Guinea's National Transitional Council (CNT) has approved a €60 million ($65.03 million) loan from the French Development Agency (AFD). Several local media outlets announced the decision on July 8.
The loan supports the Guinea Forest Region Electricity Access Improvement Project (PAAEGF), which is part of the government's broader National Program for Improved Access to Low-Cost Electricity (PNAAEMC). This initiative aims for universal electricity access by 2030.
The loan has a 20-year repayment period with a seven-year grace period starting from the signing date. Funds will be disbursed in several tranches. The CNT’s general rapporteur noted, "Guinea can choose between a fixed interest rate and a variable interest rate not lower than 0.25% per annum for each installment."
Guinean authorities stated that the project will cover over 121 localities in the Guinea Forest Region. According to the African Development Bank (AfDB), these areas are among the least electrified in the country. The project is expected to benefit approximately 1.2 million residents, including households, women’s associations, health centers, schools, and businesses.
This development comes amid ongoing electricity outages in Guinea, which have plagued the nation since early 2024 due to a production deficit. A malfunction at the Tombo thermal power plant and an unpredictable rainy season have slashed available energy by 75%, prompting the national utility, EDG, to ration electricity for homes and businesses. Ansoumane Kaba, president of the Guinean Employers' Association, reported that 70% of industries are already affected by the crisis.
A July 2022 AfDB report highlighted Guinea's relatively low electricity access rate, standing at 44.1% nationwide and dropping to 19.3% in rural areas.
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipm...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 mil...
• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...
MTN has announced the launch of the MTN Cloud Accelerator, a 12-week hybrid program designed to help African startups scale faster by leveraging MTN’s...
• CMOC increased cobalt production by 13% to 61,073 tonnes in the first half of 2025.• The DRC extended its cobalt export ban, forcing CMOC to stockpile...
Kenya plans to import 1.05 million tonnes of palm oil in 2025/2026, near its highest ever level. Malaysia supplies 90% of Kenya’s palm oil, sharply...
Power Africa closed after 12 years, leaving a gap in Africa’s electrification push. Mission 300 aims to connect 300 million Africans to electricity...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...
Malawi’s Mount Mulanje and Cameroon’s Diy-Gid-Biy added to UNESCO World Heritage List Africa still holds 25% of endangered sites, despite recent...