Kenya plans data centre fully powered by geothermal energy

Kenyan data centre company EcoCloud and Abu Dhabibased technology firm G42 have agreed to build a data centre that will run purely on geothermal energy. The Olkaria facility has an initial planned capacity of 100 MW, with the potential to expand to 1 GW, according to the companies. Data centres require huge amounts of electricity, especially with the growing use of power-hungry AI-based applications. Geothermal now contributes around half of Kenya’s total electricity supply.

African Infrastructure Investment Managers to acquire fibre network

A consortium led by African Infrastructure Investment Managers and including investors STOA and Thebe Investment Corporation is to acquire South African fibre network operator Octotel from its current owner, infrastructure investor Actis. The consortium has also acquired a minority stake in RSAWeb, a South Africafocused internet service provider. Both planned transactions remain subject to regulatory approval. Octotel caters to over 110,000 homes and businesses in the Western Cape.

$3.5bn restructuring agreed in principle for Zambia’s debt

Zambia says an agreement in principle has been reached with the country’s Eurobond holders to restructure more than $3.5bn of debt under the G20 Common Framework after months of negotiations. Minister of finance and national planning Situmbeko Musokotwane said that the deal provides “essential debt relief by the bondholders, including foregoing around $840m in claims and offering approximately $2.5bn in cash flow relief through reduced debt servicing payments during the IMF Programme period” and brings Zambia “closer to the completion” of debt restructuring.

Afreximbank makes first disbursement in the Caribbean to St Lucia

The African Export-Import Bank (Afreximbank) has announced the first disbursement from its recently-established Caribbean office in Bridgetown, Barbados. The $6m Education Rehabilitation Climate-linked Sovereign Term Loan Facility to the government of St. Lucia will fund infrastructure rehabilitation, including at 25 schools damaged during tropical storm Bret which affected the country in June 2023. The facility is a pilot by Afreximbank for its financing in the Caribbean Community (CARICOM) following the approval granted by its board for a $1.5bn limit for member states in the region.