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Accessing more affordable, more reliable electricity for tens of millions of people.

Country

Nigeria

Sector

Power

Senior Debt Provided

US$30 million

Raising long-term loan finance can still be difficult in many parts of sub-Saharan Africa, as was the case with the 2014 financing of a 450MW gas fired independent power plant in Nigeria. In addition to providing senior and subordinated loans totalling US$30 million, EAIF played a key role in negotiating the loan structure, which significantly contributed towards the project going forward.

A development by Azura-Edo independent power company, the transaction has a total value of US$865 million. 3.7 million households (22 million people) and numerous businesses will be able to access electricity from the national grid for the first time. They will be able to buy their electricity for substantially less than the non-grid prices. Family budgets will get a boost; businesses can consider expansion and new ventures and education and health facilities will be able to divert resources to more productive use. 1000 people will build the plant and 60 permanent staff operate the facility

Other projects

The Emerging Africa Infrastructure Fund has to date invested in 58 projects in 17 countries.

Satellites put Africa at global top table

Country: Africa / Sector: Telecoms

O3b’s medium orbit (MEO) satellite constellation puts Africa at the forefront of world telecommunicates technology. O3b stands for “the other 3 billion” referring to the three billion people in the world with no broadband connection in 2007.

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Kenya Power and Lighting investment attracts commercial bank support

Country: Kenya / Sector: Power

Regarded as one of the best run utilities in Africa, Kenya Power and Lighting Company is investing US$150 million upgrading, extending and maintaining its electricity transmission and distribution system. The company retails power to all sectors of the Kenyan economy and across the country.

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Ciprel adds another 120MW to its Cote D’Ivoire power plant

Country: Cote D’Ivoire / Sector: Power

The EURO253 million upgrade of the Ciprel power plant in Cote D’Ivoire included a EURO30 million loan from EAIF, signed in early 2014. Expanding Cote D’Ivoire’s generating capacity is a core component in sustaining post-conflict economic recovery and alleviating poverty.

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