Opportunities for investment in Africa often outweigh the obstacles, according to leading African companies included in the African Development Bank’s first Africa-to-Africa (A2A) Investment Report. The report unearths the realities African companies face when investing in the continent, the emerging trends in A2A investment and the steps African policymakers can take to accelerate intra-African investment.
Africa-to-Africa Investment Report: A first look, finds that more African companies are investing in Africa. These companies have confidence in the continent’s long-term growth potential; they are at the cutting edge of their industries, and are capitalizing on their knowledge of local markets to generate higher returns and impact.
The Board of Directors of the African Development Bank Group has approved an innovative multinational financing program for Distributed Energy Service Companies (DESCOs), which would see 900,000 households in sub-Saharan Africa – about 4.5 million people - gain access to solar power by 2025.
The DESCOs Financing Program promotes securitization financing techniques to address barriers to accessing finance for DESCOs, while supporting their growth and expansion into existing and new markets. The program will also facilitate local currency financing for DESCOs and provide local lenders with risk mitigation instruments to support them.
The Africa Clean Energy Technical Assistance Facility (ACE-TAF) launched its programme in Abidjan, Cote d’Ivoire, on 25-26 June, at the 3rd Round of the Africa Energy Market Place (AEMP). The AEMP is an African Development Bank’s energy sector platform involving country governments, private sector and development partners to review and fast-track priority transactions capable of transforming Africa’s power sector.
Cathy Bassa, the Deputy Head of Mission at the British High Commission in Abidjan, noted in her opening remarks, "The launch of ACE-TAF here at the AEMP signifies DFIDs continued support for investments in affordable solar energy in Africa. We are excited to be here to launch this programme with key energy sector partners from all over Africa."
(International Energy Agency/Newsroom, 25 May 2018)