Category: Investments, Financials & Economy

BioNTech to start building mRNA vaccine factory in Africa in mid-2022

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RWANDA – German biotech company BioNTech has signed an agreement with the Rwandan government and Institut Pasteur de Dakar in Senegal on the construction of the first mRNA vaccine manufacturing facility in Africa starting in mid-2022, to help the continent ease health inequalities compared to other world regions. BioNTech, which developed the western world’s most widely used Covid-19 vaccines with partner Pfizer, will initially build a production line with 50 million doses annual capacity, which could be also used for Covid-19 vaccines, it said in a statement However, the partners…

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Standard Bank, Citi, Norfund and CDC Group partner to fund US$75m sustainability-linked facility in Kenya

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KENYA – Standard Bank Group, Citi, CDC Group and Norfund have partnered to provide a US$75 million Sustainable Finance Facility for Greenlight Planet Kenya. The landmark facility is one of the first sustainability-linked deals in Kenya, and one of the largest syndicated sustainable finance deals in the region to be provided in local currency. The transaction will allow Greenlight Planet to expand access to off-grid solar solutions to off-grid communities throughout Kenya and support its ambitions to reach an additional 10 million households globally in the next 5 years by…

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Raxio Group expands its Africa footprint with Ivory Coast’s first carrier-neutral data center

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IVORY COAST – Raxio Group, a pan-African data centre developer and operator, has invested in the first carrier-neutral Tier III data centre in Ivory Coast as it looks to expand its African footprint. The data centre developer and operator has revealed it will invest in ‘Raxio Abidjan’, which will be the latest facility of Raxio’s expanding network across Africa.  Earlier this year 2021, Raxio moved into Mozambique as part of its expansion and will now extend this to Ivory Coast with the development of the new data centre. Raxio Abidjan is being…

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MTN to invest US$218m Series II Bond proceeds in network expansion

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NIGERIA – Following approval from the Securities and Exchange Commission (SEC), MTN Nigeria has launched the book build in respect of the Series II 10-Year Fixed Rate Bond (Series II Bond) and have concluded plans to invest the proceeds from the book launch, which amounts to US$219 million in its network expansion drive, reports This Day. The telco had successfully raised US$268.2 million through the Series I bond in May 2021 and is set to raise US$487.6 million through Series II. This is just as the company has revealed that…

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Africa Investment Forum plans US$45m vaccine production plant in East Africa

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EAST AFRICA – The African Development Bank (AfDB) and its partners under the Africa Investment Forum are considering the establishment of a US$45 million vaccine plant in East Africa. While the location of the World Health Organization-prequalified vaccine production plant is not yet known, the facility will be capable of routine production of three vaccines, including for COVID-19. This will be part of a US$140 million investment being considered by the forum to boost vaccines and healthcare in West and East Africa. During the virtual roundtable event held on October…

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Telecom Egypt secures US$500m loan to support its capital expenditure

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EGYPT – Telecom Egypt has announced obtaining a new US$500 million medium-term syndicated loan to be used to support its capital expenditure and refinance existing short-term facilities. According to Telecom Egypt, First Abu Dhabi Bank PJSC and Mashreq Bank PSC were mandated as Joint Coordinators, Underwriters, Bookrunners, and Initial Mandated Lead Arrangers of the facility, similar to the medium-term syndicated loan obtained in October 2018. It added that FAB is also the Facility Agent for the transaction and Mashreq the designated Account Bank and the Documentation Agent. “I am very…

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Multinational effort brings the first solar field to Burundi

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BURUNDI – A multinational effort to bring solar power to Burundi has been realized with the commercial operation of the country’s first-ever solar field.   The pioneering 7.5 MW solar PV plant has increased Burundi’s generation capacity by over 10% and is the country’s first substantial energy generation project to go online in over three decades, supplying clean power to tens of thousands of homes and businesses – just before the start of COP26 in Glasgow, Scotland. The plant near the village of Mubuga supports international efforts to increase renewables…

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Orange inaugurates digital center in Abidjan

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CÔTE D’IVOIRE –  French multinational telecommunications corporation Orange and the German Development Cooperation are inaugurating an “Orange Digital Center” in Abidjan, an ecosystem entirely dedicated to the development of digital skills and innovation, attended by the highest political and administrative authorities from Côte d’Ivoire Spread over 1,200m2 for Côte d’Ivoire, the Orange Digital Center brings together the four strategic programs of the Orange group, namely: a coding school Orange Digital Academy, a FabLab Solidaire – part of the Orange Foundation’s digital manufacturing spaces, an Orange Fab start-up accelerator and Orange Ventures Africa, the…

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Africa REN starts construction for 38MW Burkina Faso solar project

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BURKINA FASO – West Africa-focused renewable energy independent power producer, Africa REN, has commenced construction for the 38 MW Kodeni Solar power plant in Burkina Faso after reaching financial close. Once completed, the renewable energy facility will be the largest solar power plant in the West African country. The plant is scheduled to be commissioned in August 2022 and Kodeni Solar plant will supply power to Burkina Faso’s state-owned electricity utility, SONABEL, via a  25-year power purchase agreement (PPA).  INEO by EQUANS, a subsidiary of French energy company, Engie Group, has been…

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Eskom join hands with coal giants Exxaro & Seriti to develop renewables

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SOUTH AFRICA – State-owned electricity utility Eskom, has signed a Memorandum of Understanding (MOU) with two of its largest coal suppliers, Exxaro and Seriti Resources, to jointly develop renewable energy projects to lower carbon footprint at their operations. Exxaro and Seriti supply around 80% of Eskom’s coal requirements annually and by implementing renewable energy solutions at their Eskom-tied operations and at related Eskom sites, Seriti and Exxaro aim to achieve both carbon reduction and cost savings in the generation and use of electricity at these mines. This is symbiotic with…

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