Tuesday, July 16, 2019
Eskom has rubbished weekend news reports that a World Bank loan may be recalled. Despite a recent board overhaul, the embattled power utility was downgraded by rating’s agency Moody’s late Friday. It faces further downgrades if it’s not able to service...
Egypt Minister of Investment and International Cooperation Sahar Nasr on Sunday signed third and final tranche budget support loan worth US$500 million for governance reforms in Egypt with the African Development Bank’s (AfDB) country manager for Egypt Malinne Blomberg. This...
The Public Investment Corporation has made an equity investment in South African stock exchange, ZAR X, on behalf of the Government Employees Pension Fund. The PIC acquired a 25% stake in the group, which has a trading value of R3.7...
London, United Kingdom: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders Agreement with Berkeley Energy, committing US$30m of equity investment to the ground-breaking Corbetti Geothermal project, doubling its original commitment of US$15m. ‘The US$30...
The Emerging Africa Infrastructure Fund (EAIF) will be supporting the refinancing of Mozambique’s latest power station. The fund has signed a Participation Agreement with the International Finance Corporation (IFC), and will be supplying US$21mn in a B loan to the...
Following prolonged delays in the expansion of the Hwange Thermal Power Station, due to financial constraints, the project has secured $116 million to proceed. The Zimbabwe Power Company (ZPC) is set to receive equity contributions from Standard Bank South Africa...
JPMorgan Chase & Co plans to expand its African presence into countries including Ghana and Kenya, Chief Executive Jamie Dimon said in an interview on Wednesday. “You’ll see us open in some countries we are not in, in Africa you’ll...
InfraCo Africa, part of the multi-lateral Private Infrastructure Development Group (PIDG), has signed a joint development agreement worth US$3.1mn to develop the Khoumagueli Solar PV project in the Republic of Guinea The Khoumagueli project aligns with the government of Guinea’s...
There is an urgent need for accelerated infrastructure development in rural areas in order to curb poverty and its related challenges across the country, the Nigerian Society of Engineers has said. Participants, who spoke at the recent pre-investiture colloquium organised...
InfraCo Africa has partnered France-based developer Solvéo Energie by committing up to US$3.1million for a 45% equity interest in the development of a 40MW solar project in the Republic of Guinea in West Africa. InfraCo Africa, part of the multi-lateral Private...
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