Egypt’s Minister of Electricity and Renewable Energy alongside the New & Renewable Energy Authority has inaugurated the 200 MW Gulf of ElZayt Wind Farm on the west bank of the Gulf of Suez, setting a massive precedent for renewable power development in the region.
The Overseas Private Investment Corporation, the US Government's development finance institution, and IFC, a member of the World Bank Group, last week signed financing agreements for the 53 megawatt Cap des Biches power plant with project developer ContourGlobal, the Government of Senegal, and Senegal’s national electricity utility to help address growing demand for electricity in the country.
The development bank of Austria, Oesterreichische Entwicklungsbank (OeEB) has committed €10m ($10.64m) to the SANAD Fund for MSME (micro, small and medium enterprises) in the Middle East and North Africa (MENA).
IFC, a member of the World Bank Group, and the IFC Asset Management Company, have invested $27m in Souq, the largest e-commerce platform in the Middle East and North Africa (MENA).
Accion, a global nonprofit organization dedicated to financial inclusion, has announced a UGX 4.8bn ($1.41m) investment in UGAFODE Microfinance (UGAFODE MDI), one of the fastest growing microfinance institutions in Uganda.
Standard Chartered Bank and the Swedish Export Credit Corporation (SEK), have funded Millicom’s acquisition of an 85% majority stake in Tanzania’s Zantel, a local mobile telecom operator on the island of Zanzibar.
The Public Investment Corporation (PIC) has provided a $55m (R800m) debt funding facility to Allied Mobile Africa, one of the largest integrated supply chain solutions partners supporting operators, service providers and retailers in Africa.
Access Infra Africa, a pan-African developer, owner and operator of power assets, has signed a joint development agreement with Quaint Global Energy Solutions to invest in the $100m ABIBA Solar Project, a 50 MW solar power plant being developed in Kaduna state.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has committed over $1.6bn to support President Obama’s Power Africa initiative, thus surpassing its initial financing and insurance goals.
BIO, the Belgian Investment Company for Developing Countries, and the Norwegian development bank, Norfund have partnered to support the development of a small hydro power station in Uganda, Rwimi SHPP.
IFC, a member of the World Bank Group, has provided a $60m loan to PanAfrican Energy Tanzania to help develop Tanzania’s offshore natural gas reserves.
Standard Bank Group has expanded its already extensive East African footprint with the official opening of a representative office in Addis Ababa, Ethiopia.
The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has invested $200m in Seven Energy International, an independent Nigerian integrated oil and gas development, production and gas distribution company.
The Overseas Private Investment Corporation (OPIC) has committed $15m to finance Txtlight Power Solutions, doing business as Nova-Lumos (Lumos), an off-grid electricity provider, to scale up a business that provides solar electricity to homes and small business throughout Nigeria.
