Market News

In a move to end power outages, Tanzania Electric Supply Company (Tanesco) is switching from hydroelectric power and diesel to gas for electricity generation for power generation. This is being achieved through a government investment of Tsh2.5 trillion ($1.25 billion). The funding is part of Tsh8 . . .

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 . . .

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 . . .