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Week commencing 26 November
Morocco and Portugal will invite bids to build an undersea electricity cable linking the two countries once technical and financial feasibility studies are completed. The project aims to be operational before 2030 and is estimated to cost €600-€700m.
Reuters 19 November
US-based private capital firm the Overseas Private Investment Corporation (Opic) has injected $5m into Nairobi-based commercial solar installation ventures company CrossBoundary Energy. The funding will enable CrossBoundary Energy to implement solar power at six business sites in Kenya, Rwanda and Ghana, producing a total of 5.75MW.
Liquid Africa 22 November
The African Development Bank (AfDB) is lending Kenya an extra $267.7m to complete construction of the country’s biggest dam. The first phase is scheduled to finish in December 2022 and supply water to the semi-arid county and surrounding regions. It will also be used for hydropower and irrigation.
Bloomberg 21 November
Kenyan-based investment firm Centum has signed a $3.2m deal with Dubai water management solutions firm Metito for a seawater desalination plant at its proposed $3.2m housing project in Kilifi county. The proposed facility, one of the biggest private undertakings in the region, will have a daily water production capacity of 3,000m³.
Business Daily 22 November
China National Complete Engineering Corporation has agreed, in a memorandum of understanding (MoU), to issue loans worth $1.5bn to the Ghana Cocoa Board to develop the cocoa sector in Ghana, the world’s second-biggest producer. The programme aims to improve farmers’ yields and encourage the local processing of beans.
Bloomberg 22 November