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Week commencing 17 September
Volkswagen (VW) is considering a component assembly plant in Ethiopia in addition to its two recently announced assembly plants in Ghana and Nigeria. VW has start-up operations in Kenya, Rwanda, Nigeria and Ghana with total production capacity of 5,000 units.
The New Times 11 September
The Multilateral Investment Guarantee Agency, a World Bank subsidiary, has issued a guarantee of $105.4m in support of the construction of the first wind farm in Senegal. The Parc Eolien Taiba N’diaye SA wind farm will consist of of 46 turbines, providing 158.7MW to the national grid in about two years’ time. Only 57% of the population has access to electricity.
Africa Global Funds 12 September
Harith General Partners is investing in Malawi’s biggest fibre network provider, Open Connect, taking a majority stake. The deal is part of Harith’s $1bn infrastructure investment on the continent. Harith has put almost $800m to work in African infrastructure and its other fibre investments in Africa, including a 30% stake in Nigeria’s Dark Fibre Africa.
Liquid Africa 10 September
Portuguese clean energy company RVE. SOL has raised $2,1m through international investors to provide solar electricity in Busia County. The expansion will be chanelled towards electrification and providing clean water for up to 50,000 people. The company is in talks with several other counties along the border for similar projects.
Business Daily 12 September
Toyota Tsusho in Kenya intends to bid for a 140MW geothermal power plant that the Kenya Electricity Generating Company plans to develop through a public-private partnership. KenGen has yet to invite bids for the project. Toyota Tsusho and Hyundai Engineering constructed KenGen’s largest geothermal project, which has been injecting 280MW of power into the grid since 2015.
Liquid Africa 13 September
The African Development Bank has approved a $15m investment in Verod Capital Growth Fund III. The fund aims to provide a vehicle to grow SMEs in West African countries including Nigeria, Ghana, Liberia, Sierra Leone and the Gambia.
Africa Global Funds 11 September