Market News| Africa Business News

Magufuli to Move Ahead With Selous Dam Despite Criticism

Tanzania Selous Game Reserve, one of the world’s biggest faunal reserves has gained a lot of traction in recent times from a minimum of 50 multinational companies. The intention of these companies is to construct the Rufigi hydropower project at Stiegler’s Gorge. Potential bidders were required to have a minimum of US$ 500 million turnovers, as directed by the Ministry of Energy and Minerals. The Selous Game Reserve.... Read more »

Posted on : Monday , 2nd October 2017

$100 million Mining Deal Agreed in Rwanda

USA based Symbion Energy and Germany based Higland Group Holdings Ltd. (HGHL) have signed a $100 million deal to collaborate on a project to extract Methane from Lake Kivu in Rwanda. Symbion CEO, Paul Hinks said that the two designs in place for a $370 million project to generate as much as 106 megawats of Methane gas from the lake. Lake Kivu has an estimated reserve of 55 billion cubic meters of methane gas occurring.... Read more »

Posted on : Tuesday , 26th September 2017

Norwegian energy sector eye investments in Rwanda

10 companies from the Norwegian energy sector were hosted by the Rwanda-Norway Energy Forum last week. Rwanda’s energy continues to have tremendous potential for future growth as only 35 per cent of the country has access to electricity. The goal is to convert that number to 70 percent by 2018 and 100 per cent by 2024 according to the Rwanda Energy Group (REG) The Rwandan Government also have a vested interest in.... Read more »

Posted on : Friday , 22nd September 2017

Kenya-Spain Look To Finally Complete Power Line

The Kenyan Government has asked Spain to nominate a new contractor to undertake the completion of the Lake Turkana Wind transmission project, which has been stalling ever since the termination of the previous contractor due to their struggle with debt. Secretary of Energy, Charles Keter explained that the power line is funded by the Spanish government, prompting Nairobi to request the Spanish to handle the issue themselves and.... Read more »

Posted on : Tuesday , 19th September 2017

Rwandas Mega Project In The Works

Reliable power will be achieved with the completion of Nyabarongo hydropower project in the western part of Rwanda . The project is possibly the largest hydropower installation in Rwanda. More than 28MW of electricity is contributed by it to the national grid. A significant challenge to energy utilities has been the development of a modernized energy system especially for developing countries. The.... Read more »

Posted on : Tuesday , 19th September 2017

Rwandas Electrification a Must- REG Chief

According to new determined targets set by the Rwanda Energy Group (REG), productive users like community production centers will be able to relish uninterrupted power supply in five years. These targets are part of the commitments in the recently-signed performance contracts by REG and its subsidiary companies. By the end of 2018, the performance contracts state that the targets and strategies to reach government energy.... Read more »

Posted on : Tuesday , 19th September 2017

Rwandas Electrification objective

Additional financing for energy projects have been approved by Rwanda. The cabinet did this with the objective to close the gaps in power generation. It got approved during a cabinet meeting chaired by President Paul Kagame. He approved the loans and grants worth over $51 million to fund three major renewable energy projects. Before the end of next year the country targets to increase to 563MW of electricity. It also.... Read more »

Posted on : Monday , 18th September 2017

Kenya: the AfDB looks to fund Lamu coal project

The African Development Bank (AfDB) is considering to fund the construction of Kenya’s first coal-fired power plant. Speaking to Xinhua in Nairobi on Monday, AfDB Director-General of the East Africa Regional office, Gabriel Negatu, said the multilateral development finance institution is awaiting the environmental and social audits before they can release the funds. "The owners of the 1,000MW Lamu coal plant.... Read more »