How Lower Demand, FX Distortions, Botched Kenya’s Oil Importation Deal with the Gulf
Kenya may be forced to pay Gulf oil companies ‘contingent liabilities’ after failing to honour minimum import volumes agreed upon in a government-to-government deal signed last year, the IMF said [...]
Brazil's Petrobas Pursues More Oil Gas Projects in Southern Africa
Brazil's national oil company Petrobas, is pursuing 10 oil and gas opportunities in Angola, Namibia, and South Africa. “As we increase production, we increase the need for reserves. Brazil has [...]
Demand for Petroleum Products Dips by 2% in 2024 EPRA
Consumption of petroleum products in the FY 2024 stood at 5.46 million cubic metres; a slight 2.1% decline from 5.57 million cubic metres in 2023 and 5.74 million cubic metres [...]AfDB Approves $8mn Loan for Zambia Solar Project
The African Development Bank Group (AfDB) has approved an $8 million concessional loan to support the construction of a 25MW Ilute Solar Photovoltaic plant in Zambia. This loan addresses the financial [...]China's Hexing Group to Invest KSh 1.29bn in Nairobi Assembly
Hexing Group, a Chinese manufacturer of power products, will investUS$10 million (KSh 1.29 billion) to establish a Nairobi-based assembly line for imported power products. “Hexing is excited to expand our [...]Kenya Power's Profits Soar Tenfold as Electricity Sales Rise by 21%
The strength of the Kenyan shilling for the most part of the year significantly reduced Kenya Power Lighting Company's (KPLC) finance costs, enabling the utility company to record a [...]Uganda-Tanzania Oil Pipeline Faces Funding Hitches
Climate activists opposed to the East African Crude Oil Pipeline (EACOP) have pressured six western banks to cease their funding pledges to the project, complicating its development. Now equity is [...]Kenya's Electricity Imports Soar by 86%
In the financial year 2023/2024, Kenya imported 1,199.8 GWh of electricity to offset demand and stabilize the grid. The highest import occurred in January 2024, totalling 142.25 GWh. The increase [...]BasiGo Raises US$38mn to Drive Expansion
Electric bus startup, BasiGo, has secured a US$17.5 million loan and US$24 million in equity funding from various investors to deploy over 1,000 electric buses across East Africa in the [...]Power Outages Rise by 21% in FY 2023/2024, Surpassing EPRA Limit
Electricity customers in Kenya experienced an average of 10.14 hours without power every month in the financial year ended June 2024, according to the regulator. “The SAIDI for the period [...]Power Prices to Rise Slightly in October- Regulator
The Energy and Petroleum Regulatory Authority (EPRA) has indicated that electricity costs for October will slightly rise after the foreign exchange fluctuation adjustment rose to 114.89 cents per kWh from [...]Kilifi Residents Protest KSh 500bn Nuclear Project Proposal
Residents in Kilifi county have protested against the proposal to build a nuclear energy plant in the area saying it would endanger their ecosystem, negatively affect their health, and [...]
