IsDB, ICD partner with MEBF to address issues faced by women entrepreneurs

BURKINA FASO – The Islamic Development Bank (IsDB) Group and its private sector development arm, the Islamic Corporation for the Development of the Private Sector (ICD), have joined hands with the government of Burkina Faso, through Maison de l’Entreprise du Burkina Faso (MEBF), to implement the Business Resilience Assistance for Value-adding Enterprises (BRAVE Women) Project in the country. This BRAVE Women Burkina Faso project falls under the sponsorship of the Women Entrepreneurs Finance Initiative (We-Fi), a collaborative partnership among fourteen donor governments (including Saudi Arabia), eight multilateral development banks (including…

Read More

Burkina Faso secures US$34m from EAIF for the construction of 30MW solar plant

BURKINA FASO – Emerging Africa Infrastructure Fund (EAIF) has provided US$34.59 million to Burkina Faso to support the construction of 30MW solar plant which will supply national grid. EAIF, a member of the Private Infrastructure Development Group (PIDG) is lending the project’s developer, Urbasolar SAS, 80% of the capital needed for the construction of the facility which is estimated to have a US$42.22 million development cost. EAIF is the sole lender to the project, its 20th clean energy project, providing US$34.59 million of the estimated Financial close (the transfer of…

Read More

Global Fund partners with Burkina Faso to launch four new health grants

BURKINA FASO – The Government of Burkina Faso, the Global Fund and health partners strengthened their partnership by launching four new grants to accelerate the end of AIDS, tuberculosis and malaria as epidemics and strengthen health systems. The new grants, worth a total of EUR 205.1 million (US$243.4m), represent a 60% increase from the previous three-year allocation cycle and will cover the 2021-2023 implementation period. To date, the Global Fund has invested EUR 768 million (US$911.4m) in Burkina Faso to support the country’s efforts to fight the three diseases and…

Read More

EU approves US$11m to boost interconnection project between Ghana and Burkina Faso

GHANA – The European Union (EU), through the French Development Agency – Agence Francaise Development (AFD), has approved a new €9.7 million euros (US$11.77m) grant for the Ghana Grid Company (GRIDCo) to boost infrastructure works on the interconnection line between Ghana and Burkina Faso. This is expected to increase electricity access in Northern Ghana and exporting capacity to the sub-region, especially Burkina Faso.   The EU grant facility will be used to finance the upgrade of an 18km long 161kV transmission line located between Ahodwo and Anwomaso substation in Ghana’s second…

Read More

EIB provides US$46m debt to photovoltaic park in Burkina Faso, increasing power generation capacity

BURKINA FASO – The European Investment Bank (EIB) has announced EUR 38.5 million (US$46.6m) in debt for a project that will lift by a third the power generation capacity of a 37-MW solar park in Burkina Faso. The photovoltaic (PV) park is being operated by Burkina Faso’s national electric utility Sonabel, the lender said. The utility has committed to invest EUR 70.5 million (US$85.39m) in an expansion scheme that aims to raise the capacity of the plant to 50 MW and thus help it response to the 10% annual increase…

Read More

Endeavour Mining merges with Teranga Gold to make it a top 10 senior gold producer

BURKINA FASO – Endeavour Mining Corporation and Teranga Gold Corporation have entered into a definitive agreement, whereby Endeavour will acquire all of the issued and outstanding securities of Teranga by way of a Plan of Arrangement under the Canada Business Corporations Act. The merger, in which existing Endeavour and Teranga shareholders will own approximately 66% and 34%, respectively, of the combined company on a fully diluted in-the-money basis, will create a new top 10 senior gold producer with average annual production of more than 1.5 Moz with industry-leading low production…

Read More

Burkina Faso inaugurates new US$5.8m solar panel production plant

BURKINA FASO – Burkina Faso has inaugurated a new solar panel production plant in the country’s capital, Ouagadougou. The facility which was commissioned by Burkinabe Prime Minister Christophe Joseph Marie Dabiré was constructed at a cost of 3 billion CFA francs (about US$5.8 million). The solar production plant initiated by El hadj Moussa Koanda has a capacity of producing 200 solar panels a day which translates to an annual production capacity of about 30MW of solar panels Named “Faso Energy”, the plant will promote the acquisition of solar energy equipment…

Read More

French company, Engie to construct two solar power plants in Burkina Faso

BURKINA FASO – French electricity company, Engie has won a contract to construct two solar power plants with a total capacity of 30MWp in Burkina Faso. The two projects which are located in the Burkina Faaso towns of Koudougou and Kaya will be constructed at a cost of US$73.89 million. The town of Koudougou, in the province of Boulkiemdé will have solar power stations of 20-Megawatt peak (MWp) while Kaya, in the province of Sanmatenga will have solar power stations of 10MWp. According to a report by Afrik21 the projects…

Read More

GreenYellow to build solar power plants in Burkina Faso and Tunisia to enhance access to clean and affordable energy

BURKINA FASO/TUNISIA – GreenYellow, an energy company that specializes in photovoltaic solar energy production and energy efficiency has announced plans to build two solar power plants, one in Tunisia and the other in Burkina Faso. The two projects are part of GreenYellow’s aim to power Africa with clean and affordable energy solutions. According to a report by Afrik21 GreenYellow will construct a 1.2MWp (Mega Watt peak) capacity parking lot shading plant in Tunis (capital of Tunisia) for Meddis Distribution, the operator of the Géant and Monoprix hypermarkets in Tunisia. According…

Read More

Burkina Faso to build four solar power plants to enhance access to affordable electricity

BURKINA FASO – The Government of Burkina Faso through State owned power company, Sonabel has announced plans to build four solar projects in the towns of Dori, Diapaga and Gaoua. Sonabel has already floated the tenders for the projects and invited interested bidders to present their proposels for the 4 megawatt-scale PV plants. Two of the solar power projects will be located in a town known as Dori and are expected to generated a total power capacity of 6 MW. The other two will have installed capacities of 2MW and…

Read More