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Kenya Poised To Be Petroleum Giant

New Energy CS Davis Chirchir has said Kenya is poised to be the region's next petroleum giant following heavy investments.  Chirchir said construction of the Sh40 billion New Kipevu Oil Terminal (KOT 2) is a game changer for the country, especially the energy sector. He said the government is considering investments in storage and evacuation to match the capacity of the new facility. The CS, who was in Mombasa on a familiarisation tour of KOT 1 and 2  and the.... Read more »

Posted on : Thursday , 12th January 2023

World Largest Oil Firm Aramco Enters Kenya through Buyout

The Competition Authority of Kenya (CAK) gave Aramco Overseas Company, the investment arm of Saudi Aramco, the nod to acquire the Kenyan operations of VGP Holdings as part of the global deal worth $2.65 billion.The acquisition looks set to trigger shifts in Kenya’s fuel lubricants market that is currently dominated by multinational firms such as Vivo – seller of Shell products —, Total Energies and Rubis. Saudi Aramco is the largest oil company in the world and the second.... Read more »

Posted on : Thursday , 12th January 2023

KENYA: Berlin Grants Euro 112 million for Renewable Energy and Green Hydrogen

Kenya and Germany are stepping up their energy cooperation. Berlin wants to rely on hydrogen for its energy transition and replace Russian gas. And as part of this policy, Germany wants to support Kenya in developing new sources of clean energy, including green hydrogen. Like Namibia, where Germany is supporting the production of green hydrogen and its derivatives, Kenya has enormous potential for renewable energy. The East African country already has one of the most diversified.... Read more »

Posted on : Wednesday , 11th January 2023

KENYA: ElectriFi Invests $3m in Solar Energy Provider Solarise

Solarise Africa is again getting funding from the Electrification Finance Initiative (EDFI ElectriFI). The European Union (EU)-funded facility, managed by EDFI Management Company, is injecting $3 million into the South African company’s capital to expand its operations in Kenya. In the East African country and elsewhere on the continent, the company finances and builds solar photovoltaic power plants that are then leased to commercial and industrial customers to secure their.... Read more »

Posted on : Wednesday , 11th January 2023

ETHIOPIA: 4th Resource to Assess Geothermal Resources in Two Regions

Canadian company 4th Resource has been awarded a licence by the Ethiopian authorities to conduct geothermal surveys in 2 regions. The planned studies will measure the intensity of the geothermal resource with a view to developing this renewable energy in Ethiopia. Ethiopia wants to increase the share of geothermal energy in its energy mix. As part of this policy, the Ethiopian Ministry of Mines is granting a geothermal reconnaissance permit to 4th Resource, a company based in.... Read more »

Posted on : Monday , 9th January 2023

TANZANIA: Julius Nyerere Hydroelectric Dam Impoundment Launched

Tanzanian authorities are launching the filling of the reservoir of the Julius Nyerere hydroelectric dam on the Rufiji River. The facility will power the turbines of a 2,115 MW hydroelectric plant, one of the largest in East Africa. News on the Rufiji hydroelectric project in Tanzania. Authorities in the East African country are beginning to impound the dam, which is being built in the heart of the Selous Game Reserve in the Pwani region, about 220 km by road southwest of the.... Read more »

Posted on : Monday , 9th January 2023

Tanzanian Ministry of Health's partnership to provide sickle cell patients with high-quality care

To guarantee sickle cell sufferers receive top-notch medical care, the Ministry of Health has partnered with other healthcare organisations. Through neonatal screening, treatment, and increased public knowledge, the Public Private Partnership (PPP) with some organisations, such as the Tanzania Non-communicable Diseases Alliance (TANCDA), aims to reduce the number of infant fatalities from Sickle Cell Disease that can be avoided. During the recent 4th National Scientific.... Read more »

Posted on : Tuesday , 27th December 2022

Kenya and the Netherlands improving access to healthcare through bolstering health systems

14 Dutch companies are travelling to Kenya to increase private sector Dutch involvement in Kenyan healthcare. to interview decision-makers, businesses, and academic institutions in order to thoroughly research Kenya's healthcare system. Additionally, by going to different hospitals and other medical facilities in Nairobi and Kisumu. The tour will assist these companies in locating market prospects and, with any luck, result in numerous productive Kenyan-Dutch collaborations in the.... Read more »

Posted on : Tuesday , 27th December 2022

Boost in Tanzania's ports operations as trade elevates

In the recent fiscal year, cargo handled by Tanzanian ports climbed by 14.9% to 19.8 million tonnes as businesses recovered from the Covid-19 outbreak as a result of better port infrastructure. The country's cargo handling increased from 17.19 million tonnes in a comparable period the previous year to 19.8 million tonnes in the year to June 2022, according to the Bank of Tanzania (BoT). According to the central bank's consolidated zonal economic performance report for the.... Read more »

Posted on : Tuesday , 27th December 2022

Ethio-Russia Joint Ministerial Commission Meeting in Addis Discusses Trade and Scientific Cooperation

The Ethiopian Ministry of Foreign Affairs in Addis Abeba opened the 8th Joint Ministerial Commission (JMC) meeting between Ethiopia and Russia. The three-day joint ministerial commission conference covered topics pertaining to economic, scientific, technical, social, and commercial issues between the two countries, according to MoFA. High-ranking representatives from the two nations attended the meeting's opening, including Evgeniy Petrov, the head of the Russian.... Read more »

Posted on : Tuesday , 27th December 2022

Investing in Africa is a wise business decision and a long-term company strategy.

Now is the best time to make an investment in Africa. However, because overseas investment choices are frequently painstakingly overstructured, investors have not rushed to the region as quickly as expected. An important contributory component is too much risk. However, risks and profits go hand in hand; high-risk undertakings are typically correlated with larger earnings. The world's most profitable continent is Africa. According to a report by the UN Conference on Trade and.... Read more »

Posted on : Tuesday , 27th December 2022

The World Bank's IFC has invested Sh40 billion for the Nairobi-Mau Summit Highway.

The move is probably going to help the Sh190 billion project get extra money. The Sh190 billion Nairobi-Mau Summit Highway has received a financing commitment from the International Finance Corporation (IFC), a division of the World Bank, in the amount of Sh40 billion (USD 320 million). The international financier is anticipated to approve the release of the money in the fiscal year 2023–2024 after publishing the project's environmental and social impact assessment (ESIA).... Read more »

Posted on : Tuesday , 27th December 2022




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