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Equity investment to support the activities of Gas Logistics in Africa
Project
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Signature date
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Location
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Multi-country Africa
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Financing tool
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Financing amount (Euro)
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14111006.58
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Financing details
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Equity investment of USD 15m
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Customer
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KEG HOLDINGS
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Type of customer
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Company
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Country of headquarters
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Mauritius
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Project number
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PZZ1301
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Environmental and social ranking
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A
Proparco's aim in supporting the activities of Gas Logistics is to promote access to energy sources other than coal or wood in Kenya and Uganda, in order to reduce combustion-related pollution and combat deforestation.
Client presentation
Gas Logistics is a leader in unloading, storing and marketing LPG in Kenya and Uganda.
Project description
The project aims to (i) extend existing storage activities, and (ii) implement activities downstream from the value chain and up to final clients, thanks to a new subsidiary which handles distribution.
Project impact
This project provides an original vehicle for access to energy - the key component of development in Africa. It is an attractive alternative to charcoal and firewood for cooking and (i) reduces combustion-related pollution, with a positive impact on human health, and (ii) reduces pressure on wood resources, by limiting deforestation. The project falls within AFD Group's climate category, given the replacement of more polluting competing energies. The project will theoretically give some 12.5 million people access to an energy source.