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African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

$1 million: Sustainable Energy Fund for Africa grant to drive electric mobility shift in seven African countries

The SEFA grant will support the creation of an enabling environment for Electric vehicles (EVs), the design of EV business models and guidelines for the public and private sector

The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/2Kfv77Y) of the African Development Bank Group (www.AfDB.org) will provide a $1 million technical assistance grant to the Green Mobility Facility for Africa (GMFA). GMFA provides technical assistance and investment capital to accelerate and expand private sector investments in sustainable transport solutions in seven…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Tunisia: African Development Bank Group Board approves $27 million and €10 million loans for Kairouan solar plant

The project entails the design, construction, and operation of a greenfield solar photovoltaic (PV) plant with a capacity of 100 megawatts under a Build, Own and Operate (BOO) scheme

The Board of Directors of the African Development Bank Group (http://www.AfDB.org) has approved a $27 million and €10 million loan package to co-finance the construction of a 100-megawatt Solar power plant in Kairouan, Tunisia. The Board approval covers $10 million and another €10 million from the Bank, and $17 million…

African Development Bank Group (AfDB)

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    • The African Development Bank's Sustainable Energy Fund for Africa (SEFA) is supporting the Tulu Moye geothermal project in Ethiopia for ten million US dollars
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Source: African Development Bank Group (AfDB) |

Ethiopia: Sustainable Energy Fund Africa provides $10 million grant to support Tulu Moye Geothermal Resource Development

The SEFA grant complements existing facilities to mitigate the high risk associated with drilling activities and help attract commercial debt capital to finance the project

The Board of Directors of the African Development Bank Group (http://www.AfDB.org/) has approved a $10 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) (http://www.AfDB.org/SEFA) to support a geothermal drilling program that will add 50 megawatts of renewable energy to Ethiopia’s power system. The Tulu Moye Geothermal Operations PLC…

African Development Bank Group (AfDB)

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    • Seedlings under sustainable cultivation in Ghana for use in the production of biomass fuel
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Source: African Development Bank Group (AfDB) |

African Development Bank's Sustainable Energy Africa Fund for Africa approves $1 million reimbursable grant to develop bioenergy plants in Ghana and Sierra Leone

The reimbursable grant will strengthen the project’s bankability by supporting technical feasibility studies and regulatory structuring

The Sustainable Energy Fund for Africa (SEFA) (https://bit.ly/37jYAtS) has approved a reimbursable grant of $1 million to NewAfrica Impact Ltd (http://www.NewAfricaImpact.com) to prepare two bioenergy plants in Sierra Leone and Ghana that will each output 5 megawatts of electricity and 11 megawatts of heat. The reimbursable grant will strengthen the project’s…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

Mozambique: African Development Bank approves €125 million loan for hydroelectric power producer to modernize production system

The package comprises up to €100 million from the African Development Bank and up to €25 million from the Africa Growing Together Fund

The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved a loan package not exceeding €125 million to Hidroeléctrica de Cahora Bassa (HCB) in Mozambique to support its Vital Capex program aimed at modernizing the company’s electricity production system. HCB, the largest Independent Power Producer (IPP) in…

African Development Bank Group (AfDB)

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    • Regional Power Trade in Djibouti, Eritrea and Ethiopia Captured Attention at 6th Africa Energy Market Place (1)
    • Regional Power Trade in Djibouti, Eritrea and Ethiopia Captured Attention at 6th Africa Energy Market Place (2)
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Source: African Development Bank Group (AfDB) |

Regional Power Trade in Djibouti, Eritrea and Ethiopia Captured Attention at 6th Africa Energy Market Place

The virtual event was held from 25-27 October 2022 and brought together approximately 111 participants from governments, the private sector and development partners

The African Development Bank Group’s (www.AfDB.org) sixth edition of the Africa Energy Market Place (AEMP), focused on Djibouti, Eritrea and Ethiopia under the theme: Delivering Desert to Power in the Horn of Africa - Enhancing Regional Power Trade. The virtual event was held from 25-27 October 2022 and brought together…

African Development Bank Group (AfDB)
Source: African Development Bank Group (AfDB) |

African Development Bank invests $20 million in private equity fund targeting renewable energy projects in sub-Saharan Africa

The Bank’s support will contribute to an additional 2,162MW of installed renewable power generation capacity

The Board of Directors of the African Development Bank Group (www.AfDB.org) approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period.…

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    • Conference of the Parties (COP27): African and global partners launch multi-billion alliance for green infrastructure
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Source: African Development Bank Group (AfDB) |

Conference of the Parties (COP27): African and global partners launch multi-billion alliance for green infrastructure

The Alliance’s mission is to raise significant capital to accelerate Africa’s just and equitable transition to Net Zero emissions

Alliance to raise up to $500 million of early-stage project preparation and development capital. Goal: boost project bankability and generate up to $10 billion in investment opportunities for the private sector. The African Union, the African Development Bank Group and Africa50—in partnership with several global partners—have launched the Alliance for…

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    • Lamin Barrow, The African Development Bank’s Director General for Nigeria and Yemisi Edun, FCMB’s Managing Director
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Source: African Development Bank Group (AfDB) |

Nigeria: African Development Bank, First City Monument Bank sign agreement for $50 million line of credit to bolster access to finance for small, medium and women-owned businesses

The project is expected to improve access to finance for at least 50 enterprises: 29 in the agribusiness and manufacturing sectors, 9 in renewable energy and 13 in the healthcare industry

The African Development Bank (www.AfDB.org) has signed an agreement with First City Monument Bank (FCMB) for a $50 million line of credit to support access to finance for small and medium-sized and women-empowered enterprises. FCMB will use the line of credit to expand lending activities that will boost the country’s…

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    • Construction of the Manzini Golf Course interchange in Eswatini
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Source: African Development Bank Group (AfDB) |

Eswatini: African Development Bank satisfied with portfolio implementation progress at mid-term of Country Strategy Paper

The Country Strategy Paper cites 11 projects that are to be approved during the remainder of the CSP period, 2022-2024

Meeting on Tuesday, 18 October 2022, the Board of Directors of the African Development Bank Group (https://www.AfDB.org/) approved the mid-term report of the implementation of the Bank’s 2020-2024 Country Strategy Paper (CSP) for Eswatini and the 2022 country portfolio performance.   The review assessed the extent to which the objectives…