Ofer, AfDB and FMO see their millions go up in smoke at Sendou

Dutch development agency FMO and the African Development Bank have opened an investigation into the financing of the Sendou power station by a group of promoters led by Stockholm-based businessman Louis Claude Norland Suzor. The two institutions have invested over $110 million in the power station with little to show for it. Private investors like Israeli tycoon Idan Ofer have also lost money. Africa Intelligence explains how the project has become a fiasco. [...] (2202 words)
Issue dated 28/09/2020 Reading time 9 minutes
The Sendou power station, Senegal.
The Sendou power station, Senegal. © Nic Bothma/EPA/Newscom/MaxPPP
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