Market News
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Ghana government backtracks on power utility privatization
Posted on :Sunday , 21st December 2014
Ghana has admitted that it is privatizing the country's power utility as part of conditions to access foreign funding, barely six months after it dismissed reports about the move.
The government is holding a series of stakeholder meetings to consider concession or partial privatization of the Electricity Company of Ghana (ECG).
"Government is considering concession . . .
Ethiopia plans to expand energy and industry with Eurobond funds
Posted on :Sunday , 21st December 2014
Ethiopia plans to expand industry, sugar factories and power production using proceeds from its oversubscribed debut Eurobond that raised $1 billion, the finance minister said on Tuesday.
Ethiopia is the latest African state to receive a strong response on its first foray into the international debt markets. Investors have been eyeing Africa's sturdy growth rates and Ethiopia's economy . . .
Kenya to Develop Africa s Largest Wind Project
Posted on :Friday , 19th December 2014
Kenya may soon be home to the largest wind project on the continent of Africa.
Danish wind company Vestas won a contract to provide 365 turbines for a 310 megawatt wind power project in Kenya. The Lake Turkana Wind Power project will be the largest of its kind in Africa, and is expected to generate 15-20 percent of Kenya’s electricity needs when completed. According to project dev. . .
Zambia, Kenya and Tanzania sign US$1.2bn MoU for power interconnectivity
Posted on :Friday , 19th December 2014
The governments of Zambia, Kenya and Tanzania have signed an MoU for US$1.2bn to for a power interconnector project between the three countries.
The upcoming project would link the Eastern African Power Pool with the Southern African Power Pool.
Christopher Yaluma, minister of mines, energy and water development in Zambia said the agreement signed would set out principles that. . .Kenya Power tenders for Sh10bn street lighting
Posted on :Friday , 19th December 2014
Kenya Power will Tuesday begin the search for suppliers of street lighting material, bringing a Sh10 billion project to light up Nairobi closer to reality.
The electricity distributor plans to install 54,029 street lights in several parts of the city. It has already received the first tranche of Sh381.2 million from the Treasury to kickstart the project.
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