8 African Business July 2019
Business Intelligence Deals
The AfDB’s financing agreement with Niger is worth $128.8m
Kenya has launched a $47m facility aimed at spurring the private sector to provide viable solar and clean cooking solutions to marginalised communities. The Kenya-Off-Grid Solar Access Project aims to establish viable off-grid solutions for areas that are too far from the national grid to be economical. The project targets 277,000 households and approximately 1.3m people through the construction of 151 mini-grids and the installation of standalone solar systems.
Anadarko approves Mozambique LNG project Anadarko Petroleum has approved the construction of a $20bn gas terminal in Mozambique. The liquefaction and export facility will be the largest LNG project to date in Africa, and will target expanding Asian and European markets. When Anadarko’s sale to Occidental Petroleum is complete, the facility will be one of several Anadarko African assets sold to French major Total.
AfDB to finance Niger development project The African Development Bank has signed a $128.8m financing agreement with Niger to support the Kandadji project for the regeneration of the Niger Valley. The project will take six years until 2025 and involves the completion of a multi-purpose dam to create a development hub in the region of Tilabéry, one of the most vulnerable regions in Niger.
Kenya launches $47m facility to provide solar power
Legislators recommend nationalisation of Kenya Airways
A draft report from a Kenyan parliamentary committee has recommended the nationalisation of the struggling Kenya Airways in order to turn around the loss-making airline. Kenya Airways chairman Michael Joseph previously said that the company will support the decision of the government, which owns 48.9% of the airline. The company restructured $2bn of debt in 2017, but plans to double its fleet over five years to compete with Ethiopian Airlines.