BCEAO releases $ 6 billion for West African economies

The BCEAO has just made a liquidity injection of 3350 billion FCFA ($ 6 billion) at a fixed rate of 2% in favor of several banks of the UMOA. A total of 87 financial institutions participated in the operation. The Central Bank of West African States (BCEAO) made a further injection of liquidity to its member countries last week. In total, 3350 billion FCFA ($ 6 billion) were disbursed by the institution.

During the auction on September 14, 87 banks in the sub-region obtained an injection of liquidity at a fixed rate of 2%. With more than 1000 billion FCFA ($ 1.8 billion), it is the Ivory Coast which obtained the most important financing, ie 31% of the funds injected.

It is followed by Senegal with more than 580 billion FCFA ($ 1 billion), Mali with 466 billion FCFA (835 million $), Benin with 434.5 billion FCFA (777 million $) and Burkina Faso with 318 billion FCFA. ($ 569 million). Niger with 241.6 billion FCFA ($ 432 million), Togo with 219 billion FCFA (…

Pele Green Energy plans to expand its wind and photovoltaic activities in Africa

In South Africa, the operator of wind and solar farms Pele Green Energy wants to increase its activities on the African continent. As part of this ambition, the company has just received significant support from the Anglo-South African financial group Investec.

Pele Green Energy plans to expand its wind and photovoltaic activities in Africa

Pele Green Energy, the independent South African producer of electricity, aims to develop its activities in wind and solar energy in Africa thanks to the financial support of the Anglo-South African banking group Investec.

If the amount of this transaction has not been specified, Investec should support the capitalization or increase of the energy company's shares in new projects or existing assets, reports Bloomberg.

In the immediate future, the bank will provide funds to ratify the purchase of 20% of the capital of the 36 MW Touwsrivier solar project from the French industrial group Soitec. This will bring its total share to 55% in the power plant located in the Western Cape province, thus making the project predominantly South African.

Among the other projects that could benefit from the banking institution's help is the preparation of an offer for an emergency 2 GW renewable energy program by August. Added to this is the company's participation in the 5th cycle of the program for the establishment of renewable energy plants by independent producers (REIPPPP) by 2021.

“In the past cycle, we had won 900 MW of projects without a financial partner. For the next operation, we will have a large financier who will allow us to double the number of projects previously won, ”says Gqi Raoleka, co-founder of Pele Energy.