Chinese equity firm eye Mmamabula

Speaking to Mmegi here on the sidelines of a briefing of African journalists, the Assistant Manager in the Fund's Southern Africa Investment department, Liu Xiaolei, said they have held talks with CIC Energy in the past and that though nothing has materialised yet, they are still hoping to come on board before financial closure in the lucrative project.

"Initially, we were interested in the Morupule B Power Project in Botswana, but we are told the government was only interested in debt facilities and not equity investment," Liu said. "We have since engaged the promoters of Mmamabula, CIC Energy, and learnt that they are facing some difficulties. We see it as an opportunity for us to get involved in the project should they fail to reach financial closure within the stipulated time."