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
-
Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
11:52
-
Kenya’s Economy Expands 4.9% in Q3 on Construction, Services
10:18
-
Rio Tinto, Glencore Hold Early Talks on Potential Mining Mega-Deal
10:17
-
Zambia Secures Financing for 32-MWp Ilute Solar Power Project
08:09
-
Orabank to Close Four Branches in Togo From February 2026
20:13
-
Cameroon Brings Informal Property Brokers Under VAT Rules
16:05
-
Novarea Textile, Togo Apparels Source Join Adétikopé Industrial Platform
16:01
-
Strengthening the Economic Bridge: Outgoing U.S. Ambassador Shares Vision for Future Cameroon-U.S. Investment
12:30
-
Strengthening the Cotton Value Chain: Crédit du Sahel Formalize Strategic Banking Alliance
11:50
-
Cameroon Scores Mid-Table in World Bank’s Business Ready 2025 Report
11:46
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...
Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational investments—especially reliable electricity, digital...
Kenya’s economy grew 4.9% year on year in Q3 2025, up from 4.2% a year earlier. Construction, mining, hospitality and real estate drove growth...
Rio Tinto and Glencore confirmed early-stage discussions on a potential transaction with no firm offer. Rio Tinto must declare its intention to bid, or...
Rwanda ranks first in Africa in the World Bank’s Business Ready 2025 with a score of 67.94. Benin and Senegal enter Africa’s Top 10 for the first time...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...