concluded on the sidelines of the second summit on financing infrastructure in Africa which was held from February 2 to 3 in Dakar, the Senegalese capital, the treaty stipulates that Afreximbank and Ndar Energies SA will finance the development, design, construction and operation of the plant electric and gas pipeline. The agreement also appoints Afreximbank as lead developer of the project and mandated lead arranger to lead the provision of project preparation services and debt raising syndication.
The investment will diversify power generation, improve system resilience and help drive down electricity prices with a lower carbon footprint than existing alternatives.
It will also contribute to improving access to reliable and affordable energy, an essential element of the country's long-term competitiveness and sustainable economic growth.
As a reminder, at the end of 2021, Afreximbank's total assets and collateral stood at approximately US$25 billion and its shareholder funds stood at US$4 billion across Africa.
