BUSINESS
Africa Finance Corporation’s portfolio company Infinity Power has achieved financial close on the 200MW Ras Ghareb Wind Farm in Egypt, securing $153 million in financing from EBRD, Proparco, and JICA. Once complete, the project will power 300,000 homes and cut 390,000 tonnes of CO₂ annually.
AFDB
NEW YORK, United States of America, September 26, 2025 — Seventeen African governments today announced reforms and concrete plans to expand electricity access under Mission 300 — a partnership led by the World Bank Group and the African Development Bank Group (AfDB) that aims to connect 300 million Africans to reliable power by 2030. The commitments were unveiled at the Bloomberg Philanthropies Global […]
AFRICA
The African Development Bank Group (AfDB) has announced the election of Sidi Ould Tah as its ninth president, signaling a new chapter for one of Africa’s most influential financial institutions. Sidi Ould Tah was elected by the AfDB’s Board of Governors, a body consisting of finance ministers, economy ministers, and central bank governors from the […]
SCIENCE
The African Development Bank (AfDB) and the International Financial Reporting Standards (IFRS) Foundation have signed a letter of intent to enhance sustainability disclosure practices across Africa. This agreement, made during the AfDB’s 2024 Annual Meetings in Nairobi, aims to improve transparency and accountability in the region’s financial markets. Kevin Kariuki, AfDB Vice President for Climate, […]
BENIN
The Republic of Benin has joined 16 other countries in acceding to the Establishment Agreement for Afreximbank’s impact investment subsidiary, the Fund for Export Development in Africa (FEDA). This accession marks a significant milestone in FEDA’s mission to drive economic development through impactful investments across the continent. Overview of FEDA FEDA is an impact investment […]