Market News

African Development Bank President Akinwumi Adesina, who took over this month, said he’s aiming to eliminate Africa’s energy deficit by 2025 by mobilizing $55 billion of investment. Termed the “New Deal for Energy in Africa,” the continent’s largest development bank . . .

 The  construction of the US$ 18m Muvumbe Hydro-power Dam in Uganda has kicked off. Located in Kabale District, Kigarama village in Nyanja parish, Maziba Sub-county, The mega project will be constructed by Vidullanka PLC from Sri Lanka.   The ground breaking of this important projec . . .

Kenya will get the first 90 megawatts from Lake Turkana Wind Power project in 2016 when the first production will be loaded onto the national grid. The biggest wind farm in sub Saharan Africa will run into full capacity in April 2017 transmitting a total of 310 megawatts to the national grid thro . . .

KIGALI, Rwanda - Rwandans will soon benefit from a project that generate electricity from heating methane gas on a floating platform. The project is being done in two phases and contracted to KivuWatt, a subsidiary of ContourGlobal. Recently the company announced in the local media that compl . . .

 The African Development Bank (AfDB) has approved a US$121mn loan and grant to assist the government in improving electricity access for businesses and in rural households. powerlinenigeria pixabayOnly 14 per cent of Uganda has proper access to power, and AfDB hopes to increase that percentage . . .