Renaissance Management Group (RMG) affiliate Cedar USA secures $10 million credit facility from the U.S. Export Import Bank on behalf of Spencon Kenya Ltd. The financing will enable Spencon to purchase Caterpillar construction equipment. Spencon is a leading East African construction and engineering firm that has played a significant role in the development of infrastructure projects in Kenya, Uganda, Tanzania, Zambia and Sudan for the past two decades. Learn more about Spencon at www.spencon.com
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Renaissance Management Group (RMG) proudly announces that our Director, David M. Roebuck, PE, has been appointed to a second term as a member of U.S. Export-Import Bank’s Sub-Saharan Africa Advisory Committee (SAAC). Mr. Roebuck will continue to provide Ex-Im Bank with expert guidance in developing policies to strengthen bank support of U.S. exports to Africa.
In fiscal year 2008, Ex-Im Bank authorized $14.4 billion in financing to support an estimated $19.6 billion of U.S. exports worldwide. Eighty-six percent of nearly 2,328 transactions directly benefited small-business exporters. For sub-Saharan African markets alone during fiscal year 2008, Ex-Im Bank authorized more than $555.3 million in export-credit insurance and guarantees, and $20.2 million in working capital guarantees. For more information visit www.exim.gov.
Renaissance Management Group, Inc. (RMG) is pleased to announce that we have established a Kenyan subsidiary to expand our brand portfolio into East Africa. The new company will be based in Nairobi, Kenya and is a joint venture with Cedar Investments, a prominent Kenyan financial advisory and consulting firm.
Renaissance Management Group (RMG) is pleased to announce that the Export-Import Bank of the United States has appointed our Director, David M. Roebuck, PE, to its Sub-Saharan Africa Advisory Committee (SAAC). Sub-Saharan Africa is a priority region for Ex-Im Bank and Mr. Roebuck will provide expert guidance to the Bank in the development of policies that strengthen U.S. exports to Africa.
Ex-Im Bank is the official export credit agency for the United States and helps to finance the sale of U.S. exports to emerging markets around the world. This year alone, Ex-Im Bank has authorized $12.6 billion in loans guarantees and export credit insurance to support in estimated $16 billion worth of U.S. exports.
For more information about Ex-Im Bank visit http://www.exim.gov/
Renaissance Management Group, Inc. (RMG) is pleased to announce that we have obtained a $250 million funding commitment from Merrill Lynch to support the Government of Ghana’s affordable housing project. The funding commitment enables RMG to extend a supplier’s credit to the Government of Ghana in support of the first phase of our commitment to construct 15,000 units of affordable housing for the West African nation.
“The development of affordable housing is a key priority for the Government of Ghana and this commitment from Merrill Lynch is a significant step toward making affordable housing a reality for the Ghanaian people. However, this is not the final step. The Supplier’s Credit Agreement and Housing Construction Contract require final approval by Cabinet as well as the Parliament of Ghana” states Tshaka Lafayette, RMG’s General Counsel and VP of Corporate Development.
Renaissance Management Group (RMG) will provide financial and technical support for Nigerian infrastructure projects to the Urban Development Bank of Nigeria, PLC (UDB) under an agreement executed this month. Kevin Hayden, RMG President and CEO, states “RMG is a company dedicated to sustainable African development. In this vain, we are happy to renew our agreement to support UDB as it is a leading infrastructure development bank for Nigeria. We also commend Engineer Lucas Negedu, UDB’s Head of Consultancy and Managing Director, for his vision and leadership in helping to build and upgrade Nigerian infrastructure.”
To learn more about Urban Development Bank of Nigeria, Plc. visit http://www.udbng.com/
Renaissance Management Group (“RMG”), has entered into a contract with Benue State Government of Nigeria to study the feasibility of building a cement manufacturing facility in Benue State. RMG has arranged financing for the feasibility study with the U.S. Export-Import Bank working through Intercontinental Bank Plc. of Nigeria, a private Nigerian bank.
Tshaka Lafayette, RMG’s General Counsel and VP of Corporate Development, states “RMG is very pleased to conduct this feasibility study on behalf of Benue State. RMG is committed to sustainable economic development in Nigeria and throughout Africa and there is a strong business case that cement manufacturing is a central component to such development. However, a careful study of the ma rket is essential to getting it right. We also applaud U.S. Ex-Import Bank’s involvement in this important project as it provides an opportunity to potentially maximize EXIM financing for equipment and other U.S. content as a compliment to U.S.-based equity investment.”
To learn more about RMG Strategic Consulting or Financial Advisory Services, or to discuss how we may be of assistance to your organization, please contact RMG Sales Department for a confidential meeting.