Burkina Faso |

China Offers Infrastructure to Cement New Ties With Burkina Faso

BURKINA FASO (Capital Markets in Africa) – Months after severing ties with Taiwan, Burkina Faso says it’s counting on Chinese money to get large infrastructure projects off the ground, including a key highway linking the West African nation’s two main cities. Burkina Faso broke off diplomatic relations with Taipei in May in favor of China, leaving only the tiny kingdom of Swaziland as the island’s last African ally and cutting the number of countries that…

Equatorial Guinea, Burkina Faso Agree LNG Supply and Sales Pact

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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…

Burkina Faso Gets Solar Plant After Energy Policy Change

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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…

Building Starts on Solar Plant to Power Burkina Faso Gold Mine

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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…

USTDA Promotes Solar Energy Development in Burkina Faso

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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…

Injaro sells stake in Burkina Faso seed producer

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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…

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

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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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