News
Emerging Africa Infrastructure Fund announces first project in Mali
The private sector Malian power plant operator, Albatros Energie Mali (AEM), is to build a 90MW HFO-fueled power station in the Kayes region of the country, adding 30% to Mali’s effective base load electricity capacity.
EAIF manager wins Credit Deal of the Year award for IHS Nigeria US$800 million bond issue
At an awards ceremony at London’s Savoy Hotel on 1st June, the Emerging Africa Infrastructure Fund (EAIF), shared in the congratulations when its manager, Investec Asset Management, won the Credit Deal of the Year award from Private Equity Africa. The award marks the successful US$800 million bond issue by IHS, one of Nigeria’s leading telecommunications… Read more »
Emerging Africa Infrastructure Fund backs better future for Senegal with €6.6 million loan to expand power station
Tobene ll expansion to raise output by 19MW to 115MW In a boost to the independent power sector in Senegal, the Emerging Africa Infrastructure Fund (EAIF) is increasing its lending to Melec PowerGen (Matelec Group), the owner and operator of the Tobene power station in Senegal. The new B loan of €6.6 million is part… Read more »
Emerging Africa Infrastructure Fund backs US$76 million 40MW solar farm in Mozambique
Project key to development strategy for SMEs in rural Mocuba region The Emerging Africa Infrastructure Fund (EAIF / the Fund), which is part of the Private Infrastructure Development Group, has signed a Participation Agreement with the International Finance Corporation (IFC) to provide a US$16.9 million B Loan, with a +16-year term, to Central Solar de… Read more »
Bond issue supported by EAIF as anchor investor wins prestigious award from The African Banker Magazine
The Emerging Africa Infrastructure Fund (EAIF) is pleased to congratulate Standard Bank on winning The African Banker Magazine’s” Debt Deal of the Year Award”. Standard Bank led the successful US$600 million Helios Towers Africa (HTA) bond issue. HTA is a leading telecommunications infrastructure and power operator in Africa. Following the bond issue, it is set for expansion.
Creating the foundations for progress and prosperity in fragile states
The work of the Emerging Africa Infrastructure Fund By David White, Chairman, Emerging Africa Infrastructure Fund On 1st May, the Emerging Africa Infrastructure Fund (EAIF) announced it had been the anchor investor in a $600 million bond issue by Helios Towers Africa, one of the continent’s leading telecommunications infrastructure businesses. HTA operates c 6,500 communications… Read more »
Emerging Africa Infrastructure Fund anchors US$600 million bond issue by leading telco tower operator Helios Towers Africa
Helios Towers Africa (HTA), a leading telecommunications infrastructure and power operator in Africa, is set for expansion following a successful US$600 million, five-year-term, bond issue, supported by the Emerging Africa Infrastructure Fund (EAIF)
EAIF Non-executive Director appointed to UK’s National Infrastructure Commission
The United Kingdom government has appointed Julia Prescot as a permanent member of the UK’s National Infrastructure Commission (NIC). A non-executive director of the Emerging Africa Infrastructure Fund (EAIF) since 201, she is chief strategy officer at Meridiam Infrastructure, a $3.5 billion fund that she co-founded.
EAIF increases lending to Nigeria fertilizer plant project “of prime strategic importance”
The Emerging Africa Infrastructure Fund (EAIF) has increased its lending to Indorama Eleme Fertilizer and Chemicals Ltd (IEFCL). EAIF has backed the construction of the company’s new US$1.2 billion fertilizer plant at Port Harcourt, Nigeria. It is the world’s largest single stream fertilizer plant. A substantial part of the facility is already producing 600 million… Read more »
Lessons learned in years of financing African infrastructure
To learn more about infrastructure financing on the continent, How we made it in Africa spoke to Emilio Cattaneo, EAIF’s executive director, and Investec’s Nazmeera Moola, who heads the investment part of the EAIF. Read the full article on how we made it in Africa here
Lake Kivu project success covered in Jeune Afrique film
Leading French language publication, Jeune Afrique, ran a film in late January about KivuWatt’s unique facility in Rwanda. It is a story of technical success, business progress and delivering electricity’s benefits to ordinary Rwandans. The Emerging Africa Infrastructure Fund helped to make the project possible. Click here to go to video page on the Jeune… Read more »
Nigeria’s Guardian newspaper carries letter from EAIF Executive Director
EAIF’s Executive Director, Emilio Cattaneo, wrote to The Guardian newspaper in Nigeria about the work of EAIF in Nigeria and across sub-Saharan Africa. His letter was published on 3rd February. Click on the link to read the letter.
Out of the Dark
At the 47th World Economic Forum (WEF) annual meeting that wraps up today in Davos-Klosters, Switzerland, more than 3,000 participants from nearly 100 countries have been addressing topics under the theme “Responsive and Responsible Leadership.” A session on the opening day of the conference earlier this week said responding to Africa’s at once dire and promising energy gap is one way elected officials and company officials can responsibly pursue greater economic growth on the continent.
Nigeria’s digital future strengthened by successful US$800 million IHS bond issue supported by EAIF
The Emerging Africa Infrastructure Fund (EAIF) has invested US$50 million in an US$800m bond issued by the Nigerian telecommunications tower business, IHS. EAIF and the International Finance Corporation were named anchor investors in the bond issue. Launched in early October, the bond was successfully marketed and details of EAIF’s investment can now be made public. EAIF is a member of the Private Infrastructure Development Group (PIDG).
Uganda’s energy minister attends formal opening of his country’s largest solar farm
The Hon. D’Ujanga Simon, Uganda’s Minister of State for Energy, today (12th December) took part in a ceremony to mark the opening of his country’s largest solar farm, at Soroti in Eastern Uganda. The Emerging Africa Infrastructure Fund (EAIF) is one of the principal lenders to Access Soroti Ltd, the private sector company that built and is operating the plant. Electricity production began at the 10MW facility in late November.
EAIF invests US$25 million in new power station development at Freetown, Sierra Leone
• Project is country’s first independent power producer
• Increasing electricity capacity in Freetown by approx 130%
EAIF chair congratulates Investec Asset Management on prestigious awards wins
David White, chairman of the Emerging Africa Infrastructure Fund, has congratulated the Emerging Africa Infrastructure Fund’s manager, Investec Asset Management, on winning awards from two prestigious specialist finance publications.
Telco towers deal “boost to enterprise and business growth in Democratic Republic of Congo” says EAIF chair
The Emerging Africa Infrastructure Fund (EAIF or the Fund) has announced that it has loaned US$20 million to Helios Towers Africa (HTA) to partly finance the purchase of c 950 telecommunications towers in the Democratic Republic of Congo (DRC). EAIF is participating in a syndicated loan providing HTA with a total of US$105 million.
EAIF renewable energy successes feature in America’s top FDI publication
In mid-July 2016, Site Selection International focussed a special issue looking at African energy infrastructure developments on recent renewable energy projects supported by EAIF. Site Selection International is a prestigious American publication favoured by large American and Asian corporations and mobile investors.
EAIF welcomes prestigious award for financing of Nigeria’s Azura-Edo power plant
One of the world’s leading project finance magazines, EMEAFinance, has awarded its 2015 African public/private partnership prize to the financing of the Azura-Edo power plant in Nigeria. The Emerging Africa Infrastructure Fund (EAIF) provided US$30 million in senior and subordinated loans to the project and played a key role in structuring the financing, which was led by FMO, the Dutch development bank. FMO was presented with the award at a ceremony in London on 9th June.
Rwanda celebrates success of Lake Kivu methane to electricity project
PIDG member, Emerging Africa Infrastructure Fund arranged project finance and loaned US$25 million. “Project benefits everyone,” says EAIF Chair
President Paul Kagame of Rwanda yesterday (16 May) joined local people and dignitaries from across the world at a ceremony at Kibuye on Lake Kivu to inaugurate the KivuWatt project, the world’s only facility for extracting naturally occurring methane gas which is then used to generate electricity.
The Emerging Africa Infrastructure Fund appoints Investec Asset Management as fund manager
Following a competitive tender process that brought interest from over 30 companies, from across Europe, Africa and North America, the Emerging Africa Infrastructure Fund Limited (EAIF or the Fund) has appointed Investec Asset Management (IAM) as its fund manager. IAM took over the management of the approximately US$ 670 million Fund on 9th May 2016.
EAIF participates in Lubilia Kawembe Hydro financing in Uganda
The Emerging Africa Infrastructure Fund (EAIF) has participated in the financing of a project to develop and construct a 5.4MW run-of-the-river hydropower project in Uganda.
EAIF stimulates UK parliament event on sustainable energy for Africa
The Emerging Africa Infrastructure Fund (EAIF or the Fund) has 15 new sustainable energy projects in its new business pipeline, said non-executive director, Julia Prescot at a meeting at the UK’s House of Commons on 22nd March. The projects are in nine Sub-Saharan African countries. If they all reach financial close, they will provide a total of 665 MW of electricity.
EAIF is a member of the Private Infrastructure Development Group. The Fund is a public/private partnership supported by the governments of the UK, The Netherlands, Sweden and Switzerland, private sector banks and development finance organisations.
EAIF participates in Uganda solar farm project financing, led by FMO
The Emerging Africa Infrastructure Fund (EAIF) announces today that it has participated in the financing of a project to build an industrial scale solar power station in Uganda, near the rural town of Soroti.
EAIF featured in Metal Bulletin’s Africa Mining supplement
Metal Bulletin, one of the world’s most authoritative mining, metals and commodities publications, features an interview with EAIF’s Roland Janssens in its Africa Mining supplement, published at the beginning of February 2016.
EAIF features in Africa Global Funds Cote d’Ivoire infrastructure special feature
The Emerging Africa Infrastructure Fund is quoted in the February edition of the leading African finance publication, Africa Global Funds (AGF).
EAIF telco towers loan delivers infrastructure advances and benefits in Congo Republic
Businesses, consumers and telecoms service providers in the Republic of the Congo (“the Republic” or “Congo Republic”) will benefit from a loan transaction announced today by the Emerging Africa Infrastructure Fund (“EAIF” or “The Fund). EAIF is a direct investment vehicle of the Private Infrastructure Development Group.
EAIF is US$5 million contributor to syndicated US$49 million facility for DRC firm PHC
The Emerging Africa Infrastructure Fund (EAIF) is to lend US$5m to help finance the rehabilitation, repair and development of three ‘brownfield’ palm oil plantations in the Democratic Republic of Congo.
Leading UK newspaper The Guardian reports on EAIF supported Rwanda solar farm
On 23 November, The Guardian, one of the largest selling quality newspapers in the UK, ran a large feature story on the 8.5MW Gigawatt Global solar farm in eastern Rwanda. The solar farm, which was financed and built in just a year, became operational in Spring 2015. It . EAIF provided a senior debt facility of US$10.6 million to the project, which had total development cost of US$23.7 million. The size and period of the loan and EAIF’s ability to rapidly close the financial and legal aspects of the transaction, allowed the company to meet its ambitious construction and completion deadlines.
Nigeria’s President Muhammadu Buhari confirms appointment of EAIF director to lead country’s Finance Ministry
Dr Mahmoud Isa-Dutse, a non-executive director of the Emerging Africa Infrastructure Fund (EAIF), is to lead Nigeria’s Ministry of Finance. He will hold the rank of Permanent Secretary and is one of 18 new permanent secretaries appointed with the approval of President Muhammadu Buhari. Dr Isa-Dutse is relinquishing all of his directorships to focus on his new role.
Emerging Africa Infrastructure Fund prominent in 2015 edition Clean Energy Africa Finance Guide
Published by Clean Energy Pipeline, the 2015 Clean Energy Africa Finance Guide features EAIF projects in a number of its articles. They include the KivuWatt biogas project on Rwanda’s Lake Kivu and the 426 MW power station developed by Azito Energie in Cote De Ivoire.
Commercial operations begin at EAIF supported power plant expansion in Ghana
With the support of a US$15 million loan from the Emerging Africa Infrastructure Fund (EAIF), and other public and private finance organisations, the T2 power station at Takoradi in Ghana has been expanded from 220 megawatts of capacity to 330 megawatts. The plant’s majority owner, Abu Dhabi National Energy Company PJSC (TAQA), announced on 20th October 2015 that the T2 plant expansion has achieved commercial operations and is now supplying electricity to Ghana’s national grid.
EAIF chairman speaks at fdi Global Forum in London
David White, the chair of the Emerging Africa Infrastructure Fund (EAIF), was a member of a distinguished panel of global business leaders at the fdi magazine’s Global Forum held in London on 24th September. The Forum hears from world class speakers on the latest trends and key issues in foreign direct investment, including geopolitics and economics, finance, technology, property, human resources, education and skills development.
Emilio Cattaneo to lead growth drive at Emerging Africa Infrastructure Fund
Emilio Cattaneo has joined the Emerging Africa Infrastructure Fund (EAIF) as its first Executive Director. Mr Cattaneo’s background is in investment banking. He has deep experience of emerging markets and the infrastructure sector, equity and debt products and of managing financial services businesses.
PIDG chief writes in Renewable Energy World
To read about PIDG’s work in renewables energy please click below to PIDG CEO, Philippe Valahu’s recent article in Renewable Energy World.