{"id":12363,"date":"2023-02-03T11:33:33","date_gmt":"2023-02-03T11:33:33","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition"},"modified":"2023-02-03T11:59:23","modified_gmt":"2023-02-03T11:59:23","slug":"afreximbanks-feda-secures-approval-for-geregu-acquisition","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition","title":{"rendered":"Afreximbank\u2019s FEDA Secures Approval for Geregu Acquisition"},"content":{"rendered":"

Africa-Press – Cape verde. <\/strong><\/span>The African Export-Import Bank\u2019s (Afreximbank) investment platform, the Fund for Export Development in Africa (FEDA), has secured the necessary internal approvals that allow the platform to acquire a minority stake in Nigerian-based power generation company, Geregu Power, as part of efforts to enhance energy security and industrialization in Africa.<\/p>\n

The approval and associated acquisition align with Afreximbank\u2019s strategic mandate to expand the renewable and transition fuel sectors in Africa.<\/p>\n

Mr Femi Otedola CON, Chairman of the Board of Directors at Geregu Power, stated that the participation of Afreximbank in the operations of the Nigerian Exchange Limited-listed company will not only expand the company\u2019s operations but will enhance and secure the \u201cfuture of the Nigerian Electricity Supply Industry (NESI),\u201d adding that, \u201cIn a period of contracting economic activity globally, to attract this investment from FEDA is testament to our long-term strategic plans and will accelerate our expansion to the wider West African Market.\u201d<\/p>\n

Geregu Power has a total electricity generation capacity of 450 MW. With the acquisition, FEDA will serve to support the organization as a minority investor, working closely with Geregu\u2019s management team to expand the business in accordance with Nigeria\u2019s wider power sector development plans.<\/p>\n

According to Prof. Benedict Oramah, President and Chairman of Afreximbank and Chairman of FEDA Platform Entities, the proposed investment \u201cmarks a critical step towards supporting Nigeria\u2019s power sector, and more broadly, towards advancing Africa\u2019s industrialization and energy security. Without adequate power, Africa cannot achieve global export competitiveness.\u201d<\/p>\n

For More News And Analysis About Cape verde<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Cape verde. The African Export-Import Bank\u2019s (Afreximbank) investment platform, the Fund for Export Development in Africa (FEDA), has secured the necessary internal approvals that allow the platform to acquire a minority stake in Nigerian-based power generation company, Geregu Power, as part of efforts to enhance energy security and industrialization in Africa. The approval […]<\/p>\n","protected":false},"author":84,"featured_media":12362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,331,328],"class_list":["post-12363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"\nAfreximbank\u2019s FEDA Secures Approval for Geregu Acquisition - Cape Verde<\/title>\n<meta name=\"description\" content=\"The African Export-Import Bank\u2019s (Afreximbank) investment platform, the Fund for Export Development in Africa (FEDA), ha ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afreximbank\u2019s FEDA Secures Approval for Geregu Acquisition - Cape Verde\" \/>\n<meta property=\"og:description\" content=\"The African Export-Import Bank\u2019s (Afreximbank) investment platform, the Fund for Export Development in Africa (FEDA), ha ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition\" \/>\n<meta property=\"og:site_name\" content=\"Cape Verde\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-03T11:33:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-03T11:59:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2023\/02\/postQueueImg_1675411578.28.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Afreximbank\u2019s FEDA Secures Approval for Geregu Acquisition\",\"datePublished\":\"2023-02-03T11:33:33+00:00\",\"dateModified\":\"2023-02-03T11:59:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition\"},\"wordCount\":271,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/cape-verde\/sites\/66\/2023\/02\/postQueueImg_1675411578.28.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Cape verde\",\"Cape verde\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition\",\"url\":\"https:\/\/www.africa-press.net\/cape-verde\/all-news\/afreximbanks-feda-secures-approval-for-geregu-acquisition\",\"name\":\"Afreximbank\u2019s FEDA Secures Approval for Geregu Acquisition - 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