非洲

Wanted: funding models that deal with Africa’s infrastructure paradoxes

African projects have a reputation for risk, but in reality default rates are often lower than elsewhere

On the Mbei river, about 85km east of the Gabonese capital of Libreville, plans are well advanced for a 34MW “run-of-the-river” hydroelectric plant.

Unlike bigger hydroelectric stations that depend on a dam, Kinguele Aval will have a modest reservoir that should, at least in theory, minimise environmental destruction. It is expected to generate enough electricity for one in six residents of Libreville, a city of about 700,000 people.

The $205m plant will be owned by a joint venture between Gabon’s sovereign wealth fund and Meridiam Infrastructure Africa Fund — a French investor that has 14 projects on the continent, including a biomass plant in Ivory Coast, a geothermal station in Ethiopia and a port in Nouakchott, Mauritania.

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