Africa REN starts construction for 38MW Burkina Faso solar project

BURKINA FASO – West Africa-focused renewable energy independent power producer, Africa REN, has commenced construction for the 38 MW Kodeni Solar power plant in Burkina Faso after reaching financial close. Once completed, the renewable energy facility will be the largest solar power plant in the West African country. The plant is scheduled to be commissioned in August 2022 and Kodeni Solar plant…

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GreenYellow SAS secures US$5m from MIGA for construction of 30MWp solar PV energy facility

BURKINA FASO – Multilateral Investment Guarantee Agency (MIGA), an international financial institution, has issued a guarantee for US$5.19 million to GreenYellow SAS of France, a renewable energy company. The funding will cover GreenYellow’s equity and quasi-equity investments into Société de Production d’Energie Solaire de Ouagadougou SAS (SPES Ouagadougou) for a period of up to 20 years. The SPES Ouagadougou project…

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IFC partners Sodigaz to boost access to cleaner energy solutions

BURKINA FASO – The International Finance Corporation (IFC) and Sodigaz, an energy company, have announced an agreement to boost access to cleaner energy solutions for thousands of households and businesses in Burkina Faso.  Under the agreement, IFC’s Advisory Services team will support Sodigaz to upgrade and expand its liquified petroleum gas (LPG) distribution and service stations, increase solar home kit…

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Burkina Faso secures US$69m from AfDB to finance access to electricity in peri-urban areas

BURKINA FASO – The African Development Bank (AfDB) has approved a new €59.43 million (US$69.63m) loan to Burkina Faso to finance access to electricity for 218,400 households in peri-urban and rural areas. The financing granted by the African Development Bank (AfDB) is intended to accelerate access to electricity in Burkina Faso through two government-led projects. These are the Electrification and…

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Amethis divests its minority stake in Sodigaz APC to AIIM

BURKINA FASO – Amethis, an investment fund manager, has announced the sale of its minority stake in Sodigaz APC to African Infrastructure Investment Managers (AIIM). Sodigaz APC is the leading gas bottle (LPG) distributor in Burkina Faso with a market share exceeding 60% and a unique distribution network of 2,200 gas resellers. Created in 1977 by Amidou Bolly, Sodigaz APC…

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Bboxx, Geocoton Advens Group partner for access to clean energy in Burkina Faso

BURKINA FASO – Bboxx, a Pay as you go solar provider, and Geocoton Advens Group, have entered into a partnership to facilitate access to clean energy in Burkina Faso and other countries. This is the first step in a long-term strategic partnership that will see the two companies expand access to clean energy to other African countries in future. This…

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Vista Group Holdings SA secures US$69m Intra Africa Investment Finance Facility from Afreximbank

WEST AFRICA – African Export-Import Bank (Afreximbank) has closed a €59.2 million (US$69.72m) Intra Africa Investment Finance Facility to finance Vista Group Holdings SA’s acquisition of majority stakes in two banks. The banks are Banque Internationale pour le Commerce et l’Industrie de la Guinée (BICIGUI) and Banque Internationale pour le Commerce, l’Industrie et l’Agriculture du Burkina (BICIAB). The stakes in…

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Coris Bank secures US$23m investment from ITFC for improvement of access to finance SMEs

BURKINA FASO – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, continues its ongoing commitment to strengthen private sector development in Burkina Faso through its latest Murabaha financing agreement with Coris Bank International (CBI). The €20 million (US$23.65m) agreement is part of the West Africa SMEs Program, a flagship program of ITFC…

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GreenYellow secures US$25m loan from FMO for development of solar plant

BURKINA FASO – French renewable energy developer GreenYellow, a unit of the Casino Group, has secured a €21 million (US$25.57m) loan by Dutch development bank FMO for its solar power plant in Nagréongo, Burkina Faso. The money will be given in three tranches of €7.9 million (US$9.62m), €7 million (US$8.52m), and €6.1 million (US$7.43m), by FMO’s Fund for Access to…

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IsDB, ICD partner with MEBF to address issues faced by women entrepreneurs

BURKINA FASO – The Islamic Development Bank (IsDB) Group and its private sector development arm, the Islamic Corporation for the Development of the Private Sector (ICD), have joined hands with the government of Burkina Faso, through Maison de l’Entreprise du Burkina Faso (MEBF), to implement the Business Resilience Assistance for Value-adding Enterprises (BRAVE Women) Project in the country. This BRAVE…

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