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Week commencing 7 May 2018
The Zimbabwean government is planning to sign a $700m deal with an unnamed investor who will develop a coal-bed methane site. The deal comes as President Emmerson Mnangagwa’s administration courts foreign investment to rebuild the country’s stagnant economy. Most of the output from the project will be channelled towards the establishment of a power plant and related products.
The Herald Zimbabwe 4 May
d.light raises funding for growth phase
Five major banks and funds across three continents have financed the global for-profit social enterprise d.light’s next phase of growth to empower more off-grid families. d.light has raised $50m in debt funding from the European Investment Bank (EIB); Swiss asset manager responsAbility Investments; Social Investment Managers & Advisors; SunFunder, a global financier of solar energy projects; and an unnamed investor. The new investment will enable d.light to continue its rapid scale-up globally, launch new appliance and solar home system offerings and provide financed pay-as-you-go solar home system products.
Africa Global Funds 29 April
Private sector financier Proparco has acquired an equity stake worth €5.9m in Enda Tamweel, a local microfinance institution. The investment will enable Enda Tamweel to serve a greater number of microentrepreneurs with micro-credit, particularly women and rural populations. The loan was accompanied by the co-financing of technical assistance.
Liquid Africa 2 May
Global packaging producer Mondi has agreed to buy privately owned industrial bags manufacturer National Company for Paper Products (NPP) for $28.75m to expand deeper into the Middle East. Mondi will be buying all of the firm’s shares on a debt and cash free basis. The acquisition of NPP is meant to complement its network of plants in the Middle East region.
Ahram Online 30 April
Renewable energy firm TellCo Europe Nigeria has announced plans to launch its TellCoSol Off-Grid Solar Power System, a Swiss technology that aims to simplify the provision of solar power in the country. TellCo was established as a vehicle to provide off-grid solar power business solutions to small and medium enterprises in Nigeria, in a move aimed at bridging the country’s energy deficit. The parent company, TellCo Europe Switzerland, had given its commitment to work with its Nigerian arm to accelerate the process and is already arranging funding support for 1,000,000 off-grid solar units for the country’s barbers.
The Guardian Nigeria 1 May