The Closing for the financing of the Kékéli Efficient Power Thermal Power Plant in Togo was concluded on July 10, to the tune of about 60 billion CFA francs, announce Oragroup and BOAD, co-arrangers in the context of this asset mobilization.

" The Orabank Group is proud to have contributed to the structuring and financing of such a major project, which is part of Togo's electrification strategy, which aims to provide access to electricity for all by 2030.",   Says Ferdinand NGON KEMOUM, CEO of the Lomé-based banking institution. " This pride is all the greater as it is the first time in the region that such financing has been provided by African financial institutions in such a large proportion in CFA Francs (70%)  (...)  »

 For BOAD, also based in Lomé, it is not only a question of continuing to support the energy sector in the WAEMU, but also of showing " its ability to federate local commercial banks around strategic infrastructure projects, especially in the context of public-private partnerships.",  according to its president Christian Adovelande.

It should be noted that several financial institutions were involved in this operation. Thus, the Togolese subsidiary of Oragroup is also involved in the project, as collateral agent, bank account holder  and lender, with the West African Development Bank. The two actors act within a pool banking, also including the Africa Finance Corporation (AFC), Banque Atlantique Togo, the International Bank for Africa in Togo (BIA Togo) and NSIA Banque Bénin.

Moreover, it is the Moroccan Attijariwafa Bank that will have played the role of credit agent of the financing, while a guarantee of extension of liquidity has been granted to commercial banks, it should be recalled, by the GuarantCo fund. 

As a reminder, the Power Plant project is being developed by the Pan-African Industrial Group Eranove, and the infrastructure will eventually have an installed capacity of 65 MW.