Market News| Africa Business News

Rwanda: Govt Slashes Power, Water Tariffs to Attract Industry Investors

The Government has slashed unit prices for electricity and rural water supply by 50 and 30 per cent, respectively, a move officials say will help increase affordability, service efficiency and competitiveness, among others. Effective January 1, 2017, electricity tariff for households that consume not more than 15 kilowatts per month, will be Rwf89, down from Rwf182, translating into a 51 per cent deduction from the standard.... Read more »

Posted on : Wednesday , 14th December 2016

Tanzania's First Wind Farm Project to Take Off in May 2017

Singida Wind Power project, which is the first wind farm in Tanzania is expected to begin from May, next year, after negotiations for power purchase agreement between the developer and the government are concluded. The Managing Director of Six Telecoms, which is among partners to the project, Rashid Shamte told reporters in Dar es Salaam yesterday that the PPA negotiations with TANESCO, Ministry of Energy and Minerals and Attorney.... Read more »

Posted on : Monday , 12th December 2016

Kenya Power Prepares $2 Billion Budget for Upcoming Mega Projects

Electricity distributor Kenya Power has prepared a $2.17 billion (Sh219.1 billion) budget for the implementation of capital intensive projects in the next five years. The utility firm, in its blueprint, states that the funds will be used to adequately supply power to 10.8 million customers by 2021, more than double the 4.8 million clients currently connected to the national grid. Kenya Power's plan covers five key projects --.... Read more »

Posted on : Monday , 12th December 2016

Kenya: Kengen to Invest in Renewable Energy Projects Worth Sh800 Billion

Nairobi — The Kenya Electricity Generating Company (KenGen) plans to add 721Megawatts (MW) of electricity from geothermal and wind sources to the national grid in the next five years at a cost of Sh800 billion. KenGen MD and CEO Albert Mugo, said the additional capacity was in line with the government's efforts to make power accessible and affordable. He said the company has already secured some funding from development.... Read more »

Posted on : Friday , 2nd December 2016

Rwanda: Private Players Key to Rural Energy Access - Experts

Community engagement and the private sector participation will go a long way in accelerating energy access to rural areas where people are not connected to the national grid, experts have said. They were speaking on Tuesday at the launch of findings from the feasibility study conducted by Energy Private Developers (EPD), an association of private energy providers, on how community participation can boost rollout of energy in rural.... Read more »

Posted on : Friday , 2nd December 2016

Kenya: Sh70B Wind Energy Project to Bring Down Power Costs

NAIROBI, KENYA: Kenya’s quest for cheaper power is beckoning with Sh70 billion Lake Turkana Wind Power (LTWP) project expected in the second quarter of 2016. Speaking during the Power in East Africa Summit, Phylip Leferink, and General Manager of the project said he is happy with the progress in the transportation of turbines to the site from the port of Mombasa and by between May and June the firm will be ready to add more power.... Read more »

Posted on : Wednesday , 30th November 2016

Rwanda: New Peat Power Project to Boost Power Generation Capacity By 40%

Rwanda's efforts to increase power access to 70 per cent of all households in 2018 have been boosted by the signing of a $350 million (about Rwf291.6 billion) financing deal between lenders and YUMN Limited to develop an 80MW peat-fired power plant. The project in Mamba Sector, Gisagara District will be funded by the Africa Finance Corporation, Finnfund, PTA Bank, Afrexim Bank, Development Bank of Rwanda, and Exim Bank of.... Read more »

Posted on : Tuesday , 29th November 2016

Ethiopia plans to harness 5,000 MW of geothermal energy

Ministry of Mines, Petrol and Natural Gas has made public Ethiopia’s plan to harness 5,000 Mega Watts (MW) of geothermal energy by 2037. The newly appointed Minister of the mnistry, Motuma Mekassa, said that Ethiopia is intensively working to developing renewable energy sources like geothermal energy and expand its partnership with other African countries while addressing the opening of the 6th African Rift Geothermal.... Read more »

Posted on : Friday , 25th November 2016

The State of Energy in Africa

Africa: a continent of vast natural resources is a continent woefully short of electricity. According to Mckinsey Global Institute's February 2015 report "Brighter Africa The growth potential of the Sub-Saharan electricity sector", access to electricity and the ability to consume electricity are two of the most crucial metrics that indicate the degree to which the power sector is supporting national development and the economic.... Read more »

Posted on : Friday , 25th November 2016

South Africa�s wind industry blows hot

South Africa has made huge strides towards creating a more renewable energy sector in a very short time, with an emphasis on wind power. Prior to 2015, South Africa was predominantly powered by thermal energy, in particular relying on coal plants. “Thermal power accounted for 87% of the total power installed capacity in South Africa in 2015,” explains GlobalData analyst Pavan Vyakaranam. “In terms of electricity.... Read more »

Posted on : Thursday , 24th November 2016

AFRICA - THE NEXT GROWTH MARKET

Africa is currently home to five of the fastest growing economies in the world. According to a global study, the continent's economy is forecast to grow to $2.6 trillion in 2020 from $1.6 trillion in 2008, fuelled by booms in mining, agriculture and development of ports, roads and other infrastructure. This rapid economic growth is what is creating substantial new business opportunities in the region. Over the past decade, Africa’s.... Read more »

Posted on : Thursday , 24th November 2016

Turkish Exporters Target Africa

At a time when struggling Turkish exporters are looking for ways to diversify their target markets, Africa is poised to become the new frontier market for Turkish firms as they position themselves to become major stakeholders in the region’s rapidly growing industries. Africa has recorded an annual growth rate of 5 percent over the last decade and is expected to continue this trend in the coming years. Six out of ten fastest growing.... Read more »

Posted on : Wednesday , 23rd November 2016