Market News| Africa Business News

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

Kenya, France Sign Sh3.6bn Deal for Northern Kenya Power Grid

Nairobi — Kenya and France Monday signed a deal of Sh3.63 billion for power grids in Northern Kenya counties, boosting the government's efforts to provide affordable power to all Kenyans. President Uhuru Kenyatta and French Foreign Minister Jean-Marc Ayrault witnessed the signing of the Credit Facility Agreement at State House, Nairobi. The deal will provide funds for a mini-grid retrofitting project that will be.... Read more »

Posted on : Tuesday , 2nd August 2016

Tanzania power line to be ready by 2018

Tanzania plans to enter into power trade agreements with East African Community member states after completion of the 400 kilovolt backbone transmission line, set to be completed in the next two years. Tanzania’s Minister for Minerals and Energy Sospeter Muhongo said last week that the initial phase $453.7 million power project extending for 670 kilometres from Iringa in the southern highlands of the country to Shinyanga on.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya: Sh4 Billion Network Upgrade Planned As Power Lines Go Underground

Kenya Power is set to roll out a massive electricity grid modernisation plan in major towns to stabilise power supply as more customers are hooked to the main network. An elaborate plan seen by the Nation will see the network within Nairobi and its outskirts taken underground. The five year plan running until 2020, will cost Sh4 billion with Upper Hill and Westlands targeted as the city expands and overhead wires become hard to.... Read more »

Posted on : Tuesday , 2nd August 2016