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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 …
The Djiboutian venture is part of KenGen’s ambitious diversification strategy, in which the company is seeking to acquire new revenue streams by offering commercial drilling services, geothermal consulting and other related services across Africa.
This is the third mega geothermal drilling contract that KenGen is implementing in Africa. In October 2019, the company secured a KSh 5.8 billion contract to drill 12 geothermal wells in Ethiopia.
The contract with Ethiopia’s independent power producer Tulu Moye Geothermal Operations (TMGO) PLC includes installing a water supply system and equipment.…
- The East African economic growth is projected to recover this year despite COVID-19 setback thanks to sustained public spending on infrastructure and improved performance of the agricultural sector
- The bloc’s growth is likely to reach an average of 4.1 percent this year, up from 0.4 percent posted last year
The East African economic growth is projected to recover this year despite the COVID-19 setback thanks to sustained public spending on infrastructure and improved performance of the agricultural sector.
This is according to a new report by the African Development Bank’s (AfDB) which indicates that the bloc’s growth is likely to reach an average of 4.1 percent this year, up from 0.4 percent posted last year.
In its latest economic outlook report for the region, AfDB shows that next year average growth is projected to hit 4,9 percent.
Further, the report reveals that COVID-19 containment measures and global supply and demand …
- KenGen has completed drilling the deepest geothermal well in Ethiopia reaching a depth of 3,000 meters
- This marks the second of eight geothermal wells KenGen has been contracted to drill for the state-owned electricity producer, Ethiopia Electric Power Company
- In February 2019, KenGen won a contract to offer geothermal drilling services for EEP in the Aluto-Langano geothermal fields in Ethiopia
Kenya Electricity Generating Company PLC (KenGen) has completed drilling the deepest geothermal well in Ethiopia reaching a depth of 3,000 meters, surpassing a target of 2,750 meters.
This marks the second of eight geothermal wells KenGen has been contracted to drill for the state-owned electricity producer, Ethiopia Electric Power Company which was delivered successfully amid the COVID-19 pandemic.
“We are happy to see our teams deliver the same level of success in the Horn of Africa as we do back home in Olkaria where we have also drilled several geothermal
… 
The pursuit of a greener earth and universal reliance on renewable presents a unique dilemma for countries in Sub Saharan Africa which rely heavily on energy provided by coal, shale, and other fossil fuels but also their economic livelihoods depend on the black gold.
The elimination of coal and related energy sources would severely prejudice economies that constitute SSA which are still developing or emerging.
It is against this background that the outgoing Chief Executive of the largest coal miner on the JSE, who is also the President of the Minerals Council is on record for saying that African countries should be allowed to make the transition from fossil fuels to greener renewable energies at their own pace. …
- President Uhuru Kenyatta said renewable energy currently accounts for 73% of Kenya’s installed power generation capacity
- The Kenyan leader called on the international community to invest more in research, innovation and technology transfer
- He also reaffirmed Kenya’s commitment to the below 1.5 degrees climate ambition, and announced the country’s endorsement of the proposed Glasgow decision on ‘power and green hydrogen in the energy sector’
President Uhuru Kenyatta has told the international community that Kenya is determined and on course to achieving full transition to clean energy by the year 2030.
The President noted that renewable energy currently accounts for 73% of Kenya’s installed power generation capacity while 90% of electricity in use is from green sources among them geothermal, wind, solar and hydro-electric installations.
“Renewable energy in Kenya currently accounts for 73% of the installed power generation capacity, while 90% of the electricity in use is from clean sources. We …
- Stanbic Bank, Stanbic Kenya Foundation and the German Development Cooperation have signed a deal to help MSMEs
- The partners say the Ksh 62million project seeks to support Micro Small and Medium Enterprises (MSMEs) to respond, restore and rebound from the effects of the pandemic
Kenya’s Stanbic Bank, Stanbic Kenya Foundation and the German Development Cooperation have entered into a partnership aimed at accelerating business recovery and growth of small enterprises post the Coronavirus Disease (COVID-19) Pandemic.
In a statement, the partners say the Ksh 62million project seeks to support Micro Small and Medium Enterprises (MSMEs) to respond, restore and rebound from the effects of the pandemic.
The partnership is under the Employment and Skills for Development in Africa (E4D) Programme commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by GIZ and Stanbic Kenya Foundation.
The business recovery interventions under the partnership will be provided …
