• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    Ghana & Nigeria to Improve Cross-Border Trade
    Tanzania Seeks to Reach New Record Cashew Production by 2025
    Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services
    African Development Bank Group President Calls for More Partnerships to Build Africa’s Social Infrastructure
    Ghana, Key Stakeholders: Sign a Renewable Energy Agreement Worth US$69.88 Million to Improve Access and Socio-Economic Development
    Africa Development Bank Approves $1.5 Billion Facility to Counter Food Crisis on the Continent
    Sh32 Billion of Phase 2 of Second Container Terminal of the Kenya Ports Authority at the Port of Mombasa is finished off and…commissioning in June of 2022
    Africa Green Growth Readiness Assessment: Reveals Africa Growing Political Commitment to Green Growth, Report

    $20 Million Investment pact fulfilled by the African Development Bank (AfDB) from the Sustainable Energy Fund for Africa (SEFA) for the Novel Coronavirus Pandemic OffGrid Recovery Platform

    Posted On 20 Aug 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: African Development Bank

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The African Development Bank (AfDB) begets monetary approvals for a $20 million concessional enterprise from the Sustainable Energy Fund for Africa (SEFA) for the COVID-19 Off-Grid Recovery Platform (CRP). According to a press release, the concessional loan, consensus were approved with Fund Managers – Lion’s Head Global
    Partners, Triple Jump, and Social Investment Managers and Advisors, observing authorization by the Board of Directors of the AfDB in December 2020 for a $20 million concessional investment from the Sustainable Energy Fund for Africa (SEFA), by way solidify the platform.

    The five-year, $50 million combined finance drive, is formulated to give assistance and recuperation capital to energy access businesses, supporting them through and beyond the pandemic.

    “Lion’s Head is immensely grateful for the support from the AfDB, in specific the SEFA team and funders, for developing this innovative and catalytic co-investment instrument. African markets have been disproportionately affected by COVID-19 due to lack of infrastructure, macro vulnerabilities especially in terms of currency and credit shocks, and increasing global protectionism,” asserted Harry Guinness, Managing
    Director of the Off-Grid Energy Access Fund, part of the wider Facility for Energy Inclusion. “The COVID-19 Off-Grid Recovery Platform arrives at a crucial moment for early-stage energy access companies affected by COVID-19 and enables the Energy Entrepreneurs Growth Fund to proceed to publish flexible capital into the sector at a time when risk capital is increasingly scarce”, noted Jan-Henrik Kuhlmann, Head of Sustainable Energy at Triple Jump.

    The forum funds companies commercializing solar home systems, green mini-grids, clean cooking, and other renewable energy access solutions in mitigating the consequences of the pandemic and guaranteeing a strong commercial comeback of the industry. Asad Mahmood, CEO and Managing Partner of Social Investment
    Managers and Advisors, remarked: “Many small businesses have suffered seriously during the COVID-19 crisis. The African Development Bank’s relief efforts are market driven and flexible and will help to leverage existing funds to ultimately assist energy distribution business in Africa.”

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Ghana Set to Allocate Funds to Support Research and Scientific Activities

    Next Story

    Payment policy to support Commerce amongst member African Nations in the African Continental Free Trade Area are underway by the Pan African Payment and Settlement System

    8 Comments

    1. Melissa August 20, 2021 at 2:49 am Reply

      This $20 Million investment pact by the African Development Bank from the Sustainable Energy Fund for Africa would help greatly to many. Gaborone BOTSWANA. Melissa

      • New Africa Business News, Staff Correspondent August 20, 2021 at 2:58 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Samuel August 20, 2021 at 2:52 am Reply

      Sustainable Energy Fund for Africa is a good investment. Abuja Nigeria. Samuel

      • New Africa Business News, Staff Correspondent August 20, 2021 at 2:57 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Lisa August 20, 2021 at 2:53 am Reply

      Thank you for the daily newsletters. Berlin GERMANY. Lisa

      • New Africa Business News, Staff Correspondent August 20, 2021 at 2:57 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Luke August 20, 2021 at 2:56 am Reply

      I like to thank you and teams for covering the whole Continent. Bisho in South Africa. Luke

      • New Africa Business News, Staff Correspondent August 20, 2021 at 2:57 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Posted On 24 Jun 2022

    Ghana & Nigeria to Improve Cross-Border Trade

    Posted On 21 Jun 2022

    Tanzania Seeks to Reach New Record Cashew Production by 2025

    Posted On 16 Jun 2022

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    New Africa Business News, Person of the Year 2020-2021, Goes to Dr. Arikana Chihombori Quao

    Posted On 01 Jan 2021

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Thanks for reading, Africa’s fastest...

    Posted On 27 Apr 2022

    Facebook

    Latest Posts

    Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

    Ghana & Nigeria to Improve Cross-Border Trade

    Tanzania Seeks to Reach New Record Cashew Production by 2025

    Recent Posts

    • Africa Exchange Fair Trade Limited (AFEX) Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
    • Ghana & Nigeria to Improve Cross-Border Trade
    • Tanzania Seeks to Reach New Record Cashew Production by 2025
    • Nestle Nigeria Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
    • World Trade Organization published…Trade plays an Important facet in Access to Medical, Goods and Services

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.