Kasada Hospitality Fund Embarks On Hotel Projects
The IFC and Proparco have approved a combined loan of US$22 million to the Kasada Hospitality Fund to expand the Crowne Plaza hotel in the Upper Hill neighbourhood of Kenya’s capital city Nairobi. Kasada will use the financing to refurbish,
Octopus Energy To Develop Sierra Leone Wind Farm
The UK's Octopus Energy Generation has signed a partnership agreement with Sherbro Alliance Partners (SAP) to develop a wind farm in Sierra Leone as part of the Sherbro Island City project. The deal was announced at the COP28 climate summit, which
South Africa’s Divercity Gets Funds For Housing Projects
French development agency Proparco and South Africa’s 27four Investment Managers have teamed up to invest Rand 550 million (US$28.9 million) in South Africa’s Divercity Urban Property Group alongside reinvestment from the group’s existing shareholders. Divercity is an investment platform focused
IFC Considers Loan For Ghana Industrial Solar Project
The IFC is mulling a US$100 million loan package for the development and operation of solar power in the Dawa Industrial Zone and Meridian Industrial Park in Ghana’s Greater Accra region. The loan would be for Solar For Industries (SFI), a subsidiary
Mauritania To Develop Nouakchott Coastline
France's Meridiam is managing a major coastline redevelopment project in Nouakchott, Mauritania. The project, which will be developed in phases between 2023 and 2027, was showcased at the COP28 climate conference in Dubai. The Nouakchott Coastline Development Project aims to protect
Grindrod Reveals Maputo Coal Terminal Upgrade Plans
South African logistics firm Grindrod has announced plans to spend Rand 2.5 billion (US$133.1 million) in the next three years on maintaining its asset base, including expanding the capacity of the Matola coal terminal at Mozambique’s Port of Maputo. The
Ghana Commissions First Multi-Purpose Youth Resource Centre
Ghana’s President Nana Addo Dankwa Akufo-Addo has commissioned the newly constructed Eastern Regional Multi-Purpose Youth Resource Centre (MYRC) and sports stadium in Koforidua, located in the country’s Eastern region. The 5,000-seater facility is the first of 10 such facilities being
Ethiopia To Begin Construction Of Haramaya Lake Development
Construction work on the Haramaya lakeshore development project in the Oromia region of eastern Ethiopia is set to start
Burundi Gets Funding For Water Supply Project
The African Development Bank (AfDB) has signed grant agreements totalling US$13.2 million to implement phase one of the water sector and climate resilience building support programme (PASEREC) in Burundi. The five-year programme will see the construction of a 300km water
AfDB Approves US$80 Million Loan For Nigeria Knowledge Zone
The African Development Bank (AfDB) has approved an US$80 million loan for the construction of the Ekiti State Knowledge Zone (EKZ) in Ekiti state, southwestern Nigeria. The EKZ is designed to be a special economic zone that promotes research, digital