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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone - The $1billion Mpatamanga dam on the Shire River is a public-private cooperation that beholds Scatec and EDF financing, building and operating the 350MW plant. Scatec and EDF will together carry a 55% equity stake in the project. The Malawian government will own 30% and the World Bank Group’s International Finance Corporation (, IFC) will own 15%. The IFC is providing $350 million towards project costs in loans and guarantees. The dam will be 45m high with a 22km-long reservoir and two generating facilities: a 309MW “peaking plant” to provide energy during peak demand, and a 41MW downstream generator. Scatec allied with British International Investment and Norwegian state development financer Nor fund to...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone - The announcement was made by the Nigerian National Petroleum Company (NNPC), Nigeria’s only entity licensed to operate in the petroleum industry. The information was made by the Nigerian National Petroleum Company (NNPC) two months after Dangote Industries Limited opened an application to raise N300 billion ($723 million) in a bid to finance the group’s integrated petrochemical complex. Mele Kyari – CEO of NNPC stated the timeline for the petrochemical complex activities, stating Projection is the first quarter, but we think it can come up by the middle of next year.” The refinery project has been long hampered by a number of several issues including lack of access to foreign currency, an ailing economy,...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone - Kwasi Kwarteng parents were from Ghana in the 1960s, while Cleverly’s mother hails from Sierra Leone and whose father is white, has in the past spoken about being bullied as a mixed race child and has told the party needs to do more to attract Black voters. Suella Braverman, whose parents migrated to Britain from Kenya and Mauritius six decades ago, succeeds in Priti Patel as the second Ethnic Minority Home Secretary, or Interior Minister, where she will be responsible for police and immigration. The increasing variety is in part thanks to an impetus by the Conservative Party in contemporary years to put forward a more mixed set of candidates for parliament. British administrations have until a few decades...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- Rwanda launched the GasMeth Compressed Natural Gas project in Lake Kivu. In attendance was delegates from the African Export-Import Bank (Afreximbank). The project, being developed by Gasmeth Energy Limited, has the capacity to rapidly transform the industrial and trade landscape of Rwanda and the broader East African sub-region. Afreximbank’s involvement in the project dates back to 2020, when the Bank approved a project preparation facility in favour of GasMeth Energy Limited. This facility crucial and its rapid progression to bankability. In addition, Afreximbank has been appointed as the project’s Mandated Lead Arranger and will lead the syndication of the debt finance estimated at more than US$300 million. Upon its...