Market News| Africa Business News

Saudi Arabia Keen On Energy Deals with Ethiopia

A Saudi Arabian delegation visited GERD and received briefings on the construction of the dam. A high-level Saudi delegation visited the Grand Ethiopian Renaissance Dam (GERD) during its three-day state visit to Ethiopia and received updates by Project Manager Eng. Simegnew Bekele. The delegation, led by the Royal Kingdom of Saudi Arabia Court senior Advisor and Saudi Development Fund Board Chairperson Ahmed Alkhateeb, had.... Read more »

Posted on : Wednesday , 21st December 2016

Rwanda: Inflation Rate Drops to 6.4% in November

The National Institute of Statistics of Rwanda (NISR) monthly consumer price index (CPI) indicated that Rwanda's inflation rate eased to 6.4 per cent year on year in November, from 7.4 per cent recorded the previous month. Rwanda uses CPI to measure the average change over time of goods and services bought by households. The report shows that foodstuff prices were the main drivers of inflation during November, especially.... Read more »

Posted on : Wednesday , 21st December 2016

Rwanda: Govt Lays Down Ambitious Plans for Electricity Generation

Rwanda targets to extend power to at least 70 per cent of the households in the country by 2018. To achieve this ambitious goal, government projects to boost electricity generation to 563MW within the next two years. Presently, about 25 per cent of the Rwandan households are connected to electricity, while the country's total installed power capacity is around 190MW, an increase from 186MW in 2015. Despite this rise in generation,.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia: Multi Million Dollar Gibe III Hydropower Plant Begins Operations

Addis Ababa — Ethiopia inaugurated the $1.57 billion Gibe III hydro plant on River Omo on Saturday. The plant which is located 450km southwest of the capital Addis Ababa will increase Ethiopia's total electricity output to 4,238MW with 10 turbines installed, each with a capacity of 187MW. The plant is expected to supply both domestic and export markets. Gibe III is the third plant on the Gibe-Omo hydroelectric.... Read more »

Posted on : Tuesday , 20th December 2016

China Completes Ethiopia Hydropower Rehabilitation Project

Addis Ababa — China on Thursday handed over a hydropower plant rehabilitation project to Ethiopia. With an installed generating capacity of 6.6MW, the Aba-Samuel Hydropower Plant Rehabilitation Project was carried out in two years by PowerChina Huadong Engineering Corporation, for which the Chinese government provided a grant amounting to 95 million yuan (around 14 million U.S. dollars). Signing the document during the.... Read more »

Posted on : Tuesday , 20th December 2016

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