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GuarantCo opens new East Africa office

GuarantCo has opened a new office in Nairobi to cover the East and Southern African markets. Jane Kotut Sang has been appointed as the regional director, and Eugene Ntananga will support her as the regional advisor.

GuarantCo will provide local currency and US dollar guarantees for infrastructure projects, especially in energy, transport and housing, to banks, developers and institutional investors and has a guarantee-issuing capacity of nearly USD1bn for local currency guarantees in both Sub Saharan Africa and South East Asia. The company anticipates that around 50% of its business will come from Africa: ‘The growing volume of local currency savings and pension pools as well as the development of the local capital markets will create opportunities for structuring new forms of financing which GuarantCo hopes to support.’

GuarantCo is a facility of the Private Infrastructure Development Group (PIDG), a multilateral organisation backed by eight donor governments and the World Bank. It is managed by Frontier Markets Fund Managers Limited (FMFML) who are owned by Harith, managers of the USD630M Pan African Infrastructure Development Fund (PAIDF).

Source: Africa Assets

 

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