To receive this brief in your email every Monday, please subscribe here.
Week commencing 6 Novemeber 2017
The Nigerian National Petroleum Corporation has formalised an agreement with Dangote Group and infrastructure development firm Black Rhino Group for the construction of the $1.1bn Qua Iboe Power Plant. The project is expected to meet the country’s growing electricity demand. Power produced from the 540MW facility will be sold to Nigeria Bulk Electricity Trading under a long-term power purchase agreement signed with the project developers.
4-Traders 28 October
The government plans to establish a $1bn crop-processing park with Turkish investors to boost the country’s agricultural exports. The Badeggi Crop Processing Zone is expected to start operating in June 2018, with an initial investment of $250m by an unidentified Turkish investor, followed by an additional $800m as the project progresses. The facility will process more than 750,000 million tonnes of crops including rice, maize, yam, cassava, groundnuts and peas. The government plans to set up 15 similar crop zones across the country.
Bloomberg 1 November
The federal government has approved a security contract valued at $195m to an undisclosed Israeli firm to procure security equipment and assist in training Nigerian security personnel tackle crime along the nation’s waterways. Work will begin in December and continue over a three-year period, after which the company will hand responsibility over to Nigerian security personnel.
The Guardian Nigeria 31 October
The Egyptian Electricity Holding Company has signed a $93.8m loan contract with the Japan International Co-orporation Agency to fund the automatic control projects of electricity distribution companies in Alexandria. The repayment period will be 30 years with a 10-year grace period at an interest rate of 0.01%.
Daily News Egypt 31 October
Solar power company Enerray is set to provide engineering, procurement and construction services for a 30MW photovoltaic project near the Garoua International Airport. Once completed, the project will be connected to the national grid. It is expected to provide energy to portions of the country that have no access to electricity and regions that are prone to blackouts.
PV Tech 30 October
Online payments solutions provider Direct Pay Online has received a second investment of $5m from private equity firm Apis Partners, for the implementation of its strategic plan to achieve organic growth across Africa, as well as to strengthen its position through mergers and acquisitions, enable it to integrate the group’s systems and develop its DumaPay application.
Daily News Tanzania 3 November