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Kenya, East Africa’s largest and most advanced economy is currently the leading region exploring and installing geothermal energy capacity (standing at 676 MegaWatts, 2019) according to ESI Africa, hence Kenya is seeking to expand its geothermal mastery.
On a larger scale, the geothermal technology is rather at an initial phase in Africa, as developed nations take the lead, including high-installed capacities in the US with more than 3.8 gigawatts, according to Power Technology publication.
Kenya Electricity Generating company has taken its interest to another level, as it seeks to raise at least $1.95 billion to build new and upgrade existing plants “in a bid to almost double its output from the renewable fuel” according to information from Bloomberg News.
The Kenyan power company ambitions will make Kenya a competitive powerhouse, as the country has a total installed capacity of 2.4GW, the stated-owned company anticipated to sweep more than 651 megawatts …
United States (US) investments in Egypt totals to $21.8 billion over the past 12 months according to
US investments in Egypt totalled $21.8 billion over the past 12 months according to Egypt’s Minister of Trade and Industry, Nevine Gamea. The investments are in sectors such as tourism, agriculture, service, industrial, construction, telecommunications and information technology.
The minister also added that the trade exchange between the US and Egypt reached $8.618 billion in 2019 compared to $7.53 billion in 2018.
Gamea’s remarks came during a meeting with a delegation from the US Department of State headed by Keith Krach, Under-Secretary of State for Economic Growth, Energy and the Environment who were in the country to discuss joint economic cooperation.
She also noted that economic relations between the two countries are strategic, based on a long history of joint cooperation in various commercial, industrial and investment fields …
While most African countries are bearing the brunt of the US-China trade war as well as a slump in commodity prices which is greatly affecting exporters, East Africa economies have remained resilient.
This is on the region’s economic diversity which is playing a key role in cushioning the region from shocks, the latest report from ICAEW – the Institute of Chartered Accountants in England and Wales – Economic Update: Africa Q3 2019 indicates.
The report provides GDP growth forecasts for various regions including East Africa which is set to grow by 6.3 per cent, West and Central Africa at 3.4 per cent, Franc Zone at 4.7 per cent and Southern Africa at 1.3 per cent.
The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, outlines how East Africa’s growth is mainly driven by strong performances in the two major economies, Kenya and Ethiopia.