{"id":14651,"date":"2011-12-16T00:00:40","date_gmt":"2011-12-16T00:00:40","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/12\/atlantic-energy-boateng-plan-n1-13bn-infrastructure-financing\/"},"modified":"2011-12-16T00:00:40","modified_gmt":"2011-12-16T00:00:40","slug":"atlantic-energy-boateng-plan-n1-13bn-infrastructure-financing","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/12\/16\/atlantic-energy-boateng-plan-n1-13bn-infrastructure-financing\/","title":{"rendered":"Atlantic Energy, Boateng plan N1.13bn infrastructure financing"},"content":{"rendered":"
\n

ATLANTIC Energy, a private upstream oil and gas group in Nigeria and African visionary and international designer, Ozwald Boateng\u00a0has agreed to establish a multi-million dollar charitable organisation (Made in Africa Foundation) for the funding of infrastructure projects in Africa.<\/p>\n

Made in Africa Foundation will start off with a grant of $ 7 million (about N1.13 billion naira) and will provide \u201cfirst mile\u201d finance to Africans and African businesses involved in the development of major infrastructure projects in the region.<\/p>\n

The General Counsel and Executive Director of Atlantic Energy, Mr. Dayo Okusami said the company is committed towards corporate responsibility for the sustainable development of infrastructure projects in Nigeria and others parts of Africa.<\/p>\n

\u201cAtlantic Energy\u2019s philosophy is based on the pillar of Enduring Commitment \u2013 an abiding promise towards corporate responsibility for the sustainable development of infrastructure projects in Nigeria and others parts of Africa\u201d he said.<\/p>\n

\"\"<\/p>\n

Minister of Trade & Investment, Olusegun Aganga<\/p>\n<\/div>\n

Okusami noted that \u201cAtlantic Energy is pleased to be a founding donor and supporter of this exceptional charity and we look forward to fostering a continent-wide push for sustainable infrastructure development. We believe the feasibility study will contribute to the acceleration of the much needed power infrastructure in countries such as Nigeria.\u201d<\/p>\n

The Atlantic boss stressed that upstream company is committed to underwrite US$7 million for the independent power project feasibility studies, a renewal master plan in the eastern Africa, as well as the Foundation\u2019s running costs for the first three years.<\/p>\n

Okusami said \u201cWe believe the feasibility study will contribute to the acceleration of the much needed power infrastructure in countries such as Nigeria\u201d<\/p>\n

African visionary and international designer, Ozwald Boateng said \u201cIt\u2019s a well-known statistic that US$400 million of funding for feasibility studies and master plans across sub-Saharan Africa would develop over US$100 billion of infrastructure projects, which in turn would create a trillion dollars of value across Africa. The first step is often the hardest and we have created this Foundation with Atlantic Energy to make that step easier for Africans.\u201d<\/p>\n

Finance will be awarded for the drafting of feasibility studies and business plans ahead of seeking project finance from sources such as private equity, development finance institutions and commercial banks.<\/p>\n

Made In Africa Foundation a Mauritius-based company dedicated to bringing innovative ideas and capital to Africa will focus on first-stage funding of infrastructure projects in Africa with the $7 million grant.<\/p>\n

The foundation was founded in 2006 by Ozwald Boateng, Chris Cleverly and Pr. Hassan Kimbugwe and has co-hosted with former Ghanaian President Kufor the State Banquet for Ghana\u2019s African Union conference, and the UK\u2019s Department for International Development 2010 Whitehall conference on Growth Corridors.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

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ATLANTIC Energy, a private upstream oil and gas group in Nigeria and African visionary and international designer, Ozwald Boateng\u00a0has agreed to establish a multi-million dollar charitable organisation (Made in Africa Foundation) for the funding of infrastructure projects in Africa. Made in Africa Foundation will start off with a grant of $ 7 million (about N1.13 billion naira) and will provide \u201cfirst mile\u201d finance to Africans and African businesses involved in the development of major infrastructure projects in the region. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14651","post","type-post","status-publish","format-standard"],"yoast_head":"\nAtlantic Energy, Boateng plan N1.13bn infrastructure financing - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/12\/16\/atlantic-energy-boateng-plan-n1-13bn-infrastructure-financing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Atlantic Energy, Boateng plan N1.13bn infrastructure financing - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"ATLANTIC Energy, a private upstream oil and gas group in Nigeria and African visionary and international designer, Ozwald Boateng\u00a0has agreed to establish a multi-million dollar charitable organisation (Made in Africa Foundation) for the funding of infrastructure projects in Africa. 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