Economic Growth

Africa hotel room developments: Kenya suffers blow as it drops to seventh

Economic Growth April 3, 2024

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 …

Uganda National Oil Company begins fuel sales after Kenya fallout

East Africa March 23, 2024

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, …

SkyPower, AFC, and DRC join forces for $2.3Bn Green Giant project

Countries February 29, 2024

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 …