IsDB allocates $20 million for Togo’s rural electrification

During its 342nd period meeting under the chairmanship of H.E. Dr. Muhammad Al Jasser on Sunday, the Islamic Development Bank has approved $20.15 million for a rural electrification project based on mini solar power plants in Togo.

In addition, the IsDB announced that its Lives and Livelihoods Fund provided $10.85m to improve the level of human development in Togo by delivering sustainable supply of electricity to the rural population of Togo. It benefits 372 schools, 22, 092 families, and 102 health centers.

The Jeddah-based institution is a traditional partner of Togo’s electrification agenda. It has notably already released $49m in the form of loans to support projects in the north of the country, including the extension of the 161 kV high voltage network of the CEB from Dapaong to Mango.

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AVZ Minerals secures Chinese investor for major DRC lithium and tin project

AVZ Minerals has announced this morning the signing of a transaction implementation agreement (TIA) with Suzhou CATH Energy Technologies of China. Under the agreement, CATH will earn a 24% equity interest in the joint-venture set up to develop the Manono Lithium and Tin Project in the Democratic Republic of Congo (DRC). In return, CATH is […]

Nigeria has closed Africa’s biggest Eurobond’s issuance this year, and might raise more

Earlier this week, Nigeria successfully issued three tranches of Eurobonds on the international capital markets, its first such operation since November 2018. While the country had planned to raise between $3bn and $6.2bn, the order book peaked at a whopping $12.2bn, enabling the government to settle for a healthy $4bn from foreign investors. The issuance […]