YMMY Finance Holding set to invest US$3.3bn in Niger for several projects

NIGER – Morocco’s YMMY Finance Holding announced that it will invest US$3.3 billion (MAD 29.4 billion) in projects in Niger’s capital city of Niamey, reports Morocco World News. The announcement follows the signing of a Memorandum of Understanding (MoU) between the Moroccan financier and the city of Niamey. “There are six projects that will be carried out over 8 years and the majority fall under a Public-Private-Partnership (PPP) contract at a cost of US$3.3 billion,” said Chairman of the YMMY Finance Holding group, Ahmed Lotfi. A PPP is an investment…

Read More

Niger to develop 50 megawatts of grid-connected solar power in partnership with IFC

NIGER – The International Finance Corporation (IFC), an international financial institution, and the Government of Niger have announced a partnership under the World Bank Group’s Scaling Solar program. IFC and Niger will develop up to 50 megawatts of grid-connected solar power, equivalent to roughly 20 percent of the country’s current installed capacity. The project will help power thousands of homes, schools, businesses, and hospitals in Niger, where most lack access to electricity, and support the government’s efforts to generate 30 percent of its power through sustainable sources by 2035. “Niger…

Read More