Market News| Africa Business News

Banks back 1 000 MW coal fired power project in Kenya

Industrial & Commercial Bank of China (ICBC) and Standard Bank of South Africa have concluded a deal to finance a $2-billion, 1 000 MW Amu coal-fired power plant, in Kenya. ICBC, which has committed $1.2-billion to the project, has a 20% stake in Standard Bank, which will make available $300-million for the project. The coal plant is being constructed by a consortium of local and international firms under investment vehicle.... Read more »

Posted on : Tuesday , 9th August 2016

Tanzania to connect 1 mln households to power for $3 bln over 5 yrs

Tanzania plans to spend 7 trillion shillings ($3.21 billion) over the next five years to connect about 1 million rural households to electricity, a senior government official said on Monday. East Africa's second-biggest economy wants to use some of its natural gas reserves to end power shortages and boost industrial growth. "The five-year rural electrification project whose implementation starts in this 2016/17 government.... Read more »

Posted on : Tuesday , 9th August 2016

East Africa: Brazil Keen On Links With East Africa

Arusha — Brazil, an economic giant of South America, is keen to promote stronger economic ties with East Africa, its ambassador to Tanzania Carlos Alfonso iglesias Puente revealed here on Tuesday. "The Brazilian business community already has a significant presence in Tanzania and Kenya, especially in construction, energy and solid waste management sectors," he said during his visit to the East African Community (EAC).... Read more »

Posted on : Tuesday , 9th August 2016

Tanzania: Brazil Keen to Invest in Energy Sector

Brazil has expressed interest to invest in the country's energy sector, especially generating bioelectricity and hydropower. This was said in Dar es Salaam yesterday by the Brazil's Ambassador to Tanzania, Mr Carlos Alfonso Puente, during his meeting with the Minister for Energy and Minerals, Professor Sospeter Muhongo. Ambassador Puente told Prof Muhongo that his country has sufficient knowledge and experience in the.... Read more »

Posted on : Monday , 8th August 2016

France invests $37m in Kenyan power developments

On Monday, Kenya entered into an agreement with France for a sum of $37 million to facilitate the development of the east African country’s power sector through renewable power mini-grids. The French embassy in Kenya said in a statement: “This 33 million euro [$37 million] financing will support the installation of renewable energy generation units (primarily solar photovoltaic [PV], but also in some cases wind.... Read more »

Posted on : Monday , 8th August 2016

Chinese firm launches construction of Ethiopia-Kenya power project

A Chinese company has commenced the construction of a major power transmission line project which will link grids of Ethiopia with Kenya. The firm, China Electric Power Equipment and Technology (CET) announced it has launched the construction of the $ 1.26 billion mega project this week. The 500 KV transmission line which originates in Ethiopia’s Wolayita Sodo will have power transferring capacity of 2,000 MW and runs about.... Read more »

Posted on : Friday , 5th August 2016

Kenya: Chinese Firm to Establish Prepaid Power Meter Factory

A Chinese firm plans to construct a factory in Kenya for prepaid meters to supply power utility firms in East Africa as it eyes big cash from the expanding billing market. Kenya Power chief executive Ben Chumo says the firm has sought the electricity distributor's advice on how to align their production with local market specifications. Kenya Power has welcomed the move, citing lower costs for Kenyan made devices and employment.... Read more »

Posted on : Friday , 5th August 2016

Tanzania: REA to Electrify All Villages By 2021

Lindi — Rural Energy Agency (REA) plans to electrify a total of 7,500 villages by 2021, Minister of Energy and Minerals, Professor Sospeter Muhongo, has said. He said as the government embarks on REA phase three, which is expected to take five years, all villages in the country will be connected with electricity. REA phase three was launched on August 1, this year and that by 2021 there will be no single village in the.... Read more »

Posted on : Friday , 5th August 2016

Sh126b joint Kenya-Ethiopia power line begins

Kenya and Ethiopia have started the construction of a Sh126 billion power line that will run between the two countries. The 1,045 kilometre line will have a transmitting capacity of 2,000MW and is expected to be completed by December 2018. Kenya Electricity Transmission Company (Ketraco) said of the 1,045 km power line, 600km will be in Kenya, while 445 will be in Ethiopia. The line will traverse Marsabit, Samburu,.... Read more »

Posted on : Thursday , 4th August 2016

Kenya inks deal with France to boost electricity access

Kenya has inked a deal worth $37 million with France in a bid to add renewable power through mini grids. The deal is meant to boost electricity access to millions of Kenyans who are still not connected to the grid. “This 33 million euro financing will support the installation of renewable energy generation units (primarily solar photovoltaic, but also in some cases wind turbines) in 23 mini-grids currently powered by diesel.... Read more »

Posted on : Wednesday , 3rd August 2016

France lends Kenya sh3 7b for energy production

In a major boost to the country’s efforts to transition from dirty and expensive fossil fuel to clean energy, the wind and solar energy project is expected to reduce the average cost of electricity production by an average of 20 per cent. French Foreign Affairs Minister Jean Marc Ayrault, who is on an official visit to Kenya, witnessed the signing of the financing agreement at State House yesterday. The deal was signed by.... Read more »

Posted on : Wednesday , 3rd August 2016

Tanzania: Govt On Track to Power One million Villagers

Dar es Salaam — Over one million new customers are expected to be connected to electricity services in the next five years during the implementation of phase three of the Rural Energy Agency (Rea) project. The government will spend a total of Sh7 trillion to implement the project, according to Rea acting director general Boniface Nyamo-Hanga. Through the project, over 7873 villages will be connected to electricity.... Read more »

Posted on : Tuesday , 2nd August 2016