Harith's interests include Azura Edo independent power plant (IPP), a gas turbine power station in Nigeria, and Kelvin Power Station in South Africa. Updated Wed, June 22nd 2016 at 14:40 GMT +3Two Africa-focused funds have created a new energy joint venture capable of generating 1,575 megawatts (MW) of electricity in at least 10 countries by merging assets totalling $3.3 billion. Established in 2007, the AFC provides public and private money for major infrastructure projects around Africa and has a balance sheet of $3.2 billion. The deal to develop and finance projects, announced on Wednesday, brings together Lagos-based Africa Finance Corporation (AFC) and Harith General Partners, which has offices in South Africa and Ivory Coast. A report published last month by PricewaterhouseCoopers (PwC) said an estimated 643 million people are living without electricity in Africa, with 80 percent based in rural areas.

Source: Standard Digital June 22, 2016 09:56 UTC