The Emerging Africa Infrastructure Fund (EAIF) is to lend US$5m to help finance the rehabilitation, repair and development of three ‘brownfield’ palm oil plantations in the Democratic Republic of Congo.
On 23 November, The Guardian, one of the largest selling quality newspapers in the UK, ran a large feature story on the 8.5MW Gigawatt Global solar farm in eastern Rwanda. The solar farm, which was financed and built in just a year, became operational in Spring 2015. It . EAIF provided a senior debt facility of US$10.6 million to the project, which had total development cost of US$23.7 million. The size and period of the loan and EAIF’s ability to rapidly close the financial and legal aspects of the transaction, allowed the company to meet its ambitious construction and completion deadlines.
Nigeria’s President Muhammadu Buhari confirms appointment of EAIF director to lead country’s Finance Ministry
Dr Mahmoud Isa-Dutse, a non-executive director of the Emerging Africa Infrastructure Fund (EAIF), is to lead Nigeria’s Ministry of Finance. He will hold the rank of Permanent Secretary and is one of 18 new permanent secretaries appointed with the approval of President Muhammadu Buhari. Dr Isa-Dutse is relinquishing all of his directorships to focus on his new role.
Published by Clean Energy Pipeline, the 2015 Clean Energy Africa Finance Guide features EAIF projects in a number of its articles. They include the KivuWatt biogas project on Rwanda’s Lake Kivu and the 426 MW power station developed by Azito Energie in Cote De Ivoire.
With the support of a US$15 million loan from the Emerging Africa Infrastructure Fund (EAIF), and other public and private finance organisations, the T2 power station at Takoradi in Ghana has been expanded from 220 megawatts of capacity to 330 megawatts. The plant’s majority owner, Abu Dhabi National Energy Company PJSC (TAQA), announced on 20th October 2015 that the T2 plant expansion has achieved commercial operations and is now supplying electricity to Ghana’s national grid.
David White, the chair of the Emerging Africa Infrastructure Fund (EAIF), was a member of a distinguished panel of global business leaders at the fdi magazine’s Global Forum held in London on 24th September. The Forum hears from world class speakers on the latest trends and key issues in foreign direct investment, including geopolitics and economics, finance, technology, property, human resources, education and skills development.
Emilio Cattaneo has joined the Emerging Africa Infrastructure Fund (EAIF) as its first Executive Director. Mr Cattaneo’s background is in investment banking. He has deep experience of emerging markets and the infrastructure sector, equity and debt products and of managing financial services businesses.
To read about PIDG’s work in renewables energy please click below to PIDG CEO, Philippe Valahu’s recent article in Renewable Energy World.