The push by government for Rwanda to achieve a cashless economy is slowly gaining ground with more and more financial institutions embracing and promoting financial technology (fintech). Presently, the majority of banks have rolled out technology-driven services and solutions, a development that has helped them increase options to enhance services as well as enable customers to make transactions easily and deepen inclusion.   The.... Read more »

Posted on : Thursday , 23rd March 2017

African states and stakeholders have been urged to invest more in the power sector and close the continent's energy deficit.   Africa Progress Panel chairman and former UN Secretary-General Kofi Annan and the African Development Bank (AfDB) chief, Akinwumi Adesina, made the call during the launch of the "Lights, Power, Action: Electrifying Africa," report over the weekend.   The report is a follow up to the 2015 Africa.... Read more »

Posted on : Thursday , 23rd March 2017

Russian Ambassador to Ethiopia Vsevolod Tkachenko said Russian companies crave to invest in Ethiopia is increasing while eyeing the energy sector as a priority.   In an exclusive interview with The Ethiopian Herald, Ambassador Tkachenko stated that Ethiopia's rapid economic ascension lured Russian-based companies to do businesses here.   The ambassador said: "Our investors are keen on becoming part of the development in this.... Read more »

Posted on : Wednesday , 22nd March 2017

DAR ES SALAAM residents will soon breathe a sigh of relief over water shortages following completion of the construction of a 33KV power line that will enable pumping of 196 million litres of water from Upper Ruvu Water Treatment Plant to the city daily.   The 45-km power line was constructed from Chalinze sub-station to Mlandizi, where the newly built water treatment plant is located.   The major plant which is expected to address.... Read more »

Posted on : Thursday , 16th March 2017

The Rwanda Stock Exchange has said it will introduce a market makers scheme in an effort to infuse liquidity in the bearish market and boost volumes traded.   Market makers buy shares of a listed company, warehouse them and sell them to the public when prices appreciate, creating a balance in the market.   "The legal framework is in place," said Robert Mathu, executive director of the Rwanda Capital Markets Authority,.... Read more »

Posted on : Monday , 13th March 2017

In such a carbon constrained world of today, the development of renewable energy sources like that of electric power is remarkably compelling. Recent studies indicate that 600 million people in sub-Saharan Africa, which accounts for the 70 per cent of the population lack access to electricity. Half of all businesses in this part of the continent say that the lack of reliable electricity is a major constraint. Power outages cost African countries.... Read more »

Posted on : Thursday , 9th March 2017

Politicians who want to get elected in the August General Election should settle for a party that supports clean energy, a survey has shown.   According to the survey by Infotrack whose results were released on Monday, almost two-thirds of Kenyans (64 per cent) will "more likely" vote for a political party that supports clean energy.   Just over a third (36 per cent) either do not know (20 per cent) if they would back a.... Read more »

Posted on : Tuesday , 7th March 2017

Tanzania hopes to triple its power generation output by 2020, and boost access to the national grid.   Under the plan, the government hopes to increase output to 4,915MW from 1,501MW currently, and boost electricity connections to 60 per cent of the country's population of about 51 million people, from 36 per cent currently.   The plan will cost $11.6 billion in the short term and will be funded 70 per cent by debt, with government.... Read more »

Posted on : Saturday , 4th March 2017

East African countries are emerging among leaders on the continent when it comes to putting in place policies on access to energy, energy efficiency and investment in renewable sources.   According to a new World Bank report, Kenya, Tanzania and Uganda -- unlike many countries in sub-Saharan Africa -- are taking progressive measures which include: A dedicated budget for electrification, capital subsidies for utilities to provide.... Read more »

Posted on : Saturday , 4th March 2017

The Grand Ethiopian Renaissance Dam (GERD) power generation capacity has been upgraded to 6,450 MW.   The Dam was first designed to generate 5,250 MW. However, due to the upgrading made on the power plant, its generation capacity uplifted to 6,000 MW from 5,250 MW.   But six years later, the design has been made to add another 450 MW due to the improvements made on generators with local capacity, Communication and Information.... Read more »

Posted on : Wednesday , 1st March 2017

The Grand Ethiopian Renaissance Dam (GERD) possesses an invaluable and multi-faceted values and benefits to the peoples of Ethiopia. We may categorize those values and benefits in economic, social and political terms. The economic values are magnanimous. GERD can generate immense amount of hydro-power that can be sold here at home to each villages, towns and cities and abroad to different countries and hence can generate billions of dollars in.... Read more »

Posted on : Wednesday , 22nd February 2017

The State Minister in charge of Technical and Vocational Education and Training (TVET) Thursdaycalled on TVET institutions to partake in finding solutions to the country's energy deficit by producing graduates with the requisite skills to help address the current shortage.   He was speaking at Tumba College of Technology during a graduation ceremony for some 358 students who completed their studies in different courses, including.... Read more »

Posted on : Tuesday , 21st February 2017