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Economic Growth
- New hotel room developments in Kenya have dropped.
- With continued signing activity (19 hotels with about 5,200 rooms in 2023) Egypt now accounts for 28 per cent of the total pipeline.
- When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built.
Kenya has ranked seventh in Africa among the countries with the highest number of hotel room developments by international hotel chains, a drop from position five in 2022.
This is according to the latest survey by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF). From the survey, Kenya has 31 hotels with a total of 4,268 rooms on the pipeline with an average room size in these hotels is approximately 138 square feet.
North Africa continues to dominate the planned supply, with Morocco and Egypt together comprising almost 31 per cent of the …
- The Uganda National Oil Company (UNOC) is directly importing petroleum products from Vitol Bahrain, aiming to reduce reliance on Kenyan firms and mitigate high fuel prices.
- UNOC’s direct importation and sale of fuel to OMCs in Tanzania and Uganda is a significant step towards fostering stronger regional ties, promoting economic growth, and ensuring energy security.
Uganda National Oil Company (UNOC) has started the sale of petroleum products to oil marketing companies in both Uganda and Tanzania.
This is part of a broader strategy to test the waters before UNOC embarks on a direct importation agreement with the global oil titan, Vitol Bahrain. This maneuver signals a new era in East Africa’s energy dynamics, especially following a cooling of relations between Uganda and Kenya over fuel supply mechanisms.
Breaking New Ground: Uganda National Oil Company Direct Importation Deal
For years, Uganda’s fuel supply chain was heavily dependent on Kenyan OMCs. However, …
- The joint development of the Green Giant Project will expedite the construction of the first 200MW phase of the investment.
- Mini-grids account for more than half of all new connections in DRC.
- The agreement represents a significant milestone in the collaborative efforts between SkyPower, AFC, and the DRC.
The Democratic Republic of Congo (DRC), Africa Finance Corporation (AFC) and SkyPower Global have entered into a joint development agreement for the first phase of SkyPower’s Green Giant project in the mineral-rich country.
The move is meant to promote the use of renewable energy in the Eastern African state. This 200MW Phase one is a crucial step towards achieving the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).
The partnership brings together SkyPower’s extensive experience in developing large-scale solar projects and AFC’s successful track record of de-risking and funding well-structured power …
On its portfolio, EDF has already secured ten projects with leading Kenyan companies and implemented its solutions in the health sector.…
The low-average income and the lack of a sizeable middle-class population are the major reasons for this limited growth.
In addition, the high lending rates have made ownership of a car restricted only to the wealthy and prosperous.…
Trade in the energy sector in Africa will be more lucrative to foreign and local investors if they identify that energy trading within the African continent is a low cost and high return venture less expensive but with high returns. …
Africa’s post-Covid-19 growth recovery and economic prosperity are dependent on renewable energy which will be a critical driver.
According to International Energy Agency data, scaling up Africa’s capacity to achieve universal access to energy by 2030 would require over US$100 billion per year. Of this amount, 40 per cent would be dedicated to solar, wind, and other low-carbon power generation projects.
There are a number of initiatives meant to accelerate electrification on the continent among which is the African Development Bank (AfDB)’s New Deal on Energy for Africa which is a transformative partnership-based strategy that aims to increase access to energy for all Africans.…
Creative industries are a job multiplier in Africa and generate US$4.2bn in revenue across the continent. …
African designers have to adapt and invest in technology to help grow the continent’s fashion entrepreneurship.
With the Covid-19 pandemic, there has been a notable acceleration in consumer shifts and digital trends that were in motion prior to the crisis.
To maintain the momentum and to grow the multibillion-dollar industry further, fashion entrepreneurs must take advantage of fashion-enabling tools at their disposal. E-commerce, artificial intelligence, augmented reality and digital printing are tools that will shape the future of the fashion industry in Africa, according to Vanessa Moungar, Director of the Gender, Women and Civil Society Department at the African Development Bank (AfDB).…
