UK to invest up to $300 M in Africa

UK: CDC Group, the UK government’s foreign investment arm, has announced it will invest $300 M in power grid development in Africa over the next five years.

This contribution will be made through Gridworks, a company that will make investments in African transmission networks, but also in the electricity distribution infrastructure.

CDC chief executive Nick O’Donohoe said, Gridworks Company will make funding in power transmission and distribution infrastructure.

Focused primarily on Africa, Gridworks’ ambition is to invest over $300 M of long-term capital in viable projects over the coming years.

CDC aims to open a regional office for West Africa in Nigeria’s commercial hub of Lagos early next year and establish a presence in Nairobi. It will also expand in Johannesburg and open representative offices in Abidjan and Cairo.

Source: North Africa Post