Infrastructure |

World Bank Approves US$700m guarantees for Ghana’s Energy Transformation

Washington, US (Capital Markets in Africa) – The World Bank’s Board of Directors today approved a record investment of $700 million in guarantees for Ghana’s Sankofa Gas Project – a transformational project that will help address the country’s serious energy shortages by developing new sources of clean and affordable natural gas for domestic power generation. The Board approved a unique combination of two guarantees for the Project – an IDA* Payment guarantee of $500 million that…

Africa50 raises USD 830 million for infrastructure in Africa

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ABIDJAN, Côte d’Ivoire (Capital Markets in Africa) — Africa50, the new and innovative infrastructure investment platform promoted by the African Development Bank held its Constitutive General Assembly on the 29th of July 2015 in Casablanca, Morocco. Twenty (20) African countries and the African Development Bank have subscribed for an initial aggregate amount of USD 830 million in share capital. These founding African countries are Benin, Cameroon, Congo, Djibouti, Egypt, Gabon, Ghana, Ivory Coast, Madagascar, Malawi, Mali, Mauritania,…

IDC Zambia and IFC cooperate on fast-track development of two 50 MW Scaling Solar projects

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Lusaka, Zambia (Capital Markets in Africa) – International Finance Corporation (IFC), a member of the World Bank Group, has signed a memorandum of understanding with the Industrial Development Corporation of Zambia to explore development of two 50 MW solar PV independent power projects in Zambia through the Scaling Solar program. The projects would be Zambia’s first utility scale PV projects, providing competitively priced, clean power that would reduce Zambia’s dependence on hydro resources and diversify the…

Scatec Solar to build first large scale solar plant in Mali

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BAMAKO, Mali (Capital Markets in Africa) — An historic agreement to Build-Own-and Operate West Africa’s first utility-scale solar power plant was signed here today by Norwegian company Scatec Solar and its partners, the Malian Ministry of Energy and Water and Electricité du Mali (EDM), the electricity utility of Mali. To be located near the ancient city of Segou in South-East Mali, 240 kms from Bamako, the 33 MW solar project is being developed in partnership…

AfDB approves €16.7 million to improve electricity access in Guinea Bissau’s capital

Posted on by The Editorial Team

Abidjan, Cote d’Ivoire (Capital Markets in Africa) — The African Development Bank (AfDB) Group announced on Wednesday, June 8 the approval of €16.7 million (a €9-million loan and a €7.7-million grant) in financing toward a program which aims to strengthen the electricity distribution network in Guinea Bissau’s capital by rehabilitating the facilities of 31,000 existing subscribers; connecting 10,500 new subscribers; and improving the commercial management and governance of the public utility, the National Electricity and…

Zambia’s capital city to receive US $50 million for sustainable urban sanitation

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Lusaka, Zambia (Capital Markets in Africa) —- The Board of Directors of the African Development Bank (AfDB) Group on June 24, 2015 approved a loan of US $50 million to finance the Lusaka Sanitation Program targeted at Lusaka, the capital city of Zambia. The Executive Directors, in approving the loan, expressed their satisfaction with the innovative approach in addressing the challenges of sanitation particularly among the poor in informal settlements. They urged the African Development…

Egyptian Resorts to build US$2.5m solar power plant

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Cairo, Egypt (Capital Markets in Africa) — Egyptian Resorts Company has signed a long-term lease contract with KarmSolar for the establishment of a solar power plant at a cost of US$2.5 million, the company reported in the filling to the Exchange on Sunday. The plant, whose production capacity would be not less than 2 Megawatt, is scheduled to start operation by the second half of 2016, the company added. In addition, Egyptian Resorts Company will…

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