Private Equity |

African Development Bank fund approves grant for solar electricity

ABIDJAN (Capital Markets in Africa) — The African Development Bank’s (www.AfDB.org) Urban and Municipal Development Fund (UMDF) (https://apo-opa.info/43CHYIN) has approved a grant of $485,000 for a solar electricity project in Namibia that will power some 50,000 households in the capital city. The “Informal Settlement Renewable Electrification and Upgrading Program” will directly benefit around 200,000 people in Windhoek, where around 20% of the population does not have electricity. The Urban and Municipal Development Fund helps governments…

USAID Commits $3 million to African Water Facility

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;AGOS (Capital Markets in Africa) – The United States Agency for International Development (USAID) (https://www.GlobalWaters.org/) has committed $3 million to the African Water Facility (AWF) (https://apo-opa.info/3JiWiOu). The funding will support the preparation of water and sanitation investment projects in Africa, through the provision of grants and technical assistance to African countries and regional economic communities. The African Water Facility, an initiative of the African Ministers Council on Water (AMCOW), is hosted by the African Development…

Nigeria’s industry is rising to the twin challenge of decarbonisation and energy security

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Nigeria is a major industrial hub. It is home to energy-intensive manufacturing businesses whose operations, and growth potential, are constrained by the weakness of the country’s electricity supply. To mitigate this, industrial companies have been building their own power generation capabilities, but the result has often been the reliance on expensive and polluting diesel generators. As such, the industrial sector represents one of the country’s largest sources of greenhouse gas emissions. In most places in…

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Learn how to maximize efficiency and unlock the power of clean ammonia in the energy industry with Infocus International’s Mastering Clean Ammonia Live Online Course, starting on 2nd August 2023. Ammonia is a chemical commodity with long-established supply chains from production and distribution through to utilisation. However, its current production creates substantial carbon emissions, a fact at odds with public and policy desires for cleaner economies and industrial processes. In addition to cleaning up the…

Private sector crucial to overcoming Africa’s critical investment gaps

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ABIDJAN (Capital Markets in Africa) — The African Development Bank Group’s governors (www.AfDB.org) will address three strategic challenges when they meet next month for the group’s Annual meetings, the group’s Secretary General Vincent Nhemielle said during a news conference held on April 20. The challenges confronting Africa in the coming year are: financing a low carbon development path that delivers growth and inclusivity and the continent’s climate goals; placing climate adaptation at the heart of…

Convergence Partners closes $10m investment in 42Markets Group

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Mauritius (Capital Markets in Africa) – Convergence Partners has announced the acquisition of a strategic stake in 42Markets Group, an incubator, investor and builder of high-growth specialist businesses in the financial and capital markets sector. The introduction of Convergence Partners as new investors will enable the 42Markets Group to accelerate growth through the buildout of its product set and further geographic expansion. The investment is through its Convergence Partners Digital Infrastructure Fund (CPDIF), a $296m…

Cassava Technologies pledges R4.5bn investment into the South African economy

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JOHANNESBURG (Capital Markets in Africa) – Cassava Technologies (www.CassavaTechnologies.com) has pledged a total of R4.5 billion in investment in South Africa through its business units – Liquid Intelligent Technologies, Africa Data Centres and Distributed Power Africa. The announcement was made during the fifth South Africa Investment Conference (SAIC) in support of SA President Cyril Ramaphosa’s initiative to drive investment into the country. Through this investment, Cassava, which has operations in Africa, the Middle East, Europe,…

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