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Country

Nigeria

Sector

Infrastructure Components and Equipment

Senior Debt Provided

US$20 million

African Foundries have developed a steel mill in Nigeria that recycles scrap metal, turning it into “rebars”. These are used to reinforce concrete, which is used for a multitude of purposes when developing infrastructure, including dams, tunnels, ports and harbours, roads, airports, railways and large buildings like power stations and water treatment facilities.

The plant, which has the potential to employ 500 people, helps rid Nigeria of vast amounts of scrap metal that have accumulated over many decades. Producing c225,000 tonnes of steel annually, the output cuts Nigeria’s dependency on imports. The electricity to power the plant comes from a power station fuelled by natural gas that would be otherwise flared-off and wasted. EAIF provided a US$20 million loan to the project, which had a total transaction size of US$130 million.

Other projects

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

Making post-conflict development possible

Country: Cote D’Ivoire / Sector: Power

Traditional bank lenders can be risk averse when considering developments in post-conflict states. This was the case in Cote D’Ivoire when finance was sought to expand Azito Energie’s power station.

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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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Communications towers acquisition in the DRC

Country: Democratic Republic of Congo / Sector: Telecoms

In 2013, EAIF supported Helios Towers Africa’s (HTA) acquisition of 700 telecommunications towers in the Democratic Republic of Congo. The majority of the towers have been reactivated, refurbished and leased out to a mobile communications provider.

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