The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has committed a US$ 30 million senior secured loan facility to AXIAN Energy, as part of the company's expansion plan to deliver more than 460 Megawatt (MW) of utility-scale renewable energy generation capacity across Africa over the next decade. Established in 2001 initially through its...

The President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, has once again been recognized as one of the 100 personalities transforming Africa by Financial Afrik, a leading business news magazine. The annual ranking, now in its ninth year, highlights influential individuals for their accomplishments over the preceding...

Free had participated in the public tender launched on May 31 by ARTP for the award of 5G licenses. The company's bid of CFA3 billion was rejected for non-compliance. The reserve price was set at CFA19.5 billion. Senegalese telecom company Saga Africa Holdings Limited (Free) has expanded its operating license to include fifth-generation (5G) mobile technology. The operator acquired 90 MHz of...

The International Finance Corporation's (IFC) investment in the second fund of A.P. Moller Capital is awaiting approval since August 31, 2023. The institution, led by Senegalese Makhtar Diop, aims to increase its commitments to sustainable energy and transportation in Africa and Asia. The International Finance Corporation (IFC) confirmed on Monday, December 18, 2023, its equity investment...

Cameroon is getting ready to change its strategy for supplying the domestic fuel market in the coming days. The Secretary-General of the Presidency (SGPR), Ferdinand Ngoh Ngoh, made it clear in a December 14 letter addressed to the Minister of Water and Energy, Gaston Eloundou Essomba, that President Paul Biya "prescribes the liberalization of petroleum product imports." Specifically, according...

Simon-Pierre Boussim (pictured) is no longer Burkina Faso’s mining minister. He has been removed from this position and the government after a reshuffle last December 17, replaced by Yacouba Zabre. This move comes at a time when the country seeks to improve its gold production following a decline of 14% in 2022. The government's response to this poor performance included a change earlier this...

AXIAN Group, a responsible player in the pan-African private sector committed to addressing the social, economic, and climate challenges of the continent, participated in this year's COP. In this inaugural edition where the private sector was invited as a key stakeholder, AXIAN was able to reaffirm its commitment to ecological transition and highlight the crucial role of businesses in the fight...

The Board of Directors of the African Development Bank Group approved a loan of EUR 74.25 million to Cameroon in Abidjan on 14 December 2023 to implement the first phase of the Electricity Sector Recovery Support Programme (PARSEC). The programme will support the Cameroonian government to implement the reforms necessary in the energy sector in 2024 and 2025 so that, in the long term, the country...

Scatec Solar will use this IFC assistance to expand its operations in Chad, where 11% of the population has access to electricity, and in Cameroon, where electricity supply is irregular. The renewable energy producer also plans to extend its solar solutions to several other sub-Saharan countries. The International Finance Corporation (IFC) announced on December 13, 2023, the signing of...

The two institutions have agreed to reinforce their collaboration in raising funds for green projects. The West African Economic and Monetary Union (WAEMU) alone aims to raise over $100 billion by 2030 to achieve its climate objectives. The WAEMU Commission reached a partnership agreement with the West African Development Bank (WADB) to promote green projects and fight climate change on...