IFC partnership for Gridworks-backed utility in Burundi


Weza Power – a new private-sector utility created by our portfolio company Virunga Power and the Government of Burundi – has taken a major step forward as the International Finance Corporation (IFC) announced it will become a partner in the project.

IFC have signed an agreement to offer the project early-stage development funding and technical assistance that will support and accelerate Weza’s development.

This announcement follows important meetings convened by Power Africa and attended by Gridworks’ Business Development Director, Shaun Githuku, to bring together project partners and donors including the U.S. International Development Finance Corporation, The Global Energy Alliance for People and Planet (GEAPP), IFC, U.S. Trade and Development Agency (USTDA), Virunga Power, and The World Bank to share ideas and progress updates with the Government of Burundi.

Just 12% of Burundi’s population has access to electricity, with that number falling to 2% in rural areas, one of the lowest rates in Africa. Working closely with development financiers and donors, Weza Power will bring clean, affordable and reliable power to as many as 9 million people in Burundi.

Pictured signing the agreement are Virunga Power CEO, Brian Kelly and IFC’s Regional Vice President for Africa, Sergio Pimenta.

You can find out more about Weza Power here.

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