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…

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Infrastructure fund EAIF to buy US$50m of a bond issue by Liquid Telecom

SOUTH AFRICA – The Emerging Africa Infrastructure Fund (EAIF) has committed to buy up to US$50m of a bond issue by Liquid Telecoms, that is being launched in February 22, 2021. The bond aims to raise US$600m, which will be used to refinance existing debt and for corporate purposes. The issuer will be Liquid Telecommunications Financing, a wholly-owned subsidiary of Liquid Telecoms Holdings. EAIF, acting through its agent Ninety One, along with the International Finance Corporation (IFC) and DEG, have committed to place orders to purchase up to an aggregate…

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PIDG, EAIF invest US$15M in the relocation of Port of Dakar to new greenfield site

SENEGAL – Private Infrastructure Development Group (PIDG) has partnered with the Emerging Africa Infrastructure Fund (EAIF) to invest US$15 million in a local currency capital market bond issue by Senegal’s Port Autonome de Dakar (PAD), owner of the Port of Dakar. The issue marks the start of the process of relocating the capital city’s port and its operations to a new greenfield site. The bond raised over US$107 million. The proceeds of the PAD bond will help fund phases one, two and three of the move of the port of…

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Emerging Africa Infrastructure Fund, Proparco back WIOCC expansion

AFRICA – Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF) has loaned $40m over 10 years in a debt package of $100m raised by the West Indian Ocean Cable Company (WIOCC). Proparco, the French development finance institution was the transaction’s mandated lead arranger of the debt finance and is lending $60m of the $100m. The new finance is part of the company’s corporate development programme. It is forecast to involve capital spending of at least $379m across Eastern and Southern Africa. Financial close was achieved on…

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Nigeria’s Genesis Holding secures funding from EAIF to build new gas power plant in Benin

BENIN – Genesis Holdings, a Nigerian based energy company, has secured funding from the Emerging Africa Infrastructure Fund (EAIF) for the construction of a 25MW gas power plant in Benin. EAIF- a Private Infrastructure Development Group (PIDG)- stated in a statement that it will be funding the Gas power project being developed by Genesis Holdings to a tune of US$42.44 million. The EAIF further noted that it has already set aside US$31.83 million for the gas project to be developed at Maria Gleta, near Benin’s Capital of Porto Novo. A…

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EAIF anchors HTA Group’sUS$30m bond in Helios Tower

AFRICA – The Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Group (PIDG), has invested US$30 million in the UK-listed bond, which has a 5.5-year term and a coupon of 7%.  Helios Towers operates over 7,000 telecommunications towers, mainly in Tanzania, the Democratic Republic of Congo, Congo Brazzaville, and Ghana and has recently established a presence in South Africa.    EAIF acted as an anchor investor in a bond issued in London on 8 June 2020 by HTA Group Ltd (HT), a whole owned subsidiary…

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Eranove wraps up financing for its 390 MW power plant in Côte d’Ivoire

CÔTE D’IVOIRE – The Pan-African industrial group Eranove, the International Finance Corporation (IFC), member of the World Bank Group, and the State of Côte d’Ivoire have signed the agreements and all the documentation for the mobilization of funding of US$44.64 million for the construction of a new power plant in Côte d’Ivoire. Financial mobilisation was carried out by the IFC from the African Development Bank (AfDB); the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a subsidiary of the Kreditanstalt für Wiederaufbau (KfW) Group and the German development agency. The Netherlands Development Finance…

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Côte D’Ivoire’s Azito Energie secures US$31m from EAIF to fund power plant expansion

COTE D’IVORE – The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), has lent €28m (about US$30.98 million) to fund the expansion of the Azito Energie gas-fired power station in Côte D’Ivoire. Martijn Proos, Director at EAIF’s fund managers, Investec Asset Management, said:“Azito Energie is a proven business with a management team that has  operated  a successful plant for a number of years.” Proos explained that expanding Côte D’Ivoire’s base load electricity capacity will improve the resilience of the economy, help stimulate business activity…

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EAIF lends US$30m to Kenmare Resources for expansion of mine in Mozambique

MOZAMBIQUE – The Emerging Africa Infrastructure Fund (EAIF) plans to lend US$30 million to Irish mining company, Kenmare Resources Plc, as part of the financing of a US$145 million expansion at the company’s Moma Mine in Mozambique. The loan has a five-year term and is designated to meet the cost of the new infrastructure needed to move heavy equipment and provide electricity at the company’s new location. Kenmare Resources plc is one of EAIF’s longest established commercial relationships. The Fund has supported the business for many years.   “Kenmare Resources is…

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FinDev Canada invests US$7.5m in gender-lens fund to bolster women-owned SMEs

AFRICA – FinDev Canada, a company that invests in gender-lens fund to bolster women-owned SMEs in Africa, has announced an investment of US$7.5 million to Alitheia IDF, a fund supporting women-owned and led businesses, to boost women’s economic empowerment and access to finance in Sub-Saharan Africa. A joint venture between women-owned and led funds Alitheia Capital (AC) in Nigeria and IDF Capital (IDFC) in South Africa, Alitheia IDF Fund (AIF) was seeded with $12.5 million from the African Development Bank. The first fund of its kind in Africa, AIF uses…

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