Pan-African financial institution the African Export-Import Bank (Afreximbank) has committed €56 million towards a rural electrification initiative in Cameroon.
The funding will enable the construction of up to 87 off-grid solar photovoltaic systems across 200 localities in the country, electrifying 1,000 localities with clean power.
The financing package was signed by Georges Elombi, Executive Vice President of Afreximbank and Alamine Ousmane Mey, Cameroon’s Minister of Economy, Planning and Regional Development.
The package aims to address the disparities between urban and rural electrification, which currently stands at 65% and 25%, respectively.