No Result
View All Result
Friday, June 9, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Govt aims to transform fishing industry with new aquaculture centre

    Maiden Ghana Automotive Summit set for June 27

    Govt issues one-month ultimatum for merchant subscribers to register SIMs

    Govt committed to prioritizing gender mainstreaming in energy policies – Herbert Krapa

    #CitiBusinessFestival: Go digital to increase customer reach – Businesses told

    GRA apprehends shop owners at Achimota for tax infractions

    Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula

    Unlock the full potential of mining, energy sectors for domestic industrialization – Abu Jinapor

    Update your records or have your names expunged – ORC tells businesses

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula

    Update your records or have your names expunged – ORC tells businesses

    Ghana is the best destination for investment in West Africa – Bawumia

    African leaders urged to push for electronic cars over combustible automobiles 

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Re-consider computation of VAT for local industries- AGI tells govt

    IMF proposes acquisition, mergers of banks to mitigate financial sector instability

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

  • TECHNOLOGY

    #CitiBusinessFestival: Go digital to increase customer reach – Businesses told

    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Citi Business Festival: Forum on Digital Economy comes off today

    Citi Business Festival: 8 pillars of digital economy by TechGulf’s CEO

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    WTO Chief urges African governments to increase trade, agric investment

    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Govt aims to transform fishing industry with new aquaculture centre

    Maiden Ghana Automotive Summit set for June 27

    Govt issues one-month ultimatum for merchant subscribers to register SIMs

    Govt committed to prioritizing gender mainstreaming in energy policies – Herbert Krapa

    #CitiBusinessFestival: Go digital to increase customer reach – Businesses told

    GRA apprehends shop owners at Achimota for tax infractions

    Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula

    Unlock the full potential of mining, energy sectors for domestic industrialization – Abu Jinapor

    Update your records or have your names expunged – ORC tells businesses

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula

    Update your records or have your names expunged – ORC tells businesses

    Ghana is the best destination for investment in West Africa – Bawumia

    African leaders urged to push for electronic cars over combustible automobiles 

    Modify old trade conventions to favor local printing firms – AGI tells govt

    Publish gold-for-oil policy document to improve transparency – Dr. Manteaw

    Re-consider computation of VAT for local industries- AGI tells govt

    IMF proposes acquisition, mergers of banks to mitigate financial sector instability

    Ghana and Côte d’Ivoire partner to tackle cocoa smuggling

  • TECHNOLOGY

    #CitiBusinessFestival: Go digital to increase customer reach – Businesses told

    #CitiBusinessFestival: Trust ecosystem needed to minimize e-commerce fraud – Benedict Bentil

    Citi Business Festival: Forum on Digital Economy comes off today

    Citi Business Festival: 8 pillars of digital economy by TechGulf’s CEO

    Cyber Security Authority mandate critical to country’s development – Joseph Cudjoe

    MTN shareholders given choice to convert dividend or take cash

    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    WTO Chief urges African governments to increase trade, agric investment

    Mining propels Ghana to beat growth estimates in fourth quarter

    BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources

    Foreign exchange: Several African countries have a shortage of US dollars – why this happens and how to fix it

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

S.A’s Eskom signs R6bn deal with France’s AFD

bycitibusinessnews
March 20, 2017
in Africa, Southern Africa, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Eskom and AFD today signed a R 6 billion (€400 million) multi-tranche framework agreement to support Eskom investments in the extension and reinforcement of its power transmission grid.

Eskom’s Chief Financial Officer Anoj Singh said: “This multi-tranche loan facility will contribute towards Eskom plans to strengthen and refurbish the transmission infrastructure while diversifying our funding structures.”

AFD’s funding will focus on transmission lines and substations that support grid strengthening in areas where the development of future renewable energy sources are envisaged as well as to support the facilitation of cross-border transmission projects. As such, the funding will contribute to AFD’s global objective of dedicating 50% of its funding to development projects that have a climate change co-benefit.

ADVERTISEMENT

AFD’s Chief Executive Officer, Rémy Rioux, said: “This new funding to Eskom reiterates the willingness of AFD to be a key financial partner of the South-African utility. Since the beginning of our engagement with Eskom, almost 10 years ago, we have made the choice to focus our support on targeted areas where we believe a development finance institution like AFD can provide the most value-added, i.e. renewable energy production, renewable energy related grid reinforcement and expansion, as well as technical knowledge sharing.”

This funding represents the first multi-tranche facility approved by AFD in the African continent. This new instrument recently developed by AFD opens a 3-year window during which the funding is made available to Eskom to finance projects that are compliant with eligibility criteria that have been agreed upon between AFD and Eskom, namely: be part of Eskom’s Transmission Development Plan, contribute to the evacuation of the renewable energy (existing or future) and/or facilitate the development of cross-border transmission networks.

This multi-tranche facility provides Eskom with mid-term visibility on the availability of funding for its Transmission Development Plan. It also reinforces AFD’s position as a long-term partner of the South-African power utility – since its first €100 million financing approved in 2007 for the Sere wind farm, and the recent signing a €150 million (R2.3 billion) facility to support Eskom investments in the distribution network.

The multi-tranche facility has been approved while the partnership between Eskom and Électricité de France (EDF) – that was entered into in November 2015 – is completed. The partnership grant provided by AFD and the French Ministry of Finance focused on knowledge, experience and expertise sharing between the two utilities, on various areas, including smart grids. The partnership has produced recommendations that will improve performance in terms of system efficiency and reliability. The multi-tranche facility will build on the results of this partnership to develop projects.

“We appreciate AFD’s long-standing commitment and support and are pleased that we can continue the valuable partnership with this organisation whose mission is to improve and support Africa’s energy development goals and mobilise resources for the continent’s economic and social development”, said Eskom’s Interim Group Chief Executive Matshela Koko.

–

Credit: CNBC Africa

Related Posts

Top Stories

Govt aims to transform fishing industry with new aquaculture centre

bycitibusinessnews

President Nana Addo Dankwa Akufo-Addo says his government is keen on transforming Ghana’s fishing industry. Recognizing the crucial role of...

Read more

Govt issues one-month ultimatum for merchant subscribers to register SIMs

Govt committed to prioritizing gender mainstreaming in energy policies – Herbert Krapa

#CitiBusinessFestival: Go digital to increase customer reach – Businesses told

GRA apprehends shop owners at Achimota for tax infractions

Telcos, BoG to collaborate to retrieve locked funds on MoMo accounts – Ursula

Unlock the full potential of mining, energy sectors for domestic industrialization – Abu Jinapor

Next Post

Goldfields pays 0.5 billion cedis in taxes for 2016

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2023 Citi Business News - CitiBusinessNews.com by CNR Digital.