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AfrElec GREEN BONDS AfrElec
Nairobi plans to float green bond to
finance mass transit system
KENYA THE Kenyan capital plans to float a green bond “We need to offer residents of Nairobi solu-
to finance a mass transit system and expand tions that clear the mess witnessed over the years.
existing infrastructure for waste management We intend to float a green bond, and what we
and water distribution, the Nairobi City County raise will be used to create order and open up
governor Johnson Sakaja has announced. opportunities for our people and make Nairobi
The Nairobi Metropolitan Area Transport work for everyone,” he is quoted as saying.
Authority (NaMATA) recently revealed plans for Sakaja added that the new government is
a new Bus Rapid Transit (BRT) network to be focused on domestic capital mobilisation, crit-
exclusively operated by electric vehicles (EVs), ical in supporting medium to long-term fiscal
in a bid to reduce carbon emissions whilst easing consolidation plans.
congestion in the capital. He also revealed that Nairobi Water and Sew-
Like many African countries, Kenya has erage Company alone requires about KES 30bn
been switching to cheaper/cleaner EV mass ($250mn) to offer efficient services and develop
transit. EV start-ups Opibus and BasiGo are in proper water and waste management system for
pilot phases and expected to roll out EV buses the people of Nairobi.
in Nairobi and later elsewhere in the country, “We look forward to partnering with the
according to reports. Ministry of Investment, Trade and Industry,
Governor Johnson Sakaja, speaking at the and associated state corporations and agencies
Nairobi Securities Exchange (NSE), said part of to conceptualise and explore county financing
the funds raised will be used to tackle garbage options through the NSE to facilitate the mobili-
problems by converting waste into energy. He sation of low-cost and long-term private capital
did not specify how much the city seeks to raise to finance, or refinance the County’s projects,” he
but said details would be announced soon, The is quoted by The Standard as saying.
Standard reported.
Firering announces successful
drilling at lithium-tantalum
project in Cote d’Ivoire
CITE D’IVOIRE FIRERING Strategic Minerals has revealed that look forward to providing the market with these
it intersected pegmatite in all 19 drill holes at assay results in due course”.
its Atex Lithium-Tantalum project in the Ivory Firering is an AIM-listed mining company
Coast. focused on exploring and developing a portfolio
The West Africa-focussed company also of mines producing critical minerals in the Ivory
revealed that the visual lithium mineralisation Coast including lithium and tantalum to support
was discovered in 18 of those 19 holes, and the the global transition to net zero emissions.
first assay is due to arrive in Q4. It hopes that its Atex Lithium-Tantalum Pro-
“I am pleased to provide our next update ject in northern Ivory Coast will become a mine
regarding our Phase 1 core drilling programme, for ethically sourced lithium, supplying EV bat-
which has been completed successfully,” said teries, high-tech electronics and other fast-grow-
chief executive Yuval Cohen in a statement. “We ing end markets.
Week 41 13•October•2022 www. NEWSBASE .com P9
