Africa-focused funds fuse $3.3 billion electric power assets

Two 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.

Chronic power shortages are one of the biggest obstacles to growth in countries across Africa, with a dearth of electricity or regular blackouts strangling industries and the continent is turning to outside investors and renewables to boost output.