EBRD promotes energy transition in Morocco’s mining sector with €13.6Mln Loan

The European Bank for Reconstruction and Development (EBRD) on Tuesday reaffirmed its support for Morocco’s energy transition by providing a €13.6 million loan to PROCANEQ, a company set up in Morocco in 2016 to provide mining subcontracting services to OCP Group. The EBRD financing, meant to step up the sector’s green transition, will be used […]

Egypt to lead solar energy projects in 7 African countries

Cairo-based Arab Industrialization Organization (AOI), a structure owned by the Egyptian government, has announced a plan to build solar power plants in seven African countries to reduce the energy deficit on the continent. AOI will develop renewable energies and reduce energy shortages in Uganda, Congo, Tanzania, Eritrea, Somalia and South Sudan. Solar plants in these […]

Saudi startup supporter VMS acquires minor stakes in Egyptian startup accelerator ‘Cash Cows’

Saudi Arabia-based venture studio VMS has acquired a minority stake in Egyptian start-up accelerator ‘Cash Cows’ as part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries, reports say. ‘Cash Cows’ in a press release indicated that the partnership aims to bring together resources, expertise and support to help the […]