BUA Cement, a cement producer headquartered in Nigeria has raised $500 million in a financing deal led by the International Finance Corporation (IFC) and a group of African and European partners.
The $500 million financing deal includes $160.5 million from IFC, $94.5 million loan through the Managed Co-lending Portfolio Program (MCPP), and $245 million in parallel loans from syndication partners; the African Development Bank (AfDB) – $100 million, the Africa Finance Corporation (AFC) – $100 million, and the German Investment Corporation, Deutsche Investitions- und Entwicklungsgesellschaft (DEG) – $45 million. This is IFC’s largest-ever investment in Northern Nigeria.
“Following an initial $200 million investment in BUA Group in 2021, we are proud to play another key role in this landmark manufacturing project set to transform the construction sector in northern Nigeria and the entire country. By investing in this project, we are sustainably building…
