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Week commencing 30 April 2018
An unnamed Chinese firm linked to the construction of the $3bn Batoka Gorge Hydroelectric Scheme is in discussions with US conglomerate General Electric (GE) for a possible partnership on the mega project. Situated about 60km downstream of Victoria Falls on the Zambezi River, the project is expected to improve both the power supply of both Zimbabwe and Zambia and also feed into the Southern African power pool. The firms have met casually to get a sense of progress and expectations from the two governments. Formal discussions with government have yet to take place.
The Herald Zimbabwe 26 April
Multinational sustainable development firm Southpole Consulting has secured funding of $300m to construct a 125MW solar power plant at Victoria Falls. The firm has made an application to the Zimbabwean Energy Regulatory Authority for the project, conceived primarily for self-consumption, to supply power to its data centre and a commuter rail electrification project. However, the facility may also provide power regionally.
Daily News Zimbabwe 21 April
DOB Equity, a Dutch family-backed impact investor, has completed its first investment in grain trading company Sarura Commodities. Sarura links smallholder farmers to reliable input and service providers to increase grain quality and farmer productivity. The investment will allow Sarura to strengthen its storage infrastructure, support its sourcing platform and scale up its operations in Rwanda’s niche premium grain market.
Private Equity Wire 24 April
InterContinental Hotels Group (IHG) has signed a deal for two new hotels in Giza, in partnership with Arabia Hotels, a subsidiary of Arabia Holding. The new development aligns with IHG’s strategy for expansion across the Middle East and North Africa. Scheduled to open in 2023, and with rooms directly overlooking the Pyramids, the Holiday Inn Giza Sun Capital and Staybridge Suites Giza Sun Capital will be the first IHG hotels in the area. Both hotels will be part of Sun Capital, a mixed-use project that will include the largest commercial area in Egypt, a luxury commercial mall, an Egyptian cultural themed park and an international university and school.
Egypt Business Directory 23April
The United Nations Industrial Development Organisation (Unido) is set to launch a four-year programme to drive inclusive and sustainable industrial development in Nigeria. The programme, estimated at $50m, is expected to begin in July and has identified intervention plans in nine thematic components: industrial governance; research and statistics; micro, small and medium enterprises development’ special economic zones; renewable energy development; and other sectors including agriculture and mining.
Vanguard 25 April