Nigeria Sovereign Investment Authority allocates US$24m for renewable energy

NIGERIA – The Nigeria Sovereign Investment Authority (NSIA), the institution that manages Nigeria’s sovereign wealth fund, has announced that it is allocating US$24 million in funding for renewable energy. This investment is aimed at the deployment of more than 200,000 solar home systems in Nigeria. This is another step forward in renewable energy investment in Nigeria. The Nigeria Sovereign Investment…

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Ecobank partners five insurance companies to support its SMEs customers

TOGO – Ecobank Group’s Commercial Banking business has partnered with five insurance companies to offer a range of Bancassurance solutions to its Small and Medium-sized Enterprise (SME) customers across markets where Ecobank operates. OLD MUTUAL, ALLIANZ, SUNU, SANLAM & NSIA will offer Commercial Asset Insurance, Engineering insurance, Marine & Cargo insurance, Key Man insurance, Motor fleet Business Travel insurance, in…

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NSIA, OCP to develop US$1.4bn Ammonia and Phosphate plant

NIGERIA – The Nigeria Sovereign Investment Authority (NSIA) has signed an agreement with Office Chérifien des Phosphates (OCP) of Morocco, for the development of a US$1.4 billion plant to produce Ammonia and Diammonium Phosphate, under its Gas Industrialization Strategy, reports Vanguard. According to the NSIA, the Multipurpose Industrial Platform Project is a backward integration initiative which builds on the successes…

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Energy company Konexa to deploy US$100m renewable energy in Nigeria

NIGERIA – British Energy company Konexa has signed an agreement with Kano State Electricity Distribution Company (Kedco) and the Nigeria Sovereign Investment Authority (NSIA) for the deployment of US$100 million renewable energy in Kano State in northern Nigeria. Kano State’s electricity capacity is expected to increase by 2022. This is the promise made by Konexa, a renewable energy producer based…

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