The IFC is investing $2 million in equity into Caisse Régionale de Refinancement Hypothécaire, the West African Economic and Monetary Union’s regional mortgage refinancing company. It’s estimated that the West African Economic and Monetary Union zone faces a housing shortage of 3.5 million units. As forecasts of population growth of between 2.5-3.5 percent start to impact the region, the housing deficit could widen. With this support, the IFC hopes to contribute to helping fill the housing gap by enabling access to housing finance, promoting reforms and developing local expertise.
The Twinsaver Group, the Ethos Private Equity-backed tissue manufacturer, has acquired Validus Medical, a manufacturer of hygienic disposable products. The undisclosed deal is expected to close once the requisite regulatory and competitive approvals have been received. Twinsaver emerged from Ethos’s $144 million deal to acquire a significant portion of Nampak’s South African corrugated paper, sacks and tissue divisions closed in April 2015. The Validus Medical deal helps Twinsaver further diversify its FMCG product offering.