Mozambique: Ncondezi Energy secures $3mln from African Finance Corporation to develop its Ncondezi project
Friday, 02 September 2016 19:06
Ncondezi Energy secured a $3 million from the African Finance Corporation (AFC) to develop its Ncondezi coal-powered power station in the Tete province, in Mozambique.
The loan will be used to pay charges which are not included in the joint development agreement signed between Ncondezi Energy and Shanghai Electric Power (SEP). Under the agreement, SEP may acquire up to 60% of interests in the firm, against $25.5 million to finance to Ncondezi project.
The loan is to be reimbursed in two tranches, the first of $1 million in 2017 and the other, $2 million, 24 months later.
The Ncondezi coal-powered station can produce 300 MW of power.
Louis-Nino Kansoun
Live News
-
Oscars 2026: Two African Women Compete as the Continent Eyes a Historic Win
20:51
-
Algeria Launches Commission to Drive University 4.0 Transition
20:41
-
Ethio Telecom Seeks Italian Funding for Digital Infrastructure Expansion
20:39
-
Portuguese BA Glass Targets Controlling Stake in Tunisian Glassmaker Sotuver
20:34
-
CCI-Togo Previews Program to Train Women as Truck and Crane Operators
20:29
-
Equatorial Guinea’s Bange Bank Expands in Cameroon with Six New Branches
20:27
-
Canyon Keeps Minim Martap Timeline After Investors Block Afriland, Eagle Eye Funding
20:23
-
Cameroon Plans CFA40 Billion Capital Increase for State SME Bank
19:41
-
Transparency International Defends SNH Partnership Despite Glencore Scandal Fallout
19:29
-
Nigerian Startup Fixr Technologies Launches Usefixr Maintenance Marketplace
19:18
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presump...
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
Ethio Telecomis exploring financing support from Italy’s development bank Cassa Depositi e Prestiti (CDP) for digital infrastructure projects. The...
Portuguese glass-packaging group BA Glass seeks approval to acquire a 41.28% controlling stake in Tunisia’s Sotuver. The transaction values the block...
Proparco commits $15 millionto the African Transition Acceleration Fund (ATAF), a vehicle targeting early-stage climate infrastructure in...
Zambia aims to strengthen its digital policies by studying Kenya’s regulatory and technological frameworks. Officials discussed cybersecurity...
Actress Wunmi Mosakuand director Kaouther Ben Haniarepresent Africa among contenders at the 2026 Oscars. Mosaku received a nomination for Best...
With much of Africa’s cultural heritage still held outside the continent and restitutions in Europe moving slowly, a South African video game imagines...