BlackRock Fund acquires stake in Africa's largest wind farm.

Africa Finance Review

Feb 21, 2024 — 1 min read

BlackRock's Climate Finance Partnership, a public-private finance fund, has acquired a 12.5 per cent stake in Kenya’s Lake Turkana Wind Power (LTWP) from Danish turbine manufacturer Vestas.

Why is this important: The 310-megawatt (MW) Lake Turkana Wind Power farm, which supplies renewable energy to Kenya's national grid, was up for sale in 2020 when Google committed to acquiring the same stake. However, the technology firm pulled out due to delays in the project relating to the transmission line.

Though the deal's value is unknown, the Climate Finance Partnership was keen to acquire 31.25% of the wind farm from other shareholders, including Finnfund, Finland’s development financier and IFU Denmark’s Investment Fund for Developing Countries.

The bottom line: Lake Turkana Wind Power (LTWP) built the €630 million wind farm through debt and equity and has experienced a lot of investment activities over the last year, including new investment from UK-based CFP UK Holdings acquisition worth Sh14.5 billion.

IFC Considers $200Million Debt Investment in Airtel Africa.

The International Finance Corporation (IFC) is considering providing Airtel Africa with a debt financing facility of up to $200 million. Some Context: Airtel Africa plc provides telecommunications, data centres, distribution networks, and mobile money services across 14 West, Central, and East African countries. The company intends to use the new

Egypt's Beltone Investment Holding Launches $100Million Private Credit Platform

Egypt-based Beltone Investment Holding (BIH), an affiliate of Beltone Holding, has launched a $100 million private credit platform to support Egyptian exporters. Why is this important: Few private credit offerings exist across Africa, and Beltone's platform provides a unique opportunity in the Egyptian financial markets. The private credit

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Beltone Investment's $100 million private credit platform, Kenya's $2 billion PPP airport project, and Airtel Africa's $200 million debt facility. In Today's Email: * Corporate Debt: IFC mulls a $200 million debt facility for Airtel Africa. * Private Credit: Beltone Investment Holding launches a

IMF and Mali Agree On $120 Million Rapid Credit Facility.

Mali recently reached a staff-level agreement with the International Monetary Fund (IMF) to obtain emergency financing through the Exogenous Shock Window of the Rapid Credit Facility (RCF). Why is this important: The agreement will provide Mali with $120 million (approximately 0.6% of GDP) to support its urgent balance-of-payments (BOP)

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IFC Considers $200Million Debt Investment in Airtel Africa.

Egypt's Beltone Investment Holding Launches $100Million Private Credit Platform

This Week in Africa Finance

IMF and Mali Agree On $120 Million Rapid Credit Facility.