CIMAF secures investment to boost its production of cement in West Africa

WEST AFRICA – IFC, Proparco, the French Development Institution and Emerging Africa Infrastructure Fund (EAIF) are partnering with Ciments de l’Afrique (CIMAF), a subsidiary of Omnium des Industries et de la Promotion (OIP). The partnership is meant to help the company boost its production of cement in West Africa to meet growing demand for housing and infrastructure in the region. IFC arranged a €161.25 million (US$185.01m) financing package for CIMAF, which includes a loan of €92.5 million (US$106.13m) from IFC’s own account, a parallel loan of €33.75 million (US$38.72m) from…

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Omnia Holdings, Autumn Storm divest their majority stake in Umongo Petroleum

SOUTH AFRICA – Omnia Holdings (Omnia), a diversified chemicals company, and minority shareholder Autumn Storm have negotiated a deal to sell a majority stake in Umongo Petroleum, a supplier of lubricant additives, base oils, process oils and chemicals as well as technical solutions to lubricant blend manufacturers in sub-Saharan Africa. The transaction will see Orkila South Africa (Orkila) – a subsidiary of Azelis S.A. (Azelis), a global service provider in the specialty chemical and food ingredients industry, secure a 90% share in Umongo. Omnia, together with Autumn Storm, will retain…

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Anglo American appoints Duncan Wanblad as CEO to replace Mark Cutifani

SOUTH AFRICA – Mining company Anglo American has chosen a 54-year old South African, Duncan Wanblad, as the successor to outgoing CEO Mark Cutifani, who steps down in April 201 after nine years at the helm. Wanblad was appointed group director for strategy and business development at Anglo in 2016, and also served as CEO of its base metals business from 2013 to 2019 and has spent most of his working career within the Anglo family. He is also a non-executive director of De Beers and Kumba Iron Ore and…

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Eskom secures US$57m loan from AfDB to harness battery storage technology

SOUTH AFRICA – The African Development Bank (AfDB) approved US$57.67 million loan to Eskom, South Africa’s public electricity utility, to harness battery storage technology that will increase electricity generation from reliable and efficient renewable energy sources. The Bank’s financing, a concessional loan, will come from the Clean Technology Fund, a multi-donor trust fund under the Climate Investment Funds. The pioneering Battery Energy Storage Systems Project is being co-financed with the World Bank and the New Development Bank.  The project involves the development of 200MW of battery storage with four hours…

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Kenya to convert thermal plants to LNG in climate-friendly grid push

KENYA – Kenya plans to retire or convert heavy fuel oil-fired power plants to use liquefied natural gas by 2030 as it pursues a cleaner energy path to a 100% climate-friendly grid. State-owned Kenya Electricity Generating Company (KenGen) is conducting a feasibility study on reconfiguring the thermal power plants that currently account for about 7% of the grid load, said Isaac Kiva, renewable energy secretary at the Energy Ministry. The move is part of the East African nation’s target to reach net-zero carbon emissions by 2050. “We won’t be using…

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Kenya to host 25th Africa Energy Forum in June 2023

KENYA – Ahead of the 23rd edition of the Africa Energy Forum (aef), taking place in London from 15-17 November 2021, EnergyNet has confirmed that Nairobi, Kenya, will be host to the 25th edition, which will take place in June 2023. The announcement was agreed at the height of the pandemic lock-down with African Development Bank VP Kevin Kariuki, who chairs the 2021 forum as it arrives in London, the UK in November 2021. Simon Gosling, Managing Director, EnergyNet, said, “Lockdown impacted people across the continent significantly, and it was…

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Omnia Holdings offloads stake in Umongo Petroleum for US$68.5m

SOUTH AFRICA – Diversified chemicals company Omnia Holdings, which said that it had sold a majority stake in Umongo Petroleum for R1 billion (US$68.5 million), is now ’actively pursuing’ acquisitions in mining and agriculture to add to its war chest as well as considering a possible ’special dividend’ to shareholders or a share buyback at the end of the financial year, reports IOL News. Omnia and minority shareholder Autumn Storm Investment had negotiated the deal in a transaction, which will see Orkila South Africa (Orkila), a subsidiary of Azeli, a…

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ITFC signs US$116.4m Murabaha Financing Agreement with SENELEC to support Senegal’s energy sector

SENEGAL – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, approved US$116.4 million Murabaha financing to SENELEC (Senegal National Power Company) to help meet the growing electricity demand, improve the reliability of power supply, reduce losses, and expand access to previously unserved communities. The company’s strategic mandate is to ensure the production, transmission, and distribution of electricity in Senegal and this approval reflects ITFC’s commitment to supporting the availability and affordability of electricity in member countries. The facility is purposed to cover…

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Tlou Energy signs 10MW PPA with Botswana Power Corporation

BOTSWANA – Tlou Energy, an Australia-based company engaged in the exploration and evaluation of Coalbed Methane (CBM) natural gas and development of solar power generation, has signed a 10MW Power Purchase Agreement (PPA) with the Botswana Power Corporation (BPC). Under the terms of the PPA, BPC will purchase up to 10MW of power generated at Tlou’s Lesedi power project, to be sold into the local power grid. The PPA is for an initial five-year term with the 10MW project being the first phase of Tlou’s planned power project expansion. Tony Gilby,…

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Sahara Group to invest US$1b in LPG to boost African energy transition

AFRICA – Energy and infrastructure conglomerate, Sahara Group, plans to invest over US$1 billion to enhance access to liquefied petroleum gas (LPG) in Africa and emerging economies in a bid to boost the energy transition on the continent. Executive director of the Sahara Group, Temitope Shonubi, disclosed this at the African Refiners and Distribution Association (ARDA) conference 2021 in South Africa where he spoke on the role of LPG in Africa’s energy transition. “Sahara, through its subsidiary, WAGL Energy Limited, is already working towards investing US$1 billion to ramp up its…

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