Equatorial Guinea, Burkina Faso Agree LNG Supply and Sales Pact

Equatorial Guinea, Burkina Faso Agree LNG Supply and Sales Pact

LAGOS (Capital Markets in Africa) – Equatorial Guinea said it signed a memorandum of understanding with Burkina Faso to supply the West African nation with liquefied natural gas and build infrastructure to import, store and transport the fuel. The initial three-year agreement compels both sides to negotiate and sign an LNG supply agreement and a terminal use deal, Equatorial Guinea’s Ministry of Mines, Industry and Energy said in an emailed statement on Monday. The countries will…

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Burkina Faso Gets Solar Plant After Energy Policy Change

Burkina Faso Gets Solar Plant After Energy Policy Change

OUAGADOUGOU (Capital Markets in Africa) – Burkina Faso signed an agreement to build a solar plant in the first such deal after the West African nation adopted legislation that authorizes private investment in the energy sector. Windiga Energy Inc. of Canada will install 85,000 photovoltaic panels to generate about 20 megawatts in the north-western outskirts of the capital, Ouagadougou, the country’s energy minister, Alfa Omar Dissa, told reporters after the signing ceremony on Tuesday. The project…

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Building Starts on Solar Plant to Power Burkina Faso Gold Mine

Building Starts on Solar Plant to Power Burkina Faso Gold Mine

OUAGADOUGOU (Capital Markets in Africa) – Construction has begun on a 15-megawatt solar project to help power Iamgold Corp.’s Essakane gold mine in Burkina Faso, developers Eren Renewable Energy SA and Africa Energy Management Platform said Tuesday. The project, which is expected to cost $20 million, is scheduled for completion in January 2018, according to Christophe Fleurence, Eren’s vice president for business development in Africa. The developers have signed a 15-year power purchase agreement with…

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USTDA Promotes Solar Energy Development in Burkina Faso

USTDA Promotes Solar Energy Development in Burkina Faso

LAGOS (Capital Markets in Africa) – The U.S. Trade and Development Agency awarded a grant to Société de Production d’Energie Solaire de Kodéni SAS today for a feasibility study for two 17 megawatt solar photovoltaic plants near the villages of Pá and Kodéni in Burkina Faso. The solar plants are being developed by BioTherm Energy, a South African renewable energy company. Burkina Faso has one of the least developed energy sectors in Sub-Saharan Africa. Less…

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Injaro sells stake in Burkina Faso seed producer

Injaro sells stake in Burkina Faso seed producer

Lagos (Capital Markets in Africa) – Injaro Investments, the manager of the agricultural impact fund IACHL, announces the sale of its 30% stake in seed producer NAFASO SA to the founders and other shareholders. This share sale represents a full exit from Nafaso after a holding period of just under four years. Injaro invested in Nafaso in March 2013. The company’s aim was to leverage the investment from Injaro (i) to increase Nafaso’s output of…

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Afreximbank Targets $1.5 Billion Support for Burkina Faso’s Five-Year Plan

Afreximbank Targets $1.5 Billion Support for Burkina Faso’s Five-Year Plan

Ouagadougou (Capital Markets in Africa) – The African Export-Import Bank (Afreximbank) will arrange up to $1.5 billion in multi-sourced finance to support projects and initiatives under Burkina Faso’s five- year National Economic and Social Development Plan (PNDES), Bank President Dr. Benedict Oramah has announced in Ouagadougou. Speaking on Tuesday after a meeting with Roch Marc Christian Kaboré, President of Burkina Faso, Dr. Oramah, said that the support would target activities aimed at building capacity in…

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Investment | Turkey’s MNG Gold to Invest $45 Million in Burkina Faso Mines

Investment | Turkey’s MNG Gold to Invest $45 Million in Burkina Faso Mines

Ouagadougou, Capital Markets in Africa: Turkey’s MNG Gold is spending $45 million to mine gold in Burkina Faso after obtaining two projects in Africa’s fourth-largest producer of the metal. The Balogo pit in the south of the country will yield 100,000 ounces annually when production starts this year, Richard Zongo, MNG Gold’s country manager, said in an interview. To guarantee the profitability of the mine, which has a lifespan of only two years, the company bought the rights…

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