OPIC provides $5 mln loan to sole automaker in Kenya

By Chris Witkowsky — 6 days ago

Overseas Private Investment Corp, the U.S. Government’s development finance institution, made a $5 million loan to Mobius Motors Kenya, which makes vehicles in Africa designed for the region’s roads and drivers. OPIC’s $5 million loan is part of an $11 million financing package that includes New York-based PanAfrican Investment Co. Mobius is the only company making cars in Kenya and will use the OPIC loan to expand production. Specifically, it will use the financing to build a manufacturing facility near Nairobi. The company, which has made and sold 50 vehicles, plans to produce an additional 1,900 vehicles by 2019.


García-Guerra named executive director of Bravo Family Foundation

By Luisa Beltran — 7 days ago

The Bravo Family Foundation said April 13 that it appointed Guiomar García-Guerra, EdD as its executive director. García-Guerra will work to build a long-term plan for the foundation’s permanent mission in Puerto Rico. The Bravo Family Foundation is the charitable fund founded by Orlando Bravo, co-founder of Thoma Bravo.