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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 …
China Development Bank
The Zambian government announced an agreement with the China Development Bank (CDB) to defer a loan repayment that fell due in October 2020. The terms of the deal include a halt on interest payment for six months, with payment of interest expected to resume in April 2021. The principal due was also postponed and will be rescheduled over the entire loan period. Chinese lenders are not known for their flexibility which is why the deal comes as a welcome shock.
I’m glad to learn that China Development Bank has reached a debt deferral agreement with Zambia. This fully shows that in addition to official creditors, other Chinese financial institutions are also actively resolving the debt issue of Zambia and other African countries.
Wu Peng, Director-General, Department of African Affairs, MFA, China on Twitter
The government did not, however, disclose the size of the debt or the …
E-barriers are even more cumbersome than barriers to physical trade…
East Africa Data Centre (EADC) Asset Company has finalized a $1.2Million investment in design, installation, and maintenance of commercial and industrial solar systems conducted jointly with Distributed Power Africa (DPA) and Mettle Solar.
EADC is a subsidiary of Liquid Telecom and is Kenya as well as Africa’s first and largest network of an interconnected, carrier, and cloud-neutral data center facilities. It is part of Africa Data Centres, a chain of data centers spread across Africa with hubs in Johannesburg, Kigali, Nairobi and Harare.
DPA AND Mettle Solar’s partnership seeks to provide solutions to industries in Africa looking to meet their technical and financial challenges while investing in renewable energy. The solar plant will enable EADC to significantly lower their overall energy costs whilst at the same time reducing their carbon footprint.
“We are excited to have a DFI-backed company like Mettle, as a co-investor alongside DPA. With sub-Sahara Africa experiencing …
The services sector registered a majority of 25 projects followed by the manufacturing and export trade sector with 21 and 11 projects respectively…
The vulnerability of Kenya’s food system has been exposed through the Covid-19 pandemic.…
Agri-SMEs in East Africa face an acute need for finance tailored to their specific requirements.…
