Africa 50 and partners grant $90.3mln loan for the Malicounda energy project in Senegal
Friday, 05 March 2021 14:07
Africa 50, an investment vehicle dedicated to infrastructure projects in Africa, and Togolese financier Oragroup announced the disbursement of $90.3 million in the form of a bridge loan to support the Malicounda power plant in Senegal. The terms and conditions of this loan were not disclosed.
The loan facility was structured and arranged by Oragroup. The holding company, which is present in 12 countries in Central and West Africa, mobilized these resources from a group of banks in the WAEMU.
The construction of the Malicounda power plant, which began in October 2019, has been financed out of equity capital since its launch by its main shareholders. These include Africa 50, the national electricity company Senelec and the energy producer Melec PowerGen (MPG). The plant's output will be resold to Senelec to improve energy supply across the country.
Given the energy deficit, investment in this sector will benefit businesses and individuals and generate attractive returns for investors who inject funds in the development of this energy infrastructure.
Chamberline MOKO
Live News
-
CashPlus Draws 81,000 Investors in Casablanca Stock Exchange Debut
18:15
-
IFC’s Kouassi Akon Calls for Shared Financing and Clearer Digital Regulation
17:54
-
Afreximbank Raises $528mln in Second Samurai Bond Issue
17:49
-
Ace Procurement Manager, Nchue Nghochuzeh Cletus, is New Country Head for ofi Cameroon
17:34
-
Kenya Targets 15,000 Jobs From Dual Highway Project
17:23
-
Lesotho Launches Digital Programme to Tackle Youth Unemployment
17:18
-
NBA Africa Picks Ten Startups From Five Countries for Triple-Double Program
15:59
-
Bolt Hits 400 Million Rides in South Africa
15:48
-
Togo’s Tchaoudjo 1 Sets 2035 Goal to Recycle Up to 60% of Local Waste
15:28
-
Kenya: iFunza Connects Teachers and Parents to Track Student Progress
15:02
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing...
IPO attracts 81,466 subscribers, the largest in Morocco in a decade Offer oversubscribed 65 times, raising 750 million dirhams Funds to...
As West and Central African governments push to accelerate their digital transformation, the question of how to finance the necessary infrastructure has...
Bank secures 81.8 billion yen from regular and retail samurai bonds Over 100 Japanese investors participate amid strong demand for short...
The government values the Nairobi–Mau Summit and Nairobi–Maai Mahiu–Naivasha highway projects at $1.54 billion. President William Ruto says...
Niokolo-Koba National Park, designated both a Biosphere Reserve and a UNESCO World Heritage Site, is one of the ecological treasures of Senegal and all of...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...