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
-
EgyptAir Takes Delivery of Its First A350-900 for Long-Haul Expansion
20:39
-
Togo signs 5-year IAEA Agreement to expand peaceful use of nuclear technologies
20:33
-
Algeria Launches National Framework to Govern Public Data
20:27
-
Cameroon issues inaugural 15-year Treasury bond in CEMAC zone
20:25
-
Cameroon tightens gold controls, revokes non-compliant artisanal mining permits
20:10
-
Algeria secures over $3 billion AfDB financing to extend national rail network
19:57
-
Uganda, Tanzania discuss cross-border rail link to diversify logistics routes
19:38
-
UNESCO backs efforts to safeguard Africa’s oral and written heritage through digitization
19:32
-
Uptooyoo Builds Marketplace for Freelancers and Trades in South Africa
19:17
-
Cameroon launches consultations for tailored special economic zones in five regions
18:45
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...
The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...
MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...
Aircraft to modernize long-haul fleet, open US and Asia routes A350 cuts fuel use 25%, supports Egypt’s tourism growth strategy EgyptAir received an...
Financing covers rail extension to El Meniaa and Ghardaïa over about 495 km Project is first phase of trans-Saharan rail corridor linking Algiers to...
Extension of Tanzania’s SGR toward Uganda discussed during Museveni visit Project could link Lake Victoria ferries to rail freight corridors Move...
Project backed by UNESCO secures and digitizes rare West African archives More than 2,100 manuscripts digitized and 4,000 documents...
Porlahla Festival ends third edition in Kouto, promoting Senufo culture Event draws regional and international participants, boosting cultural...
Essaouira is a coastal city in Morocco, on the Atlantic Ocean, in the Marrakech–Safi region, about two and a half hours by road from Marrakech. It stands...