(Adapted from thinkgeoenergy, 2017)
IFC is providing $20 million in equity funding to the Africa Renewable Energy Fund (AREF) managed by Berkeley Energy, replacing an investor that stepped out. AREF is invested in the Corbetti geothermal project in Ethiopia.
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(IRENA Press Release, November 2017)
The International Renewable Energy Agency (IRENA), in partnership with the Abu Dhabi Fund for Development (ADFD), is inviting applications for renewable energy projects in developing countries. Within the framework of the ADFD-funded US$350 million (AED1.285 billion) IRENA/ADFD Project Facility, the current funding round of US$50 million in concessional loans marks the sixth of seven annual cycles.
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(bloomberg/Ana Monteiro & Ntando Thukwana, 18 April 2018)
East African economy has held position for most of past decade
Ghana GDP surged 8.5% in 2017 as Sankofa field started output
Ghana has lost its mantle as the African economy likely to grow the quickest this year to Ethiopia, which has held the position for most of the past decade, International Monetary Fund data showed. West Africa’s second-biggest economy should expand 6.3 percent this year, the IMF said in its World Economic Outlook released Tuesday. That’s lower than the 8.9 percent forecast in October, and is also less than the raised 7.4 percent estimate for Ivory Coast and the prediction for Ethiopia, which was held at 8.5 percent.
Recent advances in technology are creating scalability for sub-Saharan African investments, with technology-enabled businesses well-positioned for growth. Acting as a catalyst and enabler to business, investors are finding that technology-enabled solutions can alter the trajectory of consumer access and affordability for many companies in sub-Saharan Africa including Energy, logistics, financial services, education and government records.
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