The leading independent power producer (IPP) in sub-Saharan Africa today, announced the appointment of a new chairman, chief executive and other board positions.

The appointments came as Globeleq entered its next phase of development under the direct ownership of CDC Group plc, the UK’s development finance institution (DFI), and Norfund, the Norwegian Investment Fund for Developing Countries.

Under its new ownership, Globeleq is expected to boost power generation to Africa by adding at least 5,000 megawatts (MW) of generating capacity over the next 10 years.

Globeleq Chairman, Reuel Khoza said: “Africa's industrial development is dependent on the availability of electricity. One cannot speak of mining, commercial agriculture and food security, ICT, or even health and education without energy. Electricity is, in very significant ways, a sine qua non for Africa's socio-economic development.”

Also, the Chief Executive of CDC, Diana Noble, said: “What is inspiring about this new chapter in Globeleq’s story is that it has the potential to

be a truly transformational business that helps to bring reliable power to the lives of millions of people and their communities across sub-Saharan

Africa.

“As an original founder of Globeleq in 2002, CDC is proud that together with Norfund, our vision and resources will combine with the new CEO, Board  and high-calibre Globeleq team to deliver on a strategy to develop significant power generation capacity over the course of the next decade and beyond,” she said.