Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

Energy stakeholders call on new financing mechanisms to support off-grid and mini-grid connectivity in Africa

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COTE D’IVOIRE – Stakeholders in the energy industry have called for restructuring of  financing mechanisms in order to enable the development of off-grid and mini-grid connectivity in Africa. The sentiment was made during the 5th Energy Access Investment Forum in Abidjan, Cote…

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

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AFRICA – The African Development Bank (AfDB) announced that it will double its climate finance commitments for the period 2020-2025 to at least US$25 billion. The announcement was made by Akinwumi A. Adesina, the Bank’s President during the One Planet Summit in…

South Africa’s Competition Commission nods Glencore’s Chevron merger

South Africa’s Competition Commission nods Glencore’s Chevron merger

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SOUTH AFRICA – The Competition Commission of South Africa has recommended that the Competition Tribunal conditionally approve Glencore’s proposed acquisition of the Chevron SA assets. However, the commission highlighted that the proposed transaction had raised public-interest concerns and hence has recommended its…

South African energy firm Tetra4 secures US$40m loan to finance energy project

South African energy firm Tetra4 secures US$40m loan to finance energy project

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SOUTH AFRICA – Tetra4, a South African energy firm and Renergen’s subsidiary, has received a US$40million loan facility for its Virginia gas field project. The loan facility was made by Overseas Private Investment Corporation (Opic), the US government’s development finance institution. Renergen…

AFC invests US$197.8m in Cote d’Ivoire hydroelectric power project

AFC invests US$197.8m in Cote d’Ivoire hydroelectric power project

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Cote d’Ivoire – The Africa Finance Corporation (AFC), an infrastructure development finance institution in Africa, announced financial close of a credit facility towards Cote d’Ivoire’s 44-MW Singrobo-Ahouaty hydroelectric power project (SAHP). AFC’s commitment to the Ivoire Hydro Energy (IHE) amounts to a…