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
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Mauritania’s Zeine Zeidane appointed director of IMF Africa Department
18:47
-
Cameroon higher education group plans microfinance bank for student startups
18:34
-
Internet Freedom in Africa Remains Uneven in 2026 Despite Rising Access
18:30
-
Cameroon Delivers Tractors to Agropoles to Scale Production and Agro-Processing
18:28
-
Togo receives CFA1.6B Chinese rice donation to support food security
15:01
-
Africa’s $35bn sports tourism opportunity: growth accelerates alongside traditional travel sectors
14:37
-
Uganda: UN Women, Equity Bank launch programme for women entrepreneurs in underserved communities
14:33
-
Chevron Approves Investment in Equatorial Guinea’s Aseng Gas Project
13:36
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Mauritanian Zeine Zeidane has been appointed director of the IMF’s Africa Department. A former prime minister and an IMF official for more than a decade,...
Africa’s sports economy could expand from $12bn to $30-35bn over the next decade Tourism contributes up to 8% of GDP across the continent,...
A two-year partnership will support women entrepreneurs with finance and training The initiative targets underserved and refugee-hosting...
Chevron has taken a final investment decision on the Aseng Gas Monetisation project. The project targets 550 billion cubic feet of gas with an...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...