Inspiring Leadership & Sustainable Business Transformation in Africa
SENEGAL – The Board of Directors of the African Development Bank Group has approved a loan of €63.6 million (US$63.91m) to Senegal to implement the Agropole-Centre agro-industrial processing zone project. The Ministry of Industrial Development and Small and Medium Industries will implement the project in four regions in central Senegal: Kaolack, Kaffrine, Fatick, and Diourbel. Its implementation will help increase…
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AFRICA – Development finance institution the International Finance Corporation (IFC) has appointed Madalo Minofu as country manager for Ethiopia, Malawi and Zambia. This appointment will strengthen the role of the private sector in energy, telecommunications, manufacturing and agribusiness development to create jobs and opportunities as the region continues its Covid-19 recovery and confronts new economic challenges. Minofu will be based…
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TANZANIA – The World Bank approved additional financing of US$335 million to support Tanzania’s efforts to scale up grid extension and grid densification, following the country’s achievement as one of the fastest electricity access expansion rates in Sub-Saharan Africa over the past decade. The new International Development Association (IDA) credit to the Tanzania Rural Electrification Expansion Program (TREEP) will facilitate…
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BOTSWANA – Renewable energy solutions provider Scatec and the Botswana Power Corporation (BPC) have signed a binding 25-year power purchase agreement (PPA) for the construction of a solar photovoltaic (PV) facility with a contracted capacity of 50 MW at Selebi Phikwe. Scatec owns 100% of the project and will be the designated engineering, procurement and construction company, asset manager, and…
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AFRICA – ECOWAS, the Federal Republic of Nigeria and the Kingdom of Morocco have signed a Memorandum of Understanding (MoU) for a gas pipeline project. According to a published joint communique, the Memorandum of Understanding attests to the commitment of ECOWAS and all the countries crossed by the gas pipeline, to contribute to the feasibility and technical studies, the mobilisation…
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GHANA – The Government of Ghana has signed a Memorandum of Understanding (MoU) with the African Trade Insurance Agency (ATI) for the rollout of the Regional Liquidity Support Facility (RLSF) within the country. The MoU is in line with the government’s mission to promote access to reliable, clean, and affordable electricity. RLSF, a joint initiative of ATI, the KfW Development…
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MALAWI – The Government of Malawi (GOM), IFC, Scatec and EDF have signed a binding commercial agreement to undertake the co-development of the Mpatamanga hydropower project. The agreement, signed under Malawi’s Public-Private Partnership framework, concludes the selection process undertaken by the Government of Malawi to competitively select a private sector partner to finance, build, and operate the Mpatamanga hydropower plant.…
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ANGOLA – Angola plans to complete the sale of stakes in national oil company Sonangol EP and diamond firm Endiama within the next five years. According to the chairman of the government’s asset-management agency the two companies were among the largest of 195 state-owned firms and assets the government initially earmarked for disposal between 2019 and this year. The onset…
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AFRICA – The African Development Bank (AfDB) and the African Continental Free Trade Area (AfCFTA) Secretariat have signed a US$11.24 million institutional support grant agreement. The Protocol of Agreement is an US$11.24 million support package meant to enhance the Secretariat’s effective implementation. The AfCFTA Secretariat, currently in phase II of its implementation phase, will benefit from this support package, which…
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KENYA – The Government of Kenya has announced, through the Energy Cabinet Secretary Monica Juma, plans to pilot green hydrogen projects. This is part of their efforts toward the provision of clean, affordable and sustainable energy. Juma, who spoke during the Kenya Power’s inaugural Manufacturers, Technology and Innovation Expo opening, said the move will assess the feasibility of large-scale green…
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