AfDB to pilot Sh394 million clean stove project in Kenya
3 months ago, 11 July 19:00
An affiliate of the African Development Bank (AfDB) is set to pilot a clean cooking industry technical assistance project in Kenya, Ghana and Cameroon.
The Fund for African Private Sector Assistance (Fapa) will carry out the project, together with three others, at a cost of about Sh393.4 million ($3.9 million) aiming to create jobs for the youth through the development of small and medium enterprises (SMEs).
The clean cooking project alone will receive technical assistance — which comes as part of the actual implementation of the project on the ground – to the tune of Sh100.4 million.
“Prioritised under the New Deal on Energy for Africa, the Clean Cooking Industry technical assistance project of $995,360 (Sh100.4 million) will be implemented in the following pilot countries: Cameroon, Ghana, and Kenya. The project aims to promote the growth of clean cooking solutions industry across its value chain,” said AfDB in a statement.
Since the beginning of the year, the Fapa has approved seven SME projects for funding to the tune of Sh645.6 million, with the latest three receiving part of this financing.
The Fapa is multi-donor trust fund hosted by the AfDB to support SMEs.
Category: business opinion news lifestyle corporate markets economy