Market News Page No. 517| Africa Business News | Afrotrade

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Kenya seeks funds to grow power sector

NAIROBI – KENYA requires $2 billion (Sh182,5 billion) to generate an additional 5 000 megawatts of electricity in two years. The government would start initiating a proposed 960 MW coal power plant in Lamu before embarking on other power projects to produce 4040 MW to be added to the national grid. This, according to experts will help boost economic growth, job creation as well as lower the price of electricity. The East African.... Read more »

Posted on : Wednesday , 21st January 2015

Kenya: M-Kopa Solar Wins Sh133 Million Future Energy Prize

A Kenyan green-energy company has become the first firm in Sub-Saharan to win the Zayed Future Energy prize in the enterprise and SME category. M-KOPA Solar was announced the winner at the opening ceremony of the annual Abu Dhabi Sustainability Week. The Zayed Future Energy Prize brings with it a US$1.5 million (Ksh133 million) prize. M-KOPA Solar will use these funds to launch a training and development program called M-KOPA University, which.... Read more »

Posted on : Wednesday , 21st January 2015

Qalaa Holdings Invests in East Africa�

Egyptian private-equity company Qalaa Holdings SAE is investing $70 million to accelerate the movement of rail cargo carried from East Africa’s busiest port, as it faces competition from a new Chinese-backed link. Qalaa controls Rift Valley Railways Ltd., the operator of a railway built almost a century ago running from Kenya’s Mombasa port to neighboring Uganda. It covers a portion of the same route as a new rail line under.... Read more »

Posted on : Wednesday , 21st January 2015

UK based Company Looks at Investment To East Africa

Old Mutual PLC Friday said it is buying a 23.3% stake in Kenya-based UAP Holdings Ltd, an East and Central African financial services company, for KES8.88 billion, or about USD97.6 million, part of its strategy to expand in Africa. The acquisition comes as the FTSE 100 investment, savings, insurance and banking group looks to grow customer numbers in Africa, excluding South Africa, to 10 million by the end of the decade. In a statement,.... Read more »

Posted on : Wednesday , 21st January 2015

Tullow, Africa Oil to drill up to 6 basin openers in Northern Kenya in 2015

Tullow Oil and Africa Oil say they plan to drill 6 basin openers in North Western Kenya’s North Lokichar basin, Kerio basin as well as in North Turkana according to the latest presentation by Africa Oil. Of the six wells 4 of them are set to spud in Q1 including Epir-1 and Engomo-1 both of which have began drilling in North Kerio and North Turkana while North Samaki and Tausi in North Turkana and North Lokichar are both set.... Read more »

Posted on : Wednesday , 21st January 2015

Mtwara to Dar Es Salaam Gas Pipeline Project update

Completion and the commissioning of treatment plants natural gas – February 2015; Construction of Valve Stations 16 required for the entire pipeline will be completed at the end of January 2015; Construction of facilities receiving natural gas Mtwara, Somanga, Vote, Kilwa, Kinyerezi and Tegeta in Dar es Salaam will be complete at the end of January 2015; Work to make attempts to greater water pressure on Bomba.... Read more »

Posted on : Wednesday , 21st January 2015

Uganda: Germany to Fund Kabale Power Dam

Germany is to fund construction of the proposed 6.5MW Maziba hydroelectric power dam in the western district of Kabale, Prime Minister Dr Ruhakana Rugunda has said. Rugunda told residents of Kyanamira sub-county recently that a contractor had already been secured for the $12m (Shs 34bn) project on river Maziba, 10km east of Kabale town. A 1.6MW plant built at the site in 1966 was decommissioned in 2002. In 2009, a new positive feasibility.... Read more »

Posted on : Wednesday , 21st January 2015

East Africa potential LNG market for investors

Vast amounts. Mozambique alone is estimated to have gas reserves of up to 4.25 trillion cu/m and Tanzania potentially as much as 1.41 trillion cu/m (Petroleum-economist). But in a global economy where commodity prices, consumer demand and ‘timing to market’ are crucial, there is no guarantee that even these amounts can be commercialised in the foreseeable future. However, for both countries the prize is great. In an article written.... Read more »

Posted on : Wednesday , 21st January 2015

Solarcentury launches commerical solar arm for East Africa

Global PV developer, Solarcentury, is formalising its growing operation in East Africa by joining forces with Kenyan firm, East African Solar, to form Solarcentury in East Africa. The new company will deliver solar projects throughout East Africa, where solar is emerging as a promising alternative to expensive diesel-generated power. Both companies have solid experience of the nascent solar market in Kenya, having independently worked on.... Read more »

Posted on : Wednesday , 21st January 2015

East Africa: U.S.$500 Million Set for African Renewable Power

Dubai — Access Power MEA a power project developer for the Middle East and Africa, and EREN, a leader in renewable energy, last week announced the launch of Access Infra Africa, dedicated to investing in the early stage development of power projects in Africa writes JOHN SAMBO Access Infra Africa will be the largest privately funded vehicle of its kind. The partners intend to implement an ambitious development plan leading to the.... Read more »

Posted on : Wednesday , 21st January 2015

SolarNow looks to ride wave of East Africa�s solar boom

Dubai — Access Power MEA a power project developer for the Middle East and Africa, and EREN, a leader in renewable energy, last week announced the launch of Access Infra Africa, dedicated to investing in the early stage development of power projects in Africa writes JOHN SAMBO Access Infra Africa will be the largest privately funded vehicle of its kind. The partners intend to implement an ambitious development plan leading to the.... Read more »

Posted on : Wednesday , 21st January 2015

Kenya to revoke controversial mining tax

Less than a month after Uhuru Kenyatta was sworn in as Kenya's new president, his administration is planning to revoke rules passed in 2012, which impose 35% local equity shareholding in the country’s mining licences, reports Business Day. Unlike most African governments, Kenyatta’s is not seeking larger ownership stakes in foreign miners with the upcoming mining bill, which will eventually replace the existing, obsolete Mining.... Read more »

Posted on : Tuesday , 20th January 2015

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