we examine the main challenges of investing in the power industry in Kenya before reviewing the opportunities that are also available to investors. Challenges Power Infrastructure Kenya’s demand for electricity should rise at an annual average of 7.9% over the next decade. Despite Kenya’s positive economic outlook, steady growth (5-7%
This week, an important meeting of the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) World Heritage Committee came to an underwhelming end; thousands of people across the world were hoping the Committee, in its 41st session just concluded in Poland, would live up to its mandate, prioritise culture over
Inevitably the pomp and chest-thumping of the launch of the standard gauge railway must give way to the reality of running it, and, of course, paying for its various costs. It is, therefore, a good time to reflect on a few of the facts and figures regarding the cost and,
President Uhuru Kenyatta returned from China’s “New Silk Road” summit with $3.7 billion loans to finance the standard gauge railway to Kisumu. This brings the Chinese loans for the project close to $9 billion, equal to the total foreign debt that he found when he took office. While in Beijing,
Kenyans pay high prices for electricity up to USD$0.19/kWh for residential customers compared to about US$0.10 in South Africa which is a barrier to the country’s sustainable economic development. The country is also expecting a steep rise in demand. To address this Kenya is modernising its electricity system and shifting away from costly diesel generators.
The African Development Bank (AFDB) has unveiled plan to invest $12 billion over the next five years under its new electrification programme. The fund will support its New Deal on energy for Africa which aims to achieve universal access to Africa by 2025. The plan was born out of the
Standard Bank – Africa’s largest bank by assets together with Industrial & Commercial Bank of China Ltd (ICBC) will finance a KSh200 billion($2Bn) towards Centum’s Amu Coal Power plant based in Lamu-Kenya. “Standard Bank and ICBC have concluded debt financing agreements with a consortium of Kenyan investors for the building
Source: Kenyan WallStreet Standard Bank – Africa’s largest bank by assets together with Industrial & Commercial Bank of China Ltd (ICBC) will finance a KSh200 billion($2Bn) towards Centum’s Amu Coal Power plant based in Lamu-Kenya. “Standard Bank and ICBC have concluded debt financing agreements with a consortium of Kenyan investors for the
Source: The East African In Summary The National Land Commission (NLC) has started taking over more than 869 acres of public land from squatters and private investors, paving the way for the finalisation of the Lamu power coal plant project. The construction of the 981.5MW plant was expected to start
Source: The East African In Summary Chinese firm has formed a joint venture with locally owned Great Lakes Corporation to form Fenxi Mui Mining Corporation and estimates 2016 as the earliest date that mining of coal could start. Chinese mining firm Fenxi plans to invest at least $500 million in exploitation