Mitochondria Energy Company secures funding for feasibility study of stationary fuel cell energy solution

SOUTH AFRICA – Development finance institutions, the Development Bank of Southern Africa (DBSA) and the Industrial Development Corporation (IDC), have committed project development funding to Mitochondria Energy Company, a South African business that was established with the purpose of providing affordable, reliable and sustainable energy services. The funding will be used to complete the bankable feasibility study of a stationary fuel cell energy solution. The project aims to strengthen the energy sector in South Africa by developing a locally-produced fuel cell technology. “The IDC is excited to co-develop this project…

Read More

Ghana COCOBOD launches US$600m syndicated loan facility to boost sector operations

GHANA – The Ghana Cocoa Board (COCOBOD) has officially launched the US$600 million syndicated loan facility which it signed with some Development Finance Institutions (DFI) to finance key components of the organisation’s productivity enhancement programmes. The loan facility aims to implement production, warehousing and processing interventions, adding value to Ghana’s cocoa sector. According to a statement by COCOBOD, the institutions providing the funds include the Japan International Cooperation Agency (JICA), the African Development Bank (AfDB), the Development Bank of South Africa (DBSA) and Cassa Depositi e Prestiti Spa (CDP), as well…

Read More

DBSA provides funds to Mozambican supplier of solar home systems

MOZAMBIQUE – The Development Bank of Southern Africa (DBSA) has committed project funding to Ignite Mozambique, a local company that aims to supply solar home systems in rural Mozambique. The DBSA made the announcement during the Global Off-Grid Solar Forum and Expo 2020, adding that it would also be the lead arranger for the debt funding for Ignite Mozambique’s endeavour to connect 1.8-million people to clean power. Currently, the World Bank estimates 70% of the Mozambique population is without electricity in their homes, which hinders economic prosperity, proper education and…

Read More

Kenya’s BitPesa secures US$15m debt funding as it rebrands

KENYA – Kenyan fintech startup BitPesa announced that it had rebranded to become AZA Group and had secured $15 million in debt financing from South Africa’s the Development Bank of Southern Africa (DBSA). BitPesa, which raised two funding rounds in 2017 and another last year to take its total secured investment to around the US$15 million mark, launched in Kenya in 2013, and has since expanded into a host of other African countries, including Ghana, Morocco, Nigeria, and Uganda. The new funding will see AZA continue its growth further across…

Read More