The financing, approved by Afreximbank in two tranches, supports BUA’s medium-term objectives by unlocking capital to pursue emerging market opportunities

LAGOS, Nigeria, November 12, 2024/APO Group/ — 

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has facilitated a landmark US$200 million corporate finance facility for the BUA Group, a prominent Nigerian conglomerate spanning food, infrastructure, mining and manufacturing sectors. The facility, provided to BUA Industries Limited by the African Export-Import Bank (Afreximbank), marks the second successful financial advisory mandate that AFC has closed for the BUA Group (BUA), reaffirming its commitment to driving impactful transactions that advance sustainable development and economic growth across Africa.

The financing, approved by Afreximbank in two tranches, supports BUA’s medium-term objectives by unlocking capital to pursue emerging market opportunities. The first tranche of US$150 million has been disbursed, enabling BUA to accelerate growth initiatives across its diverse portfolio, which includes sugar and cement production, flour milling, oil processing, real estate development, oil and gas, shipping and ports.

AFC’s partnership with BUA has been integral to several key projects, including its advisory role in the financing of BUA’s 20,000 hectares integrated sugarcane plantation and sugar production facility in Kwara State in 2021. This project is helping to significantly reduce Nigeria’s dependency on imported sugar raw materials while fostering job creation and stimulating economic activity.

We are proud to have played a central role for BUA in their continued expansion, driving local manufacturing, job creation and economic prosperity in Nigeria and Africa as a whole

Group Executive Director at BUA Industries Limited, Kabiru Rabiu said: “We are pleased to conclude the successful raise of the loan facility with Afreximbank. This partnership underscores the confidence that leading financial institutions, like AFC and Afreximbank, have in BUA Group’s growth strategy. The funding not only validates our strong growth prospects but also positions us to better capitalize on emerging opportunities.

We would like to express our gratitude to all the advisers involved in this transaction, including AFC, PAC Capital Limited (PAC), A&O Shearman and G. Elias, whose dedication and expertise were instrumental in structuring agreeable terms for a successful raise. This facility will enable us to pursue opportunities that are vital to the continued economic development of Nigeria and Africa as a whole, and that is a win for the entire nation and continent.”

Executive Director and Head of Financial Services at AFC, Banji Fehintola said: “The success of this transaction reflects the strength of AFC’s financial advisory expertise in providing top-tier strategic, corporate finance and technical guidance to leading institutions across Africa. We are proud to have played a central role for BUA in their continued expansion, driving local manufacturing, job creation and economic prosperity in Nigeria and Africa as a whole.”

In addition to advising on the BUA transaction, AFC has supported a diverse range of high-impact projects on the continent in recent years. This includes advising FGN Power Company Limited, the Nigerian government’s implementation vehicle for the Presidential Power Initiative (PPI), focused on improving power infrastructure in the country, and providing strategic guidance to the International Finance Corporation (IFC) and the Nigerian Sovereign Investment Authority (NSIA) in developing sustainable, climate-positive financing solutions for Nigeria’s electricity distribution sector. Last year, AFC provided advisory services for 24 projects totalling over US$18 billion in value.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

The first regional NCD Financing Accelerator will be hosted in Sub-Saharan Africa by the African Institute for Development Policy (AFIDEP)

GENEVA, Switzerland, November 12, 2024/APO Group/ — 

Today marks the launch of a transformative initiative as Access Accelerated (www.AccessAccelerated.org) and the World Bank (https://apo-opa.co/3CAxDnS) come together in a new technical partnership, working in close cooperation with Results for Development (R4D) (https://apo-opa.co/411pvY7) to build a coalition of global and local organizations aimed at addressing the critical shortfall in healthcare financing for noncommunicable diseases (NCDs) in low- and middle-income countries (LMICs). The regional Financing Accelerator Network for NCDs (FAN) (https://apo-opa.co/3O66QCK) is designed to bridge this gap through regionally hosted NCD Financing Accelerators, starting in Sub-Saharan Africa. These regional accelerators will collaborate with countries and local stakeholders to promote and scale sustainable health financing solutions, tackling one of the most pressing barriers to addressing the growing NCD burden. 

NCDs, including cancer, diabetes, cardiovascular and chronic respiratory diseases, and mental and neurological disorders, are responsible for approximately 41 million global deaths annually–a figure projected to rise to 52 million by 2030. This escalating challenge represents a significant threat to global health and economic growth, with projected costs of USD47 trillion in healthcare and lost productivity between 2010 and 2030. Despite the clear and urgent threat, current government spending and development assistance fall short of the investment needed to mitigate the rising death toll and its economic impact. 

The Financing Accelerator Network for NCDs aims to address this challenge by supporting governments and local stakeholders in strengthening their NCD response and building more resilient health financing systems, with a focus on advancing universal health coverage and building strong primary healthcare systems – key goals within the 2030 Sustainable Development Goals.

“We’ve heard from governments and local stakeholders that they need expertise, support, and locally relevant solutions to transform their health financing systems,” says Herb Riband, Director at Access Accelerated. “We have to respond to the call to help countries build financial and technical capacity to address NCDs and improve health outcomes.” 

We’ve heard from governments and local stakeholders that they need expertise, support, and locally relevant solutions to transform their health financing systems

The network of regional NCD Financing Accelerators in the Sub-Saharan Africa, Latin America & the Caribbean, and Asia-Pacific regions, supported by R4D as Network Manager, will provide regional expertise, on-demand technical support, cross-country learning opportunities, and catalytic seed funding to programs aimed at improving NCD financing and health outcomes. 

“We are excited to support the new Access Accelerated-World Bank technical partnership, leveraging our expertise in health financing and cross-country learning to strengthen health systems worldwide,” says Gina Lagomarsino, President and CEO of Results for Development. “Through the FAN initiative, we are dedicated to collaborating with local change agents in various global settings, ensuring that our efforts have local relevance and global impact, empowering health systems to effectively address the epidemiological transition to NCDs.” 

The first regional NCD Financing Accelerator will be hosted in Sub-Saharan Africa by the African Institute for Development Policy (AFIDEP) (https://apo-opa.co/3CxQD6w). Sub-Saharan Africa faces the fastest-growing rates of NCD incidence and mortality, yet only 7.2% of government spending is allocated to health, far below the average of 12.4% in other regions. This stark discrepancy underscores the urgent need for new approaches to health financing. 

“The growing evidence of the impact of NCDs in Africa, not just on health, but across all aspects of society, calls for forward thinking and innovation on the continent, to save lives and ensure wellbeing and prosperity,” explains Dr. Rose Oronje, Director of Public Policy & Knowledge Translation and Head of Kenya Office at AFIDEP. “As the host of the first regional NCD Financing Accelerator, we will use evidence to unite and mobilize country change agents and empower local stakeholders to co-create solutions, foster cohesive communities of learners, and overcome common health financing challenges.” 

In the coming months, FAN will prioritize a comprehensive analysis of the NCD financing landscape across the African region. This effort, already underway, engages government officials, policymakers, and other stakeholders to identify key challenges, opportunities, and priorities. The findings, expected by early 2025, will guide the learning agenda and shape strategies and solutions to drive on-the-ground impact across the continent. 

Distributed by APO Group on behalf of Access Accelerated.

The summit will highlight the opportunities for hotel brands and investors to establish themselves in Morocco’s thriving hospitality market with immense potential

CASABLANCA, Morocco, November 12, 2024/APO Group/ — 

The inaugural Morocco Showcase Summit: Tourism, Hospitality, Invest will take place Nov. 19-20 at the Marriott Hotel in Casablanca, emphasising how Morocco creates a compelling opportunity for Arabian investors to diversify their portfolios and capitalise on the country’s booming hospitality market.

The bilingual English and French summit, a collaboration of Société Marocaine d’Ingénierie Touristique (SMIT) and API Events, will spotlight Morocco’s vast potential as an investment destination for hotel brands and hospitality investors.

“Morocco’s unique blend of traditional charm and contemporary infrastructure makes it an ideal destination for Arabian investment in the tourism and hospitality sectors,” said Omar Benkabbou, Head of Advisory & Transaction Morocco, CBRE.

SMIT’s initiatives and the Morocco Showcase Summit are of specific interest to investment from Gulf countries and other Arabian nations. Morocco has always attracted tourists from the Arabian Peninsula and has been an equally appealing proposition among Arabian investors due to a unique mix of factors, including geographic proximity, cultural ties, and economic potential across tourism, real estate, agriculture, and renewable energy.

The added momentum from major events like the 2030 FIFA World Cup only amplifies Morocco’s appeal, drawing visitors from around the world, fuelling the demand for top-notch hospitality services, and attracting visionaries and shrewd investors.

Morocco’s unique blend of traditional charm and contemporary infrastructure makes it an ideal destination for Arabian investment in the tourism and hospitality sectors

As the opportunity increases, this pivotal gathering will explore the growing and diverse investment opportunities in the country’s hospitality sector. The summit will bring together international investors, developers, financiers, and hospitality leaders to showcase Morocco’s innovative funding programmes, investment incentives, and strategic infrastructure opportunities for growing tourism.

“The summit will provide a tailored investment environment for Gulf countries, focusing on culturally resonant sectors, highlighting mutually beneficial economic opportunities, and underscoring Morocco’s position as a strategic trade and tourism hub,” said Erwan Garnier, Senior Director of Development, Africa, Radisson Hotels.

SMIT’s targeted approach to attracting and incentivising hospitality investment aligns with the strategic interests, economic goals, renewable energy, agri-tech opportunities and cultural ties shared between Morocco and the Arabian region. Further, the summit will highlight the opportunities for hotel brands and investors to establish themselves in Morocco’s thriving hospitality market with immense potential.

The Morocco Showcase Summit will provide a dealmaking platform for attendees to learn about the country’s investment opportunities, network with key stakeholders, and gain insights from industry experts. For more information about the conference, to download the agenda and to register, please visit https://apo-opa.co/3AFxkrx

NOTE TO INVESTORS: Contact Murray at murray@apievents.com to secure your complimentary seat at the Morocco Showcase Summit.

Distributed by APO Group on behalf of API Events.