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Thursday, 05 March 2015

Africa-France: €54 Million for energy sector

The French electrical firm Schneider has announced a fund of €54.5 million euro to finance access to energy in sub-Saharan Africa. The Energy Access Ventures Fund specifically targets the 625 million inhabitants of sub-Saharan Africa who do not have access to electricity. They aim to bring electricity to one million households by 2020 through investments in about 20 small and medium African businesses. The fund shall provide technical assistance to businesses that are developing low-carbon and cheap energy to peri-urban and rural populations. The Schneider Group shall work in partnership with several European institutions such as the European bank of investment (BEI), the French agency for development (AFD) and the Africa business support and investment fund (Fisea).

Source: allafrica.com