Syndicate content

October 2012

MIGA in Libya: Boldly Going Where No Political Risk Insurer Has Gone Before

Hoda Atia Moustafa's picture

The New Libyan FlagLast month, MIGA signed its very first contract of guarantee for a project in Libya. The guarantee covers an investment by Jafara Company to expand a beverage and harissa plant outside of Tripoli. (Harissa, if you have never had it, is sometimes known as the "ketchup of North Africa" — a hot chili sauce used to spice up North African foods.) The €7 million contract, underwritten through MIGA's Small Investment Program, provides cover against losses due to expropriation, war and civil disturbance, and transfer restriction. The project came to MIGA through a private equity fund out of Tunisia, AfricInvest, which is indirectly investing in Jafara through a partial acquisition from its previous owner, the MIMS Group of Bosnia-Herzegovina. 

Bujagali is Commissioned! Uganda Nearly Doubles Electric Capacity in One Fell Swoop

Marcus Williams's picture

This past Monday I was present as the 250 megawatt Bujagali hydropower plant on Uganda’s River Nile – supported by MIGA, Photo by Marcus Williams, MIGAas well as our sister institutions the World Bank and IFC – was commissioned into active service.

After many years of preparation and planning, this was an auspicious moment indeed for Uganda, with the plant’s opening coinciding with the Jubilee celebrations marking the country’s 50 years of national independence. The new Bujagali power plant comes close to doubling the country’s electricity capacity and in a single step has elevated Uganda to having the second largest kilowatt consumption per capita in East Africa, following  Kenya.

Are MIGA Guarantees Governance Products?

Olivier Lambert's picture

I’ve considered whether MIGA guarantees are, in effect, governance products. Readers might rightly ask how I’ve come to this conclusion. Consider what a governance product is:  something that supports good governance (and by this we mean, first and foremost, eliminating corruption and its incentives). Thus, could not a MIGA guarantee be recognized as a governance product from two perspectives—that of the company that is our guarantee holder and that of the country host to a  MIGA-insured investment?