KCB Bank, Liberty Life Launch Education Plan dubbed ‘KCB Elimisha’

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KCB Bank, Liberty Life Launch Education Plan dubbed ‘KCB Elimisha’

Special Correspondent - June 5, 2018

The partnership is set to benefit parents as they look into saving for quality education for their children. KCB Bank Kenya has entered into a...

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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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By Samson Oyugi Africa’s largest hydroelectric project The GERD, located on the Blue Nile in Ethiopia with a capacity of 5,150–6,450 MW and a reservoir holding up to 74 billion cubic meters of water is set for inauguration on 9th September 2025 after the completion of the construction works that began in 2011. The dam has been a source of pride for Ethiopia, funded domestically through bonds and public contributions, and is expected to double the country’s electricity output and even enabling energy exports to neighboring countries such as Sudan, Kenya, and Djibouti. The project sparked tensions with downstream nations of Egypt and Sudan, who fear it could reduce their Nile water supply. Egypt relies on the Nile for 97% of its water needs and has referred to the dam as an “existential threat” and labeled its operation without a binding agreement as a violation of international law. Sudan had also expressed concerns, though it has oscillated due to potential benefits like regulated water flows that could reduce on its perennial flooding . Despite years of negotiations, no legally binding agreement on the dam’s operation has been reached after meetings of negotiations up to the African Union level. Ethiopia through Prime Minister Abiy Ahmed has described the dam as a “shared opportunity” for regional cooperation and has extended an invitation to African countries including Egypt and Sudan to it's inauguration. Through his address on the ongoing preparations read to the media in Kenya by the Ethiopian Ambassador to Kenya His excellency Demeke Atnafu Ambulo he said, "Africa should be proud of such an infrastructure that is going to benefit not only Ethiopia but the greater East Africa region and even beyond economically hence solving African problems using African solutions just as Ethiopia has shown". The GERD’s completion marks a significant milestone to Ethiopia’s energy ambitions with its population projected to grow to 240 million by the year 2030 from current 130 million with half the population connected to reliable energy. With the increase in population, their energy demand will too increase.

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As global carbon markets shift from rule‑setting to real transactions, with Article 6 mechanisms advancing and compliance‑driven demand such as CORSIA coming into sharper focus, attention is turning to where credible supply and policy certainty can be delivered at scale. For Africa, this marks a transition from carbon market readiness to delivery. Against this backdrop, the Carbon Markets Africa Summit (CMAS) 2026 will take place from 13–15 October 2026 in Kigali, Rwanda, bringing together policymakers, investors, buyers, project developers and market enablers at a pivotal moment for global carbon markets. The Summit is delivered with the support of the Ministry of Environment of Rwanda, in partnership with the United Nations Development Programme (UNDP), the African Development Bank (AfDB), the Development Bank of Southern Africa (DBSA) and AUDA‑NEPAD, and with support from private sector partners such as SGS and Anthesis. Rwanda has emerged as one of Africa’s most advanced carbon market jurisdictions, with active engagement under Article 6 of the Paris Agreement and a strong focus on mobilising climate finance. “Rwanda has made a deliberate choice to position carbon markets as a tool for climate action, investment mobilisation and long-term development,” said Dr. Bernadette Arakwiye, Minister of Environment, Rwanda. “Hosting CMAS 2026 reflects our commitment to building credible and investable carbon projects that deliver real value for our economy, communities and climate goals.” At a continental level, carbon markets are increasingly seen as a strategic financing mechanism for development. “The Summit provides a timely platform for African countries to shape the future of carbon markets in line with the continent’s development priorities, and reflects the growing momentum to build credible, high-integrity markets that deliver real value”, said Olufunso Somorin, Regional Principal Officer, Climate Change and Green Growth Programme, African Development Bank. “The Bank remains committed to working with our countries and partners to strengthen the policy, regulatory, and institutional frameworks needed to scale carbon markets, attract investments, and ensure Africa is well-positioned in global carbon markets.” “As Africa transitions to a low‑carbon economy, the mobilisation of private capital is needed at scale to support climate mitigation activities and build climate‑resilient infrastructure,” said Kumesh Naidoo, Carbon Markets Lead at the Development Bank of Southern Africa (DBSA). “As a regional DFI, the DBSA recognises the importance of carbon markets as a climate finance tool and has intentionally stepped forward to support their development through carbon financial instruments, capacitation support and the building of a robust carbon project pipeline. Partnering with CMAS 2026 provides the DBSA with a platform to advance these objectives.” CMAS 2026 is held under the theme: “Africa’s Carbon Markets on the Global Stage: Delivering a Strong Pipeline of Projects, Capital and Transactions at Scale”. As scrutiny on carbon market integrity intensifies, Africa’s carbon assets are increasingly viewed as tools for financing development and strengthening economic sovereignty. “High‑quality carbon markets offer Africa a unique opportunity to translate its vast natural capital into tangible economic value – mobilising finance at scale while empowering countries to pursue development pathways that are both sustainable and sovereign,” said Maxwell Gomera, UNDP Resident Representative in South Africa and Director of the Africa Sustainable Finance Hub. Designed as a market‑enabling platform, CMAS 2026 focuses on alignment between policy, capital and delivery. “We are deliberately shifting the focus from readiness to delivery,” said Emmanuelle Nicholls, Group Director: Green Economy at VUKA Group, the Summit organisers. “CMAS brings policy, capital and projects into the same space to support real transactions and long‑term market credibility.” The programme includes Article 6 and CORSIA workshops, investor and buyer roundtables, curated project presentations, deal rooms and solution‑labs addressing key bottlenecks such as early‑stage finance, MRV capacity and authorisation in practice. Ministerial roundtable and targeted networking formats support coordination and commercial outcomes. Register: https://apo-opa.co/49Kcmpy Get involved: https://apo-opa.co/3R8m6DR

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KCB Bank, Liberty Life Launch Education Plan dubbed ‘KCB Elimisha’

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

Ethiopia sets date for GERD inauguration

Spiraling costs, surging conflict, and soaring climate disasters create a desperate...

Kwara Selected for Norrsken Impact Accelerator

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Africa Powers Carbon Market Delivery

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