Namibia is set to receive a capital investment, which is part of a 10 million U.S. dollars fund to help the country boost its solar power, an official said on Friday.
The funding by the CDC group, a United Kingdom government-owned financial institution, will be available to both Namibia and South Africa.
In a statement, CDC Chief Executive Officer Nick O’Donohoe said the commitments the company has made towards Africa in terms of energy would boost solar power and other renewable technologies.
“This would be to support the growth of countless small businesses, the bedrock of any healthy economy across the continent,” he said.
CDC has already invested in more than 700 African companies. Enditem