Nyamwamba ll hydroelectric power plant secures US$10m financing from EAIF

UGANDA – The Emerging Africa Infrastructure Fund (EAIF), a financing facility of the Private Infrastructure Development Group (PIDG), has confirmed its financing for the Nyamwamba ll hydroelectric power plant in Uganda. The US$10.6 million loan is being provided to its developer Serengeti Energy which will be repaid over 17 years. This financing is a further step towards the financial closure…

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Kibo Energy, Hasta Trust partner to develop long-duration energy storage projects

SOUTH AFRICA – Kibo Energy, the renewable energy-focused development company, has entered into an exclusive agreement with Hasta Trust to jointly develop a portfolio of long-duration energy storage projects in South Africa, with an initial target of c. 36,320 MWh capacity. The projects are held by National Broadband Solutions (NBS) in South Africa, with an initial target of c. 36,320…

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MTN Group appoints Tumi Chamayou as Group Executive for its Enterprise Business Unit

SOUTH AFRICA – MTN Group, a mobile operator, has appointed Tumi Chamayou as Group Executive in the Enterprise Business Unit (GEBU) effective immediately. MTN Group says Chamayou, who has been with the Enterprise Business Unit (EBU) since 2018, when she joined as general manager for large enterprise sales, will help execute the telco’s strategy across its footprint. Her appointment is…

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Telecoms company Huge Group acquires interest in tech company Glovent Solutions

SOUTH AFRICA – Huge Group, a telecommunication company, has concluded an agreement to acquire an interest in Glovent Solutions, technology company specialising in innovative system design and development, for an undisclosed amount. In a statement, the JSE-listed Huge Group says the acquisition will provide the company with an interest in an exciting global growth opportunity operating in fintech and software.…

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Savannah Energy signs agreement with the Government of Chad for renewable energy projects

CHAD – Savannah Energy has announced the signing of an agreement with the Ministry of Petroleum and Energy of the Republic of Chad for the development of up to 500 MW of two renewable energy projects. The project will supply electricity to the Doba Oil Project and the towns of Moundou and Doba in Southern Chad, and the capital city,…

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African Development Bank Group Governors endorse the bank’s vision for the next 10 years

AFRICA – The African Development Bank Group has concluded five days of annual meetings in Accra with a rallying cry from its President Dr. Akinwumi Adesina, to be proud of Africa’s progress.     This year’s annual meeting was held in Ghana which saw the new executive bureau of the Board of Governors being unveiled. It is led by the Governor…

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Mauritania green hydrogen project takes step forward with Chariot pact

MAURITANIA – Mauritanian government has signed a landmark deal with energy transition player Chariot that outlines the next steps for the company’s ambitious 10-gigawatt green hydrogen development known as Project Nour. The framework agreement to map out the next development phases was signed by Mauritania’s Ministry of Petroleum, Mines & Energy, on behalf of the government, and Chariot following the…

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Ghana-based Ayoken closes US$1.4M pre-seed round for its NFT creatives marketplace

GHANA – Ayoken, a non-traditional marketplace for creatives, has raised US$1.4 million in pre-seed capital to help users diversify their revenue streams by selling digital artifacts. The pre-seed round saw participation from Founders Factory Africa, Kon Ventures of Texas, Crypto League of Europe, R9C Ventures of Ghana, and Maximus Ventures. Ayoken intends to use the funds generated to secure exclusive…

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Vodacom’s Nexio partners Poprush Cloud & Consulting to strengthen its business

SOUTH AFRICA – Vodacom subsidiary Nexio, has announced an exclusive strategic partnership with Poprush Cloud & Consulting, a differentiated cloud solutions provider. The partnership will further Nexio’s ambitions of becoming the leading cloud service provider in South Africa. Nexio assists organisations unlock the true value of their cloud investments, this is with a deep understanding of the challenges of the…

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