Market News Page No. 66| Africa Business News

RWANDA: An Initiative To Promote The Financing Of Off-Grid Systems In Local Currency

Investments in renewable energy have increased tenfold in Rwanda in the recent years. According to the European Union GET.invest programme, these investments have been made more with international capital and foreign currency. “Local currency financing is one of the missing links to boost investment flows into renewable energy,” says GET.invest. The programme is supported by donors including the European Union, Austria, Germany, the.... Read more »

Posted on : Friday , 17th September 2021

Africa Oil Updates Project Oil Kenya with a Higher Plateau Production Rate and an Independent Resource Evaluation

Africa Oil and its JV partners (Tullow Oil and Total Energies) have completed the redesign of Project Oil Kenya over the last year to guarantee that it is technically, financially, and environmentally sound. With a projected gross oil recovery of 585 million barrels of oil ("MMbbl") during the life of the field1, a higher oil production plateau of 120,000 barrels per day is now planned. This resource position has been audited by external.... Read more »

Posted on : Thursday , 16th September 2021

East African Energy sector boosted by recent positive global investments

The East Africa region is increasingly becoming an area of interest in the eyes of international investors in energy projects from around the world. The recent substantial FDI influx in the East African energy sector has re-ignited the global appetite resulting in the rising number of delegates exploring the region through channels like the 9th Power and Energy Africa exhibition in Kenya and Tanzania. East African countries like Kenya,.... Read more »

Posted on : Monday , 13th September 2021

East Africa's Energy Future Shines Bright - Investors Are Keeping a Close Watch

The eyes of international oil and gas investors are becoming increasingly fixed on Africa as an area of development, and on the East Africa region in particular – with good reason.“It’s no secret that the East African oil and gas sector has recently benefited from substantial FDI,” says Paul Sinclair, Vice President of Energy at Africa Oil Week (AOW). “These regional investments have reignited global appetite for East Africa, and.... Read more »

Posted on : Monday , 6th September 2021

Africa Needs a Clean and Just Energy Plan

Friends of the Earth Africa has launched 'A Just Recovery Renewable Energy Plan for Africa' which offers a practical and much-needed opportunity to change the trajectory of energy development, distribution, and access on the African continent. The report stresses the urgency to democratize energy systems, reduce the power of transnational corporations and enable peoples and communities to access sufficient energy to live a dignified life."It is.... Read more »

Posted on : Monday , 6th September 2021

$1.2 billion of active power projects in Rwanda

Rwanda has set 2024 as a target date to reach the goal of 100 percent access to power for its entire population. Consequently, the small nation has more than $1.2 billion of active power projects.Rwanda’s population will grow by 25 percent over the next decade to reach 16 million people. In order to provide access to the growing population and make up for the current shortage of power, the country has embarked on various power generation.... Read more »

Posted on : Monday , 6th September 2021

Zanzibar Domino Commercial Tower the largest hotel in East and Central Africa

Zanzibar has announced plans to construct Zanzibar Domino Commercial Tower, the largest hotel in East and Central Africa and also the second tallest skyscraper in Africa behind Iconic Tower in Egypt.A contract was inked between New York and Dubai-based architect xCassia and a joint venture of Tanzania's AICL Group and Edinburgh Crowland Management Ltd that will see the latter come up with architectural designs for the project.The project which.... Read more »

Posted on : Thursday , 2nd September 2021

Tanzania Is Going Solar With AFD Support

In the Kishapu District of Shinyanga Region, TANESCO will implement the 1st large scale PV Solar Power Plant of Tanzania. It will be the 1st and certainly not the last. According to the International Energy Agency, in Africa, solar PV is becoming the “new king” of electricity and is forecasted to be the fastest growing source of power generation in Africa by year 2040. Production which is based on solar has become one of the.... Read more »

Posted on : Wednesday , 1st September 2021

NTPC Gets Contracts To Help Set Up Solar Projects Abroad

India's strategy of showcasing its green energy credentials abroad has gained traction, with state-run NTPC Ltd securing a raft of project contracts under the aegis of the International Solar Alliance in Cuba, Niger and Malawi to help set up solar projects to meet their electricity demand, said 2 people aware of the development. NTPC has been awarded the project management consultancy (PMC) contract for setting up 900 MW solar projects in.... Read more »

Posted on : Friday , 3rd September 2021

Kurasini Industrial, Logistics Park Project Up For Grabs

The government has finally floated a tender calling for competent strategic investors to develop the Kurasini Industrial, Trade and Logistics Park project on a standard lease arrangement. "The authority now invites eligible local and international real estate developers or consortia to submit their expression of interest to develop the project," said Export Processing Zone Authority acting director general John Mnali in an advert seen by.... Read more »

Posted on : Friday , 3rd September 2021

Kenya's External Trade Hits KSh1.4 Trillion in H1 2021

Kenya's external trade value hit KSh1.4 trillion in H1 2021, a 24.3 per cent increase from KSh1.094 trillion in H1 2020. The rise in external trade is attributed to a rebound in global and macro-economic conditions as the world re-emerges from COVID-19 related disruptions. Imports into the country rose by 27.7 per cent to hit KSh991.5 billion, while exports rose by 16.3 per cent to hit KSh368.7 billion. Food and beverages accounted for.... Read more »

Posted on : Wednesday , 29th September 2021

Rwanda has launched a Rwf690 million project to manage single-use plastics.

In the next five years, the Private Sector Federation (PSF) plans to contribute Rwf690.9 million to the collection, transportation, disposal, and recycling of single-use plastics. As Rwanda commemorated World Environment Day, the "Sustainable Management of Single-Use Plastics Project" was inaugurated. The theme of the day was "Ecosystem Restoration." The new development is in accordance with Law N° 17/2019, which prohibits the.... Read more »

Posted on : Friday , 27th August 2021