Monday , June 14 2021

Africa Investment Forum 2018: The African Development Bank has made significant progress through energy projects across Africa.



Africa Investment Forum 2018: The African Development Bank has made significant progress through energy projects across Africa.
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The African Investment Forum (AfricaInvestmentForum.com), which has just been concluded, has provided an unprecedented platform for effective dialogue to bring key stakeholders together successfully and drive investment on the continent. The African Energy Market (AEMP) (https://bit.ly/2PXQEa3) was launched in the forefront of the forum and was followed by a national debate that began at the first AEMP in July 2018 to eliminate the barriers to private sector investment Energy has been underway.

Ethiopia, Ghana, Angola and Cameroon have signed a variety of expressions and interesting correspondence, which have made remarkable achievements in the energy sector.

On November 8, the bank signed a letter of interest for a $ 100 million compound financial facility for an off-grid program in Ethiopia. The project, funded jointly by the bank and the EU, is intended to support the off-grid sector in Ethiopia's National Electricity Plan, which targets 5.7 million households by 2025.

Bank president Akinwumi Adesina praised Ethiopia's efficient use of financial resources. Also in H.E. Sahle-Work Zewde reiterated Ethiopia's efforts to make optimal use of funds for national development.

The bank and Aenergy signed a letter of intent to provide $ 500 million of development finance capital to the Ghana (ECG) electric company. Standard Bank provided commercial bank financing of $ 300 million, totaling $ 800 million. This amount complements Aenergy and its partners' investment. Aenergy is an African-based energy sector investor, developer and operator based in Angola, and has been selected through the bidding process as the preferred bidder for ECG's distribution business.

"Utilities play a pivotal role in economic growth and industry change, and we are very proud to be associated with Aenergy to drive a project that will have a significant impact on Ghana's economy," said Amadou Hott, Vice President, Power, Energy , Vice president of climate change and green growth.

We have also combined output of more than 1000 MW into the Expression of Interest with Aenergy for the development projects in Angola and Cameroon.

"We look forward to working with the bank on this strategically important project and an opportunity to contribute to the growth strategies of Angola and Cameroon," said Ricardo Machado, founder and chief executive officer of Aenergy.

Positive results in subsequent meeting room conversations included continued development and clarity of reforms that quickly address regulatory and policy issues, tariffs, liquidity and trade, and move pipeline projects to completion.

The Africa Investment Forum (AfricaInvestmentForum.com) is the initiative of the African Development Bank, established in partnership with the African Export-Import Bank, the African Banking Corporation, Africa 50, the South African Development Bank, the European Investment Bank, the Islamic Development Bank and the Department of Trade and Development. Bank.

Innovative marketplaces are committed to advancing projects to the banking stage, increasing capital, and accelerating the financial closure of transactions.
Distributed by the APO Group on behalf of the African Development Bank Group (AfDB).

Media contact:

Chawki Chahed

Chief Communications Officer

Email: [email protected]


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