility established to unlock long-term, local-currency financing for infrastructure projects across East Africa. The investment forms part of AFC's approved commitment of up to US$20 million in capital, with an initial tranche of US$10 million in Dhamana’s core capital. Dhamana is designed to provide guarantees that enable infrastructure developers access domestic debt capital markets - particularly pension funds and institutional investors - on improved terms, while also supporting financial institutions to deepen financial inclusion. Dhamana’s operating model builds on the successful framework already implemented by similar Credit Enhancement Facilities in West Africa, notably InfraCredit Nigeria, where AFC is a founding shareholder. Commenting on the investment, Banji Fehintola, Executive Board Member and Head of Financial Services at Africa Finance Corporation, said: “Dhamana represents a strategic opportunity to deepen domestic capital markets in East Africa by linking long-term institutional savings to bankable infrastructure investments. Building on our experience with InfraCredit in Nigeria, AFC is pleased to support the establishment of another credit enhancement facility focused on East Africa that will help unlock local-currency financing, strengthen investor confidence, and accelerate infrastructure delivery across the region.” Also commenting on the investment, Christopher Olobo, Chief Executive Officer of Dhamana Guarantee Company, said: “We are delighted to welcome Africa Finance Corporation as a shareholder in Dhamana. AFC’s investment marks a major institutional endorsement of our mandate to unlock long‑term, local currency financing for infrastructure and priority sectors across East Africa. Drawing on AFC’s deep experience with credit enhancement platforms such as InfraCredit Nigeria, this partnership strengthens our capital base, governance and strategic capability as we scale our guarantee operations. We look forward to working closely with AFC to mobilise domestic institutional capital, deepen local debt markets, and deliver transactions that combine strong risk discipline with measurable developmental impact.” Dhamana is backed by a strong consortium of development partners and institutional investors, with AFC expected to play an active role in governance and strategic oversight. The Company’s pipeline spans multiple infrastructure sectors across East Africa, with a focus on transactions that deliver measurable developmental impact while meeting strong risk management and governance standards. The investment aligns with AFC’s broader strategy to support credit enhancement facilities across Africa, recognising their role in mobilising domestic capital, deepening local debt markets, and improving the financial sustainability of infrastructure projects.

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Africa Finance Corporation (AFC) Invests in Dhamana Guarantee Company to Catalyse...

The Common Market for Eastern and Southern Africa (COMESA) on Thursday launched its electronic certificate of origin system in Kenya, aiming to digitize trade procedures and ease intra-regional trade by cutting costs and delays linked to manual certification. Christopher Onyango, director of trade and customs at COMESA, told journalists in Nairobi, Kenya’s capital, that the new digital system is expected to streamline customs procedures, reduce red tape, and boost intra-regional trade by allowing exporters and customs authorities to process certificates of origin electronically. “The electronic certificate of origin will replace manual certificates and reduce clearance times at border crossings,” Onyango said, adding that goods originating from COMESA member states qualify for preferential tariff treatment. Josephine Makokha, rules of origin manager at the Kenya Revenue Authority, said Kenya joins Eswatini, Malawi, Zambia, and Zimbabwe in rolling out the system. She noted that the platform simplifies the application, issuance, exchange, and verification of certificates. Makokha added that the online certificates will be transmitted in real time among COMESA member states, enabling customs authorities to reduce the bureaucracy involved in cross-border trade. Visited 115 times, 7 visit(s) today

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Tag: KNBS

BLUE BAND SCHOOLS’ PROGRAM CULMINATES IN KISUMU

MOST POPULAR

Daniel Kiptum, Juster Kwamesa Confirm The sixth Edition of The Safaricom...

Craft Silicon’s BNPL hits Kes200mn in transactions

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Explore your interests, MKU Vice Chancellor tells students

HOT NEWS

Africa Finance Corporation (AFC) Invests in Dhamana Guarantee Company to Catalyse...

COMESA unveils e-certificate of origin system to spur intra-regional trade

World Hand Hygiene Day 2018

Radisson Blu Hotel, Nairobi Upper Hill and Humming Bird Transport Partner...

EDITOR PICKS

Radisson Hotels launch Long Stays

S&P Global Ratings Confirms ShafDB’s Sustainability Finance Framework Meets International Green...

Airtel Money deepens support for small businesses with Bizna Wallet

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Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

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