Afreximbank

Lekela Power signs PPA for 250-MW wind project in Egypt

Lekela Power, a pan-African renewable energy generation company, has sealed a power purchase agreement (PPA) with the Egyptian Electricity Transmission Co (EETC) for its 250-MW wind farm in the Gulf of Suez. The wind farm will be installed near Ras Ghareb and is slated for commissioning in 2021, reports indicated on Wednesday. Once operational, the […]

Saudi Arabia: Security officials confirm IS masterminded the attack at Shi’ite mosque

Saudi Ministry of Interior announced on Sunday the IS was responsible for the deadly attack on the Shi’ite mosque in the North province of Saudi that killed 21 people and wounded 101 people during Friday prayers. Security officials indicate the suicide bomber Saleh Bin Abdulrahman Al-Qashaami who blew himself was already on the wanted list […]

EBRD Supports Moroccan Small Businesses With €9.7 Mln Loan

The European Bank for Reconstruction & Development has approved a €9.7 Million loan to Fondation Albaraka, one of the largest microfinance institutions in Morocco for on-lending to local micro enterprises. Access to finance through banks remains extremely limited for micro, small and medium-sized enterprises (MSMEs) in Morocco. The EBRD funds will offer much-needed support for […]