Market News| Africa Business News

Investing in Kenya key to East African Community Market - Envoy

Kenya has advised Zambian potential investors to take advatange of various investment opportunities in that country and gain access to the East African region. Kenyan High Commissioner to Zambia, Sophy Kombe said her country had many investment opportunities which made it a good choice for settlement. Ms Kombe said during the 15th anniversary celebrations of Davis and Shirtliff Limited in Lusaka at the weekend that investing in.... Read more »

Posted on : Monday , 29th February 2016

Egypt Opens talks with UAE, Saudi Arabia firms for Energy Deals

Egypt has opened talks with more than three energy companies based in UAE and Saudi Arabia aiming to counter the electricity crisis that the country now faces. Currently the country has signed various project that will see it produce up to 6,750 MW, reports have shown. According to reports the electricity talks valued at $7.5 billion, are at various stages of completion, and will finance the construction of three combined cycle.... Read more »

Posted on : Saturday , 27th February 2016

Largest Water Project to be Constructed by Kenya in Semi Arid Land

Kenya is constructing the largest water project in semi arid area that will supply water and electricity to millions of residents, Water Cabinet Secretary Eugene Wamalwa has announced. Thwake Dam at the confluence of Thwake and Athi Rivers will supply water to over one million residents of Machakos, Makueni and Kitui counties as well as generate 20 megawatts of electricity to power Konza Tech City in Makueni County. largest.... Read more »

Posted on : Saturday , 27th February 2016

EU funds �4.4m Zambia Power Project

The European Union (EU) has given Zambia 4.4 million Euros in a financial grant for the implementation of the electricity inter-connector project along with Kenya and Tanzania. Energy and Water Development Deputy Minister Charles Zulu said the three country-led power project was being funded by the EU in collaboration with the Common Market for Eastern and Southern Africa. Mr Zulu said the inter-connector project would help.... Read more »

Posted on : Wednesday , 24th February 2016

Turkish Company to construct a US$ 400m peat-fired power plant in East Africa

A US$ 400m peat-fired power plant is set to be constructed in Southern Rwanda by a Turkish company, Hakan Mining and Generation Industry and Trade Inc. The 80MW power plant is under a power purchase agreement (PPA) signed by the Rwandan government. The agreement gives them the go ahead to design, finance, build, own and operate the plant using peat extracted from south Akanyaru in Gisagara District. Hakan’s.... Read more »

Posted on : Wednesday , 24th February 2016

Tanzania & Uganda exploring Geothermal Projects to Plug Power Deficit

Uganda and Tanzania are set to begin generating electricity from geothermal resources to plug the supply deficit. In East Africa, Kenya is leading in power generation using underground steam. Green Impact Development Services (GIDS) is carrying out exploration and evaluation of geothermal resources with aim of developing a 100MW power plant at Buranga in western Uganda. The Tanzania Geothermal Development Company.... Read more »

Posted on : Wednesday , 24th February 2016

120 MW gas fired power station unveiled in Mozambique

Mozambique President Filipe Nyusi has officially inaugurated the 120 MW Gigawatt Park gas fired power station, in Ressano Garcia. The project was developed by Gigajoule International, a South African investment group and majority shareholder in the project and took 18 months to complete. The plant’s 13 generators of 9.3 MW each were manufactured by multinational corporation ABB and powered by Rolls-Royce engines..... Read more »

Posted on : Tuesday , 23rd February 2016

Japanese firm to construct Thermal power plant in Mozambique

Sumitomo Corporation, a Japan based firm is set to construct a thermal power power plant in Mozambique with future expansion plans in neighbouring Tanzania. Sumitomo aims to expand its power generation business in the African continent and has partnered with heavy industry group IHI on a $149 million order from Mozambique’s state-run electric utility for a natural-gas-fired plant to be built near the capital.... Read more »

Posted on : Monday , 22nd February 2016

Funding for Egypt's energy sector by African Development Bank hits $1.2bn

African Development Bank (ADB) has allocated finances estimated at US$1.2 billion to enhance Egyptian energy sector, Khaled El-Askari -principal energy officer at ADB- told Amwal Al Ghad Thursday. He stated that the bank is studying participating with US$100-200 million to finance establishing the power plant in Beheira governorate. On Wednesday, the Egyptian Cabinet endorsed the draft of President Abdel Fattah al-Sisi's decree.... Read more »

Posted on : Saturday , 20th February 2016

East Africa: Renaissance dam to be a souce of Energy once it meets the finish line

Ethiopia has announced that it will continue with the construction of the Renaissance Dam to its completion. The country’s minister of Water, Irrigation and Energy, Motuma Mekasa has told the media that there is no reason to halt the construction of the dam. Mekasa denied accusations that Ethiopia was derailing talks on the dam construction. He added that the delay on talks were due to differences that exist among the three.... Read more »

Posted on : Wednesday , 17th February 2016

Wind energy in Africa surges above1GW

A new report by Global Wind Energy Council (GWEC) shows a capacity increase in installed wind energy in South Africa to above 1 GW last year.Wind energy in South Africa This makes South Africa the largest producer of wind energy, followed by Morocco whose installed capacity stood at 787 MW in 201. Wind growth in South Africa has largely been inspired by Renewable Energy Independent Power Producer Procurement Programme, a.... Read more »

Posted on : Tuesday , 16th February 2016

Geothermal energy in Kenya boosts its export to Tanzania,Uganda

Electricity Utility firm Kenya Power which owns and operates most of the electricity transmission and distribution system in Kenya has announced that it has almost doubled its electricity exports to Uganda and Tanzania since it increased generation of geothermal energy in Kenya national grid. Official data reveals that the electricity distributor sold 46.6 million units (kilowatt hours) to the two countries last year, up from 26.9.... Read more »

Posted on : Monday , 15th February 2016