Kenya Power's Debt Relief Plan
Kenya Power has secured debt relief from 14 lending institutions, looking to cut interest costs as it struggles with dwindling revenues. The power distributor now has access to a one-year [...]
Pandemic Pushes Oil Giant BP to $ 6.7 Billion Net loss
UK-based BP Plc posted a $6.7 billion net loss in the second quarter of 2020 and cut its dividend in half. BP, which is one of the world's most powerful [...]
Chevron and Exxon Record Losses in Q2 as Oil Demand Dips
Chevron and Exxon Mobil released their Q2 results on Friday that reveal the extent of the coronavirus pandemic on oil demand. The bloodbath witnessed in the oil sector has hurt [...]
Kenya Power Seeks to Hike Electricity Costs by 20%
Electricity distributor, Kenya Power, has announced plans to increase electricity prices by up to 20% and is already in talks with the Energy and Petroleum Regulatory Authority (EPRA) regarding the [...]Total Gas Project in Mozambique Raises $14.9 Billion in Debt Financing
Total's Liquefied Natural Gas project (LNG) in Mozambique has received $14.9 billion in debt financing. Export Credit Agencies who took part in the financing include UK Export Finance (UKEF), the [...]Diesel and Petrol Prices Up by KSh 17 and KSh 11 for July
Consumers will now pay KSh 100.48 for a litre of petrol and KSh 91.87 for a litre of Diesel in Nairobi, as petrol prices rise in July. A statement by [...]AfDB Invests $116 Million in Nedbank's SDG Linked Bonds
The African Development Bank (AfDB) has invested $116 Million in South Africa’s Nedbank SDG Linked bonds. Thebonds are under the green bonds segment at the Johannesburg Stock Exchange (JSE). [...]Jubilee Holdings Buys a KSh4.2B Stake in Bujagali Energy
Jubilee Holdings Limited (JHL) has purchased an additional 9.44 percent stake in Bujagali Energy Limited from technical partners SN Power for KSh4.2 billion ($40 Million). Consequently, the transaction increases Jubilee [...]Tensions Ease as Ethiopia, Sudan, Egypt to Agree to Fill GERD in Two Weeks
Egypt, Ethiopia, and Sudan have agreed to fill the Nile dam within two weeks following an agreement after meditations by the African Union. A statement from the Ethiopian Prime Ethiopia [...]Relief for Mumias Sugar as KSh 11 Billion Tax Bill Waived
The Government has waived KSh 11 billion in tax arrears owed by the debt-ridden Mumias Sugar Company. The information was disclosed by the Kakamega Governor Wycliffe Oparanya, while co-chairing the [...]Low Economic Activity Cuts Fuel Consumption
Low economic activity due to the COVID-19 Pandemic continues to lower fuel consumption, slumping demand for petrol, diesel, and jet fuel. Demand for Petrol and Diesel fell by 26.8%, and [...]Kenya Power Issues Profit Warning over Low Growth in Electricity Sales
Kenya Power has issued a profit caution, warning that the company's earnings will be lower than last years' because of low growth in electricity sales. A statement from the board [...]
