AfDB extends US$350,000 grant for technical assistance to deepen national capital markets in Cape Verde

CAPE VERDE – The African Development Bank Group (AfDB) has approved US$350,000 in grant funding for technical assistance to consolidate the country’s capital markets strategy and increase the liquidity of its fixed income markets.    The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank. The national stock exchange,…

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ADF extends US$2.5m in grants to support the regulatory environment in SADC and COMESA electricity markets

SOUTHERN AFRICA – The Board of the African Development Bank Group has approved grants of US$2.5 million to advance intra-regional harmonization of electricity regulations and drive cross-border power trading in the COMESA and SADC regional blocs, which cover 28 African countries. The grants, US$1,500,000 for COMESA and US$1,000,000 for SADC, will be sourced from the African Development Fund, the Bank Group’s concessional financing…

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African Development Fund backs Ethiopia-Djibouti electricity trade with US$83.6m in grants

DJIBOUTI – The Board of Directors of the African Development Bank Group (AfDB), has approved two grants worth US$83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a US$69.65 million grant to Ethiopia and the second grant of US$13.93 million to Djibouti, both sourced…

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AfDB approves US$1.4m grant to improve food security in Zambia in the wake of Covid-19

ZAMBIA – The Board of Directors of the African Development Bank has approved a US$1.4 million grant from the Global Agriculture and Food Security Program to reduce malnutrition among the Southern African nation’s most vulnerable households. The Mitigating Impacts of Covid-19 on Household Food Security Project will create about 150 permanent skilled or semi-skilled positions and 40 part-time unskilled jobs…

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AfDB approves US$1m grant for local content and SME growth to boost job creation in Mozambique

MOZAMBIQUE – The African Development Bank Group (AfDB), has approved a US$1 million grant to boost local content and development of Small and Medium-Size Enterprise (SME) initiatives in the southern African nation of Mozambique. The grant, from the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (YEI MDTF), will provide technical and institutional assistance to the Instituto para a Promoção das…

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Solar startup Pawame secures US$2.45m in grant and equity funding for geographic expansion

KENYA – Pawame, a solar energy startup, has raised US$1.7 million in grant capital and an additional US$750,000 in equity funding to finance its geographic expansion. Founded in 2016 by Alexandre Allegue, Majd Chaaya and Nick Sparks, Pawame allows customers to access solar home systems via a pay-as-you-go (PAYG) subscription model, and also helps them to obtain micro-loans via their mobile phones.…

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World Bank awards US$350m grant to Tanzania and Uganda for quality broadband internet services

EAST AFRICA – The World Bank has approved grants totalling US$350 million to the East African countries of Tanzania and Uganda to expand access to high-speed and affordable internet, improve efficiency of digitally enabled public service delivery, and strengthen digital inclusion. Tanzania will get US$150 million as part of its Digital Tanzania Project (DTP), one of three national projects for which…

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Afreximbank, NEXIM to support Niger-Benue river charting with US$750,000 grant

NIGERIA – As part of the Regional Sealink Project, the African Export-Import Bank (Afreximbank) and Nigeria Export-Import Bank (NEXIM) have announced a US$750,000 grant to support the charting of the main channel of the Niger-Benue river in Nigeria. The Regional Sealink Project aims to bridge the gap in maritime transport infrastructure and improve trade connectivity in West Africa. The Regional…

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USAID gives SolarWorks! US$320,000 grant to solarise 92 clinics in Mozambique

MOZAMBIQUE – The United States Agency for International Development (USAID), which leads the Power Africa initiative, is providing SolarWorks! Mozambique a US$320,000 grant to install solar photovoltaic systems in 92 health centres in the Mozambican province of Sofala. In all the clinics selected to benefit from this Power Africa grant, the solar energy provider will install 55.2 kWp of capacity.…

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USTDA gives US$1m grant to fund large-scale battery storage feasibility studies in Mozambique and Senegal

MOZAMBIQUE – US Trade and Development Agency (USTDA) has allocated a grant of just under US$1 million to fund feasibility studies for large-scale battery storage projects in Mozambique and Senegal. The large-scale battery storage projects are co-located with wind power in Senegal, West Africa and Mozambique, in southeastern Africa. A grant of just under US1 million was made by USTDA lin…

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