CEMAC zone: recession could reach 6% according to BEAC

All the indicators are certainly not red. But most of the economic indicators in the six countries of the Economic and Monetary Community of Central Africa (CEMAC) are already found the Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) at the end of the second annual session on June 24, 2020 in Yaoundé.

Analyzing the situation in Central Africa, it emerges that in the short and medium terms, the CEMAC zone is affected by the health crisis and the fall in the prices of the main export products. "

"In the first half of 2020, the revival of productive activities was slowed down in the sub-region by the disruption of supply circuits for imported products as well as by the restrictive measures adopted by the various governments to contain the effects of the pandemic. Although it is premature for the moment to fully grasp the impact of COVID-19 on national economies, it is already anticipated during this first semester a drop in production as well as a det…

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.