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GuarantCo provided a XAF 23.5 billion (c. USD 38.4 million) guarantee solution to Société Générale Cameroun (SG) and Société Commerciale de Banque Cameroun (SCB), a subsidiary of Attijariwafa Bank Group, to finance TollCam, a project company established by Egis and Fayat. The financing comprises a 14-year combined liquidity extension and partial credit guarantee to support debt for the modernisation, operation and maintenance of 14 toll plazas across Cameroon. The project is being developed by the sponsors under a 20-year PPP agreement with the Government of Cameroon (GoC). The combined guarantees will help SG and SCB provide XAF 32.5 billion (circa USD 52.5 million) of long-term debt arranged by Société Générale Côte d'Ivoire to support the toll development project.
- First combined guarantee solution (liquidity extension and partial credit) for GuarantCo
- First financing agreement solely focussed on toll plaza infrastructure in Africa
- First road-related Public Private Partnership (PPP) in Cameroon
The proceeds from the bond guaranteed by GuarantCo have enabled PRAN Agro’s expansion plans including land development, construction, storage facilities and processing machinery. The expansion is expected to result in over 20 percent increased sourcing from local farmers, contributing to rural income and food security. The investment into PRAN Agro has also provided much needed job security. The company currently employs 11,000 employees, 67 percent of which are women.
The climate mitigation guarantee will be utilised to accelerate the Electric Vehicle (EV) eco-system in India through capex financing of a wide range of entities engaged in manufacturing, distribution and servicing of electric vehicles, batteries and charging infrastructure. This guarantee-backed debt funding is a first of its kind initiative in India which is expected to accelerate the development of the EV ecosystem in the country. Each qualified loan made by Axis Bank to the underlying borrowers will be partially credit guaranteed with a maximum tenure of up to 10 years. Loan proceeds within the framework agreement will be used for greenfield capital expenditure in EV infrastructure.
GuarantCo, part of the Private Infrastructure Development Group, and Axis Bank, the third largest private sector bank in India, have signed a framework guarantee agreement to provide the latter with an USD 200 million INR equivalent guarantee, allowing mobilisation of funds between USD 300 and 400 million in local currency to finance the e-mobility ecosystem in India.
GuarantCo provided a XOF 14.55 billion (c. USD 25 million) portfolio guarantee to Orabank Togo, the largest bank in the country. The guarantee allows Orabank to benefit from capital relief, enabling the bank to grow its infrastructure portfolio whilst remaining within single obligor limits. Supported projects include telecommunications and road projects in Togo.
GuarantCo, part of the Private Infrastructure Development Group (PIDG), has provided a XOF 14.55 billion (c. USD 25 million) portfolio guarantee to Orabank Togo, the largest bank in the country. The guarantee allows Orabank to benefit from capital relief, enabling the bank to grow its infrastructure portfolio whilst remaining within single obligor limits. Supported projects include telecommunications and road projects in Togo.
GuarantCo and SBM Bank Kenya, a local commercial bank, provided a KES 1.6 billion (c. USD 15 million) financing solution to Bboxx Kenya, a next generation utility company, to invest in affordable solar home systems for 470,000 Kenyans. GuarantCo supported the transaction with a KES 1.2 billion (USD 11.25 million) partial credit guarantee of 75 percent against the loan facility.
GuarantCo, part of the Private Infrastructure Development Group (PIDG), and SBM Bank Kenya, a local commercial bank, provided a KES 1.6 billion (c. USD 15 million) financing solution to Bboxx Kenya, a next generation utility company, to invest in affordable solar home systems for 470,000 Kenyans. GuarantCo supported the transaction with a KES 1.2 billion (USD 11.25 million) partial credit guarantee of 75 percent against the loan facility.
GuarantCo and Bank Alfalah have provided Shams Power with a PKR 2 billion (c. USD 11.3 million) financing solution to support the construction of approximately 21 MW small rooftop and ground mounted solar plants at commercial, industrial and institutional (e.g. university, hospital) sites across Pakistan to reach grid connected users. In addition to GuarantCo’s existing guarantee of PKR 1.5 billion (c. USD 9 million), covering 75 percent of the loan facilities, the company has committed an additional guarantee of PKR 1.5 billion to support Shams Power’s debt raising in 2022 to construct a further 21 MW of distributed solar plants. Against GuarantCo’s guarantee facility, Bank Alfalah will provide the PKR 2 billion first phase of financing in the form of a 10-year term loan that benefits from the Renewable Energy Refinancing Scheme set up by the State Bank of Pakistan.
GuarantCo, part of the Private Infrastructure Development Group (PIDG), and Bank Alfalah have provided Shams Power with a PKR 2 billion (c. USD 11.3 million) financing solution to support the construction of approximately 21 MW small rooftop and ground mounted solar plants at commercial, industrial and institutional (e.g. university, hospital) sites across Pakistan to reach grid connected users.
GuarantCo Management Company (GMC) has appointed Layth Al-Falaki as its new Chief Executive Officer of GuarantCo starting mid-January 2022. GMC is the manager of GuarantCo, a Private Infrastructure Development Group (PIDG) company.
