Kenya needs at least US $79.4m to repair roads that have been damaged by the ongoing heavy rains and floods.According to Transport Cabinet Secretary James Macharia, funds are required for immediate repairs of the roads across the country. “Now that the rains have subsided, we are going round the country to assess the roads,” said…
Details The Lagos State Government is now set for the commencement of the Embedded Power Supply Project by July 2018. It is targeted towards generating 3,000MW electricity for the State within the next three to five years. According to the Commissioner for Energy, Mr. Olawale Oluwo, the project when it takes off will start the journey…
Details An Urgent Call to Action for African Governments It is Africa’s solar power moment. African governments and Independent Power Producers (IPPs) recognize the incredible opportunity to overcome African electricity poverty by utilizing one of the continent’s most abundant natural resources — the sun. Solar power capacity comprises over 90 percent of an estimated 10 terawatts of sub-Saharan…
Details Tycoon Humphrey Kariuki’s Great Lakes Africa Energy (GLAE) has entered an agreement with the Mozambique government to generate electricity using natural gas for domestic use at a cost of Sh40 billion ($400 million). The UK-based pan-African energy solution firm develops and operates power projects in southern Africa. The agreement signed last Friday in Maputo will…
Details London-based private equity company Actis LLP will take an 88 percent stake in the 100-megawatt Kipeto Wind Power in Kenya after buying out most of the project’s other shareholders, one of the farm’s founders said. Kenneth Namunje said he and two partners at Craftskills Wind Energy International Ltd. will cede some shareholding to Actis and…
Details The risk of a reversal in the inflation drop that has characterised many of the biggest African economies in the last year, will likely mean a freeze on borrowing costs. Rate decisions across Africa in the next two weeks are likely to confirm the continent’s biggest economies have mostly ceased a wave of easing that’s…
Details Zimbabwe has signed a US $1bn deal with Sinosteel Corp in a development that will see the Chinese firm building a 400MW coal bed methane-fired power plant in Matabeleland North Province and setting up new ferrochrome smelters at Zimasco. During the signing ceremony, President Emmerson Mnangagwa revealed that the first phase of the implementation will involve drilling of…
Details Amid great fanfare 44 African countries signed the long-awaited African Continental Free Trade Area (CFTA) earlier this year. The bloc is expected to boost intra-African trade – pegged at less than 20% – by eliminating import duties and scaling back tariffs. If fully implemented, a market of 1.2bn people with a combined GDP of $2.5…
Details China’s largest state-owned aluminum producer is pushing further into Africa to secure supplies of raw materials used to make the metal. Aluminum Corp. of China Ltd.’s Hong Kong unit plans to invest as much as $164 million in the Boffa bauxite project in Guinea, which has a total cost of $706 million, Chalco said in…
Details Ivory Coast is set to construct a mega thermal power plant after a complete negotiations with the local unit of France’s Eranove SA over a US $530 m deal. That could result in expansion of the county’s generation capacity by 5%. The gas fired facility which will be owned by Cie Ivoirienne de Production d’Electricite,…
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