What's Hot

    Gitex Africa – Tech giants, startups, and SMEs converge in Morocco

    June 2, 2023

    Ecobank launches single market trade hub for African businesses

    June 2, 2023

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Dangote refinery set to be commissioned in two weeks

      May 8, 2023

      An Nisa Taxi a Kenyan women-only taxi service to expand to Saudi Arabia

      May 4, 2023

      AD Ports Group invests Dhs955m to bolster its fleet

      May 1, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Ecobank launches single market trade hub for African businesses

      June 2, 2023

      IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

      May 31, 2023

      AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

      May 30, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Riyadh Valley Company invests in STV’s Total Growth Platform

      Business Finance April 4, 2023
      Recent

      Riyadh Valley Company invests in STV’s Total Growth Platform

      April 4, 2023

      South Africa’s Fin acquires Thuthukani

      March 24, 2023

      Fintech dominates African startup funding

      February 15, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    $1.9bn renewable venture to support growing electricity demands

    February 18, 20152 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Actis leads consortium to supply 700 – 900 MW across the continent by 2018

    UK-listed private equity firm Actis, has established a joint venture which will aim to provide between 700 – 900 megawatts through various wind and solar projects across the African continent by 2018.

    The new venture, Lekela Power, has two primary equity partners; Actis and Mainstream who have a 60%/40%  holding respectively. At the moment, commercial bank interest in the rest of Africa [outside South Africa] is more patchy, so we will work with multilaterals and development finance institutions.

    With an existing track record of cooperation, Mainstream and Actis have already worked together on a project in Chile and are now extending this partnership in order to meet the increasing demand for electricity throughout Africa.

    With rolling blackouts affecting almost all economies within Africa, figures from the African Development Bank suggest it could be costing the continent as much as 4% GDP.

    Speaking on behalf of Actis, head of renewable energy Lucy Heintz said; “At the moment, commercial bank interest in the rest of Africa [outside South Africa] is more patchy, so we will work with multilaterals and development finance institutions. Related article SSA Investments signs MoU with Ugandan trade minister for cotton revival

    Turkish-based SSA Investments has signed and memorandum with Uganda in a bid to revive the country’s cotton business.

    In the past, banks have invested in Egyptian energy before, but HSBC and others have less appetite for Egypt at the moment.”

    Miss Heintz continued to say; “We’ll be looking at east Africa. There is a lot going on in solar in Kenya, some in Uganda, and Ethiopia is an interesting market that we are watching – it has been very active on the state-procurement side in energy. We’ll see whether that market evolves towards more private sector participation.”

    Actis, who already has a presence in Africa through one of its subsidiaries, Globaleq Africa, has operations in five countries including Cameroon and Tanzania.

    At the moment, commercial bank interest in the rest of Africa [outside South Africa] is more patchy, so we will work with multilaterals and development finance institutions.

    Actis Africa African Development Bank Cameroon Chile Commercial Bank Egypt Featured financial institutions Globaleq Africa HSBC joint venture Lakela Power Lucy Heintz Mainstream multilateral Tanzania Uganda UK
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleIDC launches IT executive programs for CxO’s across META
    Next Article Frank Gens, SVP for IDC talks about his top tips for CIO’s in 2015

    Related Posts

    Business

    Gitex Africa – Tech giants, startups, and SMEs converge in Morocco

    June 2, 2023
    Business & Trade

    Ecobank launches single market trade hub for African businesses

    June 2, 2023
    Business Logistics Logistics

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023
    Add A Comment

    Comments are closed.

    LATEST STORIES

    Gitex Africa – Tech giants, startups, and SMEs converge in Morocco

    June 2, 2023

    Ecobank launches single market trade hub for African businesses

    June 2, 2023

    FAB unveils first supply chain finance program in KSA, collaborating with Alfanar

    June 1, 2023

    IATF – Cairo Selected as the venue for the 3rd Intra-African Trade Fair

    May 31, 2023

    AeTrade Group promotes job creation and digital inclusion to boost Intra-African trade

    May 30, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.