Global African Hydrogen Summit’s Post

SDX has received the first instalment of the West Gharib sales proceeds, amounting to US$3.5 million. We have repaid in full the outstanding secured EBRD reserves-based lending facility, amounting to US$2.7 million. We have also agreed an amendment to the Convertible Loan Agreement signed on 27 July 2023, meaning a further $750,000 will be drawn down to pay service providers in relation to ongoing Moroccan drilling activities and general corporate purposes. With the repayment of the secured lending facility, we have more flexibility to deliver shareholder value by growing our Moroccan assets, executing on the energy transition strategy, and continuing to exit Egypt. 🔗 Read the full announcement: https://bit.ly/3QiJSd3 #Morocco #Energy #Investing

Saudi Sovereign Fund's Dividend Windfall from #Aramco Shares The #PublicInvestmentFund (PIF) is set to receive a significant boost with an estimated $5 billion in dividends from #SaudiAramco, following the increase in PIF's stake to 16%. This inflow will support the PIF's domestic investments, including the ambitious #NEOM project, amidst its vital role in diversifying Saudi Arabia's economy. For more information, visit Saudi Business News. Link in bio. #SaudiBusiness #SaudiNews #Vision2030 #SaudiArabia #Economy #Investment #SovereignWealthFund #OilAndGas #FinancialGrowth #EconomicDevelopment

TLG Capital, a leading alternative investment firm, has announced a $10 million structured private credit facility in one of the largest aluminium recyclers in Nigeria, in collaboration with Wema Bank Plc., pioneer of Africa’s first fully digital bank, ALAT. The $10 million investment is expected to create the largest and first industrial-scale aluminium recycler in Nigeria, according to a statement by TLG Capital. The five-year carbon footprint reduction of the project is estimated to be equivalent to removing 100,000 passenger vehicles off the road. Compared to financing solar PV energy in the region, this project offers twelve times greater dollar-for-dollar emissions reduction. The plant will also create 200 jobs for Nigerians. This investment is one of many by TLG Capital which has taken a unique approach to investing in Nigeria. Unlike many investors deterred by currency fluctuations, TLG partners with reputable Nigerian banks like Wema Bank Plc.. This collaboration addresses the challenge of investment exits by involving Wema from the start, ensuring a smooth transition and ongoing support. By leveraging Wema's local expertise, TLG helps clients achieve maximum success, growth, and operational flexibility. Invest In Nigeria 🇳🇬 #GodBlessNigeria #MayTinubuSucceed #MayTLGSucceed

GCC Nations Hit Record High in Bond and Sukuk Issuance The #GCC countries have collectively issued bonds and sukuk worth $45 billion this year, setting a trajectory to surpass 2020's record levels. With #SaudiArabia leading the pack, the region showcases robust financial strategies despite stable oil prices. The funds are channeled towards benchmark yield curves, eco-friendly projects, and ambitious infrastructure investments aligned with national objectives. Discover detailed insights and implications of these financial maneuvers on Saudi Business News, link in bio! #SaudiBusiness #SaudiNews #Vision2030 #SaudiArabia #GCC #Bonds #Sukuk #Finance #Investment #Infrastructure #Economy #SustainableDevelopment #PIF #Aramco #EmiratesNBD #MEEDProjects

ALN Nigeria | Aluko & Oyebode is pleased to have acted as Nigerian counsel to a global syndicate of 11 Lenders in connection with the landmark USD1.16 billion equivalent dual currency facility provided to the Africa Finance Corporation (AFC).   This transaction is significant as it represents AFC’s largest-ever debt facility, attracting participation from new lenders across the Middle East, Europe and Asia. It is expected that the financing will position AFC to further its mission of developing and supporting critical infrastructure projects in Africa. The transaction was co-led by our partners, Funmilayo Otsemobor and Oludare Senbore, and assisted by our Senior Associate, Tamilore Oluwalaiye, and our Associates, Adeyemi Ayeku and Stephen Ezekeoma. 🔗 Read more: https://lnkd.in/dyWj5zVt #AlukoandOyebode Ashurst MUFG Allen & Overy #Nigeria #AfricaFinanceCorporation #AFC #InfrastructureFinancing #AfricaDevelopment #LandmarkDeal #FinancialMarkets #MultilateralFinancing #ProjectFinance

Nama Electricity Distribution Company (NEDC), a wholly-owned subsidiary of state-owned electricity and water services provider Nama Group, is preparing to issue a US dollar-denominated Sukuk facility under a new trust certificate issuance program. Nessreen Tamano has the story. Islamic papers under the program will be issued through the company’s trustee, Mazoon Assets Company (MAC), and Citi (London Branch) will be acting as the delegate of the trustee. The Sukuk program has been assigned an expected rating of ‘BB+(EXP)’ by Fitch Ratings, in line with NEDC’s long-term issuer default rating and MAC’s senior unsecured rating of ‘BB+’, a note from the rating agency said. https://lnkd.in/d2Rpu-rD #REDmoney #IFN #IslamicFinance #Finance #SukukFacility #SukukMarket #TrustCertificate #CapitalExpenditure #NEDC #NamaGroup #FitchRatings #Oman

Nama Electricity Distribution Company (NEDC), a wholly-owned subsidiary of state-owned electricity and water services provider Nama Group, is preparing to issue a US dollar-denominated Sukuk facility under a new trust certificate issuance program. Nessreen Tamano has the story. Islamic papers under the program will be issued through the company’s trustee, Mazoon Assets Company (MAC), and Citi (London Branch) will be acting as the delegate of the trustee. The Sukuk program has been assigned an expected rating of ‘BB+(EXP)’ by Fitch Ratings, in line with NEDC’s long-term issuer default rating and MAC’s senior unsecured rating of ‘BB+’, a note from the rating agency said. https://lnkd.in/d2Rpu-rD #REDmoney #IFN #IslamicFinance #Finance #SukukFacility #SukukMarket #TrustCertificate #CapitalExpenditure #NEDC #NamaGroup #FitchRatings #Oman

🎉 Great News! Sterling Bank has taken a major stride towards a sustainable future by powering its headquarters entirely with solar energy. ☀️💡 In Nigeria, this marks the first time a bank has transitioned to being fully solar-powered.🌍♻️ Providing clean and renewable energy to run daily operations, this initiative shows how solar power can be an effective solution for businesses, carving a path for a more sustainable tomorrow! 💼📈 Indeed, Sterling Bank is showing us that sustainability is not just about protecting the environment. It's about creating a future where businesses can thrive without compromising our planet's health. 💚🌿 The sterling journey towards a green economy is one worth emulating. Kudos to Sterling Bank for leading the solar revolution in Nigeria! 🙌🇳🇬 #SterlingBank #SolarPower #Sustainability #GreenEconomy #RenewableEnergy To learn more, check out the full article here: https://lnkd.in/embPQiDA

Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana and Board Chairman of Stanbic Investment Management Services [SIMS], has underscored the crucial role of financial institutions in driving the sustainability agenda across the country. Dive in more here: https://lnkd.in/d_3RfzKk #BFTOnline #EconomicNews #FinancialNews #BusinessNews

“Oman’s much improved macroeconomy, thanks to surprising reform and decent oil prices, should drive interest in new IPOs,” said Hasnain Malik, a Dubai-based strategist at Tellimer. “But the foreign audience is likely limited to the very few remaining dedicated small emerging and frontier market funds.” Nice to chat with Julia Fioretti at Bloomberg about a frontier market that is often in the shadow of its larger neighbours in the GCC but where there has been fundamental improvement after the leadership change in 2020. Let's see if it is enough to entice back international investors. #frontiermarkets #oman #ipo #oilandgas https://lnkd.in/eWv7AwWZ