AfDB signs US$229.5m financing agreement for the Kampala-Jinja Expressway Project

UGANDA – The African Development Bank (AfDB) and the Government of Uganda have  signed a US$229.5 million financing agreement for the first phase of the Kampala-Jinja Expressway Project, which will cut travel time and boost trade along an important artery linking Uganda with its neighbours. The Kampala-Jinja Expressway Public-Private Partnership (PPP) Project-Phase I will improve travel flow, thereby “reducing travel time from more than three hours to under one hour” between Jinja and Kampala along the northern corridor linking Uganda to neighbours Rwanda, Burundi, Democratic Republic of Congo, South Sudan,…

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InfraCo Africa to finance construction of Golomoti solar project in Malawi

MALAWI – Sub -Sahara infrastructure fund InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), and its project partner, JCM Power (JCM), have announced their commitment to finance construction of the 20MWAC Golomoti Solar project with a 5MW/10MWh lithium-ion battery energy storage system (BESS) in Malawi. Golomoti Solar will be the first commercial-scale solar photovoltaic plant in Malawi to include a BESS, and along with its sister project, Salima Solar, Golomoti is among the first commercial-scale solar photovoltaic plants in the country. “As part of our commitment to Malawi’s renewable…

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French government to finance US4125.6m Kenya’s JKIA – Nairobi rail track

KENYA – Construction of a railway line linking Kenya’s Jomo Kenyatta International Airport to the country’s capital city Nairobi are back on track after Kenya secured US$125.6 million loan from the French government. Kenya’s Transport Cabinet Secretary James Macharia told the Business Daily in an interview that a commercial agreement to construct the five-kilometer line have been closed, setting the stage for start of construction from March next year. The loan will also aid the revamp the old 17-kilometre railway track that links to the standard gauge railway (SGR) line…

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Africa Enterprise Challenge Fund unveils results-based financing program for clean energy firms

KENYA – The Africa Enterprise Challenge Fund (AECF) has launched a Results Based Financing Programme aimed at unlocking new markets for clean energy companies in Kenya. The US$ 4 million programme will support commercially viable companies establish new markets and accelerate access to clean energy for 87,000 unserved and underserved households in Kenya. Companies will be awarded funding of up to US$ 500,000 at contracting, with a flexible reallocation system to allow companies that exceed their milestone targets to increase their funding cap to US$1 million. “Off-grid energy sector continues…

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Access LNG B.V secures US$31m loan for construction of LNG storage facility

GHANA – The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG), has lent US$31 million over 10 years to Access LNG B.V., a provider of specialist floating LNG infrastructure, to support the construction of a new LNG storage and regasification facility at Tema port in Ghana. EAIF’s loan is part of the financing for the Floating Regasification Unit (FRU) which will be integrated with a Liquid Natural Gas (LNG) carrier serving as a Floating Storage Unit. Construction of the FRU and the FSU are both at advanced…

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