Government of Mali settles its US$2m capital subscription arrears in Shelter-Afrique

MALI – Shelter-Afrique, a pan-African housing development finance institution, has received US$2 milllion from the government of Mali, being the full settlement of its capital subscription arrears. Mali becomes the fifth shareholder to fully settle Shelter-Afrique’s 2013 and 2017 calls for funds after Zimbabwe, Lesotho, Morocco and Namibia. Mr. Andrew Chimphondah, the Director General of the Shelter-Afrique group, flattered the government of Mali for its demonstration of confidence in the institution and recalled that Mali has often shown the way in ensuring that the company is well capitalized. “This is…

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Radisson opens its first Radisson Collection Hotel in Bamako, Mali

MALI – Radisson Hotel Group has announced the opening of Radisson Collection Hotel Bamako, Mali, the brand’s debut in Africa. Located in the capital and largest city of Mali, the Radisson Collection Hotel, Bamako is 20 minutes from Bamako’s Modibo Keita International Airport and in close proximity to the city’s embassies, corporate headquarters, and government precinct. Bamako is a metropolis with several museums displaying Mali’s rich history and culture, such as the National Museum or the Muso Kunda Museum. “We are delighted to open the doors of our first Radisson…

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French IPP launches 50MW solar photovoltaic power plant in Mali

MALI – Akuo, a French independent power producer (IPP), has commissioned a 50 Mega Watts (MW) solar photovoltaic power plant in Kita, about 180 km west of Bamako, in the Kayes region of Mali, one of the largest photovoltaic installations in West Africa. This project was implemented in partnership with Pash Global, an investor active in the renewable energy sector. The West African Development Bank, the National Bank for Agricultural Development, the Dutch Development Finance Co., and the Emerging Africa Infrastructure Fund provided funding. “We are delighted to have co-invested…

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IFC invests US$10m in Carrières et Chaux du Mali to increase its production

MALI  – The International Finance Corporation (IFC), a member of the World Bank Group, has announced that it will invest nearly €9 million (US$10.68m) in Malian quicklime and agriculture lime producer Carrières et Chaux du Mali (CCM) to help the company increase its production of these products. With the IFC’s support, CCM plans to increase its production capacity of quicklime from 16 500 t/y to 30 000 t/y by 2023, while also developing the capacity to produce 50 000 t/y of agricultural lime. The investment comprises a loan from the…

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AngloGold Ashanti and Barrick Gold conclude sale of their interest in Morila Limited

MALI – AngloGold Ashanti and Barrick Gold have concluded the sale of their interest in Morila Limited, which owns 80% of the Morila gold mine in Mali, to Firefinch (previously named Mali Lithium) for US$28.8 million. The state of Mali continues to hold the remaining 20%. The net proceeds to AngloGold Ashanti’s account will be US$3.6 million taking into consideration shareholder loans and intercompany payables. Firefinch will seek to extend Morila’s life by accessing satellite resources and adapting the mine’s infrastructure. The company will employ all of Morila’s workforce, providing…

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Canadian mining company B2Gold completes expansion works on Mali goldmine

MALI – B2Gold, a Canadian company that owns and operates gold mines in Mali, Namibia and the Philippines, has successfully expanded the mill at the Fekola mine, in Mali. According to a report by Mining Weekly B2Gold was able to successfully expand the Fekola mill to 7.5-million tonnes a year, a few weeks ahead of the scheduled completion date of September 30. B2Gold reported that results of a 5-day performance test conducted in August exceeded design in throughput, gold recovery, grind and availability. The Canadian mining company said that outstanding…

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Mali partners Fonroche Éclairage to install solar powered lights in Mopti region

MALI – Mali has partnered with Fonroche Éclairage, a French company which specializes in public lighting and the production of renewable energy, to install solar powered lights in Mopti region. The partnership which is under a program known as Trezor (Tranquility in rural areas through public solar lighting) will see the French company supply Mali with 200 solar powered street lighting. The street lamps will be distributed along the main roads and in the busy areas of Mopti, a town with a population of more than 100,000 people. “They will…

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Mali commissions new solar power plants to enhance access to clean energy

MALI – Two new photovoltaic solar power plants have been commissioned in Mali’s Capital, Bamako to boost access to reliable, clean and affordable energy. The solar plants, have the capacity to produce 100kWp of solar energy and are expected to have a life span of more than 25 years. One of the plants is located at University of Science, Technology and Techniques of Bamako (USTTB) and at the other is situated in Gabriel Touré Hospital. The commissioning of the projects are great news for particularly at a time like this…

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AngloGold and Barrick Gold to offload stakes in Mali’s Morilla Gold Mine

MALI – Gold mining giants, AngloGold Ashanti and Barrick Gold have made public their plans to sell their effective 80% stake in the Morila Gold Mine in Mali to Australia based Mali Lithium. The decision to offload their stakes at the mineral mine which is popularly known as Morilla the Gorilla comes against a backdrop of political crisis occasioned by a military coup that ended the reign of a democratically elected government. Mali’s President Ibrahim Boubacar Keita resigned and dissolved parliament earlier in August, hours after soldiers held him at…

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Energy+ secures funding from VentureBuilder, USADF, Cordaid to boost electricity penetration in Mali

MALI —Energy+, a Malian-owned and -managed off-grid solar company has secured funding that amounts to more that US$1 million from a consortium of financing partners led by VentureBuilders to boost electricity penetration in Mali. The funding, according to Energy+ includes equity and fully funded enterprise development services (EDS) from VentureBuilder, which led the round. Energy+ further noted that the funding for its energy program was also comprised of a debt from Cordaid Investment Management (Cordaid), and grant financing from the United States African Development Foundation (USADF). Mali is one of…

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