Kenyan KCB Group enters DRC with the acquisition of TMB Bank

DRC – KCB Group, the Kenyan financial services holding company, is set to acquire a majority stake in DRC-based TMB Bank, marking its entry into the country with a population of over 93 million people. The transaction is expected to close by the end of the third quarter of 2022, subject to regulatory, shareholders, and other approvals. KCB will acquire…

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BGFA launches US$15 funding round for off-grid renewable energy solutions in DRC

DRC – The Beyond the Grid Fund for Africa (BGFA) is launching a €15 million (US$15.99m) funding round to support electrification through off-grid renewable energy solutions in the Democratic Republic of Congo (DRC). Off-grid solar energy providers operating in the Democratic Republic of Congo (DRC) have the opportunity to receive funding to accelerate their activities.  Managed by the Nordic Environment…

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AMEA Power agrees with SNEL for 100 MWp solar project in DRC

DRC – The United Arabs Emirates (UAE) has announced interest in investing in the Democratic Republic of Congo (DRC)’s solar energy sector. The countries, through two companies, entered into a Memorandum of Understanding (MoU) to pave way for the production of 30 megawatts in DRC. The MoU was signed between DRC’s state electricity company Société Nationale d’Électricité (SNEL) and AMEA…

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Democratic Republic of the Congo becomes 7th partner of the East African Community

EAST AFRICA – The Democratic Republic of the Congo (DRC) has joined the East African Community (EAC) becoming its 7th Partner State. Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda are the other members. The DRC is the largest and most populous country to join the EAC, bringing a market of 90 million people and immediately upgrading the region’s GDP…

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Internet service provider Paratus Group adds DRC to its terrestrial network

DRC – Paratus Group, a pan-African internet service provider, has confirmed its expansion into the Democratic Republic of Congo (DRC). By adding DRC to its terrestrial network, Paratus Group now boasts a unique and contiguous footprint in Africa. Paratus has offices in seven SADC countries; four data centres; five satellite teleports with 6 000 customer sites; the Google Equiano Cable…

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IFC launches work on solar mini-grid program to scale up clean electricity in the DRC

DRC – International Finance Corporation (IFC) has begun work with the Government of the Democratic Republic of Congo (DRC) to bring clean, solar energy to over 1.5 million homes, businesses, schools, and clinics in the country under the World Bank Group’s Scaling Mini-Grid (SMG) program. The SMG program was designed to help the DRC and other emerging countries establish public-private…

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NuRAN Wireless secures US$9m for financing of projects in DRC and Cameroon

DRC – NuRAN Wireless Inc., a leading rural telecommunications company, has announced the receipt of a second mandate letter for a senior secured credit facility with a development finance institution (DFI) that provides up to US$9 million in total funding. The purpose of the Loan Facility is to finance a portion of NuRAN’s planned US$30 million of expenditures linked to…

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DRC clears US$1.7m capital arrears in Shelter Afrique, increasing its shareholding to 2.46%

DRC – The government of the Democratic Republic of Congo (DRC) has cleared its capital arrears in the pan-African housing development, Shelter Afrique, after paying the outstanding amount of US$1.7 million. The move now takes DRC’s shareholding in the Company to 2.46%, up from 1.68% held previously. In total, DRC paid US$4.1 million capital contribution last year, significantly increasing its…

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ARE & ACERD sign MoU to spur renewable energy market development in DRC

DRC- Congolese Association for Renewable and Decentralised Energy (ACERD) and the Alliance for Rural Electrification (ARE) have signed a  Memorandum of Understanding (MoU) setting out the shared goals of the two organizations to address the existing obstacles which hinder the optimal use of the various renewable energies for electrification and the potential for energy efficiency in the Democratic Republic of…

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Telecoms company NuRAN Wireless secures US$15m loan facility for its project expenditures

DRC – NuRAN Wireless Inc., a specialist rural telecommunications company, has announced that it has secured US$15 million in senior secured credit facility with a development finance institution (DFI). The purpose of the Loan Facility is to finance a portion of NuRAN’s planned US$30 million of expenditures linked to the installation of network infrastructure roll-out promoted by NuRAN in 120…

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