African Development Bank and Ethiopia sign agreement for first phase of Ethiopia–Djibouti transport corridor

The government of Ethiopia and the African Development Bank Group have signed a USD98-million grant agreement from the African Development Fund (ADF). The grant aims to finance the first phase of the Ethiopia–Djibouti Road Transport Corridor Project. The project includes the construction of the first 60 km of a 4-lane expressway section of the new 126 km stretch from Adama to Awash including the design of a one-stop border post at Dewele. The project aims to enhance trade through reducing transport costs accelerating the economic growth of Ethiopia and its neighbor Djibouti.

Source: Africa Business Communities

Africa

African Union, African Development Bank sign USD4.8-million grant for the continental free trade secretariat

The African Development Bank Group has signed off on a USD4.8-million institutional support grant to the African Union (AU) to implement the African Continental Free Trade Area (AfCFTA) agreement. The grant was approved on the 01 April 2019 as a series of interventions by the Bank to accelerate implementation of the Free Trade Agreement. The Continental Free Trade deal could possibly create the largest free-trade area in the world uniting African countries with a combined gross domestic product of more than USD2.5-trillion.

Source: Africa Business Communities

Angola

Delay in licensing leads to illegal logging in Angolan province of Kwando Kubango

Daily newspaper Jornal de Angola has reported that a delay in granting logging licenses has contributed to an increase in illegal logging in the Kwando Kubango region. Joaquim Santana, president of the Lumberjacks Association said that while “waiting for logging licenses to be issued and with the end of the forest campaign in October, many loggers began illegal and disorderly logging some tree species”. Joaquim went on to highlight that the situation has serious implications for Kwando Kubango’s economic development resulting in a loss of significant revenues from timber exploitation and sale.

Source: Macauhub

Egypt

IFC and MIGA to support landmark wind farm on Egypt’s Gulf of Suez

The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) have signed an agreement to support the development of a 252 MW wind farm by Lekela in Egypt’s Red Sea governorate called West Bakr Wind. IFC will provide USD84-million in financing while MIGA will propose USD122-million in financial guarantees. The wind farm is located in the Gulf of Suez and is expected to produce over 1,000 gigawatt hours per year, at a tariff well below the average cost of generation in Egypt.

Source: Africa Business Communities

Ghana

USD5.7-million obtained from Germany for a 400 kW Biomass Power Plant

Ghana has secured a financing agreement with Germany for the construction of a biomass plant. The plant will have a capacity of 400 kW and is said to improve the country’s solid waste management. The plant will operate through a combination of solar photovoltaic technologies as well as biomass pyrolysis.

Source: Ecofin

Ivory Coast

Moroccan Agentis to build a new USD50-million hospital near Abidjan

Moroccan company Agentis is in the process of constructing a new hospital in Côte d'Ivoire. The regional hospital center (CHR) in will be located in Adzopé, 100KM north of Abidjan. The hospital is said to cover over 10 hectares and has an estimated capacity of 200 beds. It would be equipped with three operating theaters, scanner rooms, 10 dialysis stations, a laboratory and an emergency department. The construction is part of an agreement signed between the Moroccan company and the Ivorian government last May and is said to improve the country’s solid waste management.

Source: Ecofin

Kenya

Kenya scores on wind energy front with help from AfDB

The project has been called “Africa’s largest wind farm” and is currently estimated at EUR620-million. The wind farm has 365 turbines in northern Kenya and will generate an estimated 310MW of power to the national grid, enough to power up to 300,000 households. The African Development Bank served as lead arranger for EUR436-million in senior credit facilities towards the project cost and also provided a partial risk guarantee from the African Development Fund of EUR20-million for the part of the project devoted to the transmission lines.

Source: ESI Africa

Kenya

Kenya plans new USD1.45-billion syndicated loan

According to Business Daily news Kenya is said to have secured a syndicated loan of 150 billion shillings (USD1.45-billion) from international banks allowing the Kenyan government to finance its budget 2019. The loan will mature in six years at an interest rate of 8.65%. According to media reports, the country is also looking to obtain funding in several tranches.

Source: Ecofin

Mozambique

Solar plant in Mozambique starts commercial operation

Scatec Solar, a Norwegian company has confirmed that its solar power plant, located at Mocuba in Zambázia province, Mozambique has initiated its first commercial operation following its connection to the national power grid. The partners of this venture are KLP Norfund Investments (22.5%), Electricidade de Moçambique (25%) and Scatec Solar (52.5%). The plant has a capacity of 40 megawatts and aims to provide 79-gigawatt hours of electricity to 175,000 homes in northern Mozambique.

Source: Macauhub

Mozambique

Construction of LNG project kicks off in Mozambique

Mozambique’s President, Filipe Nyusi has laid the foundation stone kicking off the LNG project of a consortium led by the US multinational Anadarko. The project is located in the Rovuma Basin Offshore Area 1 where approximately 75 trillion cubic feet of recoverable natural gas was discovered. The project is said to make Mozambique the largest producer and exporter of gas in Africa.

Source: ESI Africa

Namibia

Namibia launches the expanded Walvis Bay Port

Namibia has launched its refurbished harbour. The port marks the completion of a project co-financed by the African Development Bank to support Namibia in establishing the port of Walvis Bay as the preferred port for southern and central African logistics operations on the west coast of the continent.

Source: Africa Business Communities

Rwanda

Amsterdam-based NOTS Solar Lamps to invest USD70-million for Solar Home Systems

The government of Rwanda has signed a deal with Amsterdam-based company NOTS Solar Lamps to provide access to electricity to low income families in the country. As part of this deal, NOTS will invest USD70-million over a period of 5 years in a manufacturing facility for Solar Home Systems (SHS). In return the Rwandan government will purchase 100,000 units valued at USD-5.6-million. NOTS aims to make “electricity more affordable, more available and much more reliable than kerosene lamps and phone charging kiosks”.

Source: Africa Business Communities

Tanzania

Tanzania enters deal with Chinese firms for construction of modern bridge

The Tanzanian government and Chinese groups China Civil Engineering Construction Corporation and China Railway 15th Bureau Group have signed an agreement to construct a 3.2KM bridge over parts of Lake Victoria. The bridge will connect the Kigongo and Busisi areas in Mwanza region and will reduce transport time and facilitate trade among countries in the region.

Source: Africa Business Communities