Poor infrastructure is having a major impact on Africa's competitiveness.
It is the country's first IPP with utility-scale energy storage.
The funds will support infrastructure projects in the Zambezia Province.
The IFC's commitment to Africa is stronger than ever.
Sub-Saharan Africa has an urgent need to expand its healthcare infrastructure.
The IFC invested US$11.5 billion across 40 countries.
Namibia, Eritrea and Tanzania have seen major growth in the first half of the year.
Construction of the second phase will start in 2024.
Annual investment of US$170 billon is needed up to 2030.
JER Group has already secured permits for 10,000 hectares of land.