• 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
    Kenya Sets up Online Platform for Women Traders
    Access Bank Zambia decided to coalesce with African Banking Corporation
    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)
    $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali

    $43 Million has been Validated by the Board of Directors of the African Development Bank to Madagascar in a bid to Subsidize the next phase of Energy Transmission Venture

    Posted On 21 Dec 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Abdul Rahman Bangura–

    Photo Credit: Siemens

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone-  The Power Transmission Network Reinforcement and Interconnection Project in Madagascar (PRIRTEM-II) comprises the construction of a 135-km, 220 kV interconnection cable between the capital – Antananarivo and the central industrial city of Antsirabé. Also, the project will enable to nourish the power produced by the Sahofika Hydropower Plant into the national grid, providing with some eight million people with accessible, clean energy.

    However, the financing includes a loan of UA 20 million ($28.6 million) from the African Development Fund (ADF), the concessional lending window of the Bank, and a loan of UA 10 million ($14.3 million) from Pillar 1 of the Transition Support Facility (TSF), the Bank’s financing mechanism for fragile and transition countries.

    The succeeding phase of the project also encompasses, the electrification of 19 townlet in the Soanindrariny, Ambohidranandriana, Ambatomena and Ambohimiarivo municipal councils of central Madagascar, a country which spite having enormous renewable energy potential, has an electricity access rate of only 15% nationally and 6% in rural areas.

    The Bank’s Country Manager in Madagascar – Mohamed Cherif, told the project indicates the Bank’s commitment to boosting admission to clean and low-cost energy. This switch, is anticipated to oversee to the arrival of new economic chances, the development of industrialization, boosted career competitiveness and job creation on the Indian Ocean island.

    As the sector’s lead contributor, the Bank is already energetically committed in various transformative energy projects in Madagascar, including PRIRTEM-I and the Sahofika plant, both intricately linked to PRIRTEM-II. The operation is aligned with the Bank’s Country Strategy Paper (CSP) 2017-2021 for Madagascar, that concentrates on the growth of energy and transport infrastructure to fund the country’s comprehensive growth, as well as with the National Energy Policy (NPE).

    The project is also in line with the Bank’s New Deal on Energy for Africa 2016-2025, as well as its High-5 priorities “Light up and Power Africa” and “Improve the quality of life for the people of Africa.”

     

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

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

    Invest in Modern Africa
    Africa Fastest Growing Continent. Six of the World’s Ten Fastest Growing Economies are in Africa. More than Half of Global Population Growth between now and 2050 is Expected to Occur in Africa. This Decade Belongs to Africa as Technology Ripples through the Continent. Africa the Untapped Market. Africa Great Continent to Invest & Grow Business. Africa the Last Frontier for Investment. Africa is the Future.

     

    New Africa Business News
     To Contribute, please click  paypal.me/newafricanews . We Appreciate all your Support

     

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com
    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Economic Commission for Africa Launched its Flagship Report, Focuses on Private Sector Innovative Financing

    Next Story

    Equatorial Guinea Outlines Plans Towards Oil and Gas Industry’s Road to Recovery in 2021

    12 Comments

    1. Freeman December 21, 2020 at 12:38 am Reply

      Thanks again African Development Bank for the great Leadership in these transmission network reinforcement and interconnection in the whole Continent. Make God continue to bless Afrika, our great continent, Mother of all Continents. We love you. Freeman in Bulawayo, Zimbabwe

      • New Africa Business News, Staff Correspondent December 21, 2020 at 12:39 am Reply

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

    2. Landry December 21, 2020 at 12:48 am Reply

      Beautiful job African Development Bank and the leadership. Yes, AFRICA is going to be ONE COUNTRY AGAIN. Thank you for reporting. Antsirabe MADAGASCAR. Landry

      • New Africa Business News, Staff Correspondent December 21, 2020 at 12:49 am Reply

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

    3. Yandee December 21, 2020 at 12:55 am Reply

      Africa develop bank is doing good job and our government in Madagascar. Thank you NABN for reporting. Antananarivo Madagascar. Yandee

      • New Africa Business News, Staff Correspondent December 21, 2020 at 12:56 am Reply

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

    4. Stanley December 21, 2020 at 1:02 am Reply

      Thank you for emailing me new Africa news, daily newsletters. Please continue feeding us with our great Continent’s news. Salima Malawi. Stanley

      • New Africa Business News, Staff Correspondent December 21, 2020 at 1:03 am Reply

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

    5. Emmanuel December 21, 2020 at 1:09 am Reply

      I hope, We as a continent harvest most of our energy from renewal energy. We have the energy. Nairobi Kenya. Emmanuel

      • New Africa Business News, Staff Correspondent December 21, 2020 at 1:10 am Reply

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

    6. Janet December 21, 2020 at 1:16 am Reply

      Fan of your online newspaper. Thank you all for the reports. Reading your daily reports gave me hope. Kampala Uganda. Janet

      • New Africa Business News, Staff Correspondent December 21, 2020 at 1:18 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

    Kenya Sets up Online Platform for Women Traders

    Posted On 28 Mar 2023

    Access Bank Zambia decided to coalesce with African Banking Corporation

    Posted On 27 Mar 2023

    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)

    Posted On 25 Mar 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

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

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Kenya Sets up Online Platform for Women Traders

    Access Bank Zambia decided to coalesce with African Banking Corporation

    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)

    Recent Posts

    • Kenya Sets up Online Platform for Women Traders
    • Access Bank Zambia decided to coalesce with African Banking Corporation
    • Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)
    • $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    • President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    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.