Tanzania, Uganda top East Africa’s project funding needs for 2019

Feb 18, 2019

Tanzania and Uganda’s oil and pipeline projects will top this year’s infrastructure transactions in the region, with the two countries seeking over $7 billion funding for the projects, a new report shows. According to Debtwire’s Africa Project Finance Trend update for 2019, the oil and infrastructure sectors are the most likely to attract interest from…

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Malawi calls on bidders to express interest for solar PV tender

Feb 18, 2019

The Electricity Generation Company (EGENCO) of Malawi is calling on qualified bidders to expression their interests for a 10MW solar PV tender to be constructed in Salima. The plant may be scaled up with an additional 10MW capacity to 20MW. Scope of work for interested bidders includes conducting a feasibility study, designing, supplying, installing and…

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Sound Energy provides operations update for TE-10 well in the Greater Tendrara permit, Morocco

Feb 18, 2019

Sound Energy, the Moroccan focused upstream gas company, has provided a further update on operations in Eastern Morocco, following the Company’s announcements of 27 December 2018, 7 January 2019 and 28 January 2019. The Company previously announced a discovery, and a planned stimulated well test, at TE-10, the second well in Sound Energy’s current three…

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Tullow begins search for Kenya oil buyers

Feb 18, 2019

British oil exploration company Tullow has started the search for buyers of Kenya’s small-scale crude petroleum exports ahead of the first shipment expected in the next four months. The UK multinational, in a trading update filed Wednesday at the London Stock Exchange, said it had received interest from unnamed potential buyers of the commodity. “Tullow…

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Africa50 announces plans to invest in Madagascar’s power sector

Feb 18, 2019

At the AU Summit in Addis Ababa, Africa50, the pan-African infrastructure investment platform, announced that it will support power generation projects in Madagascar, one of its shareholder countries. During an audience with His Excellency Andry Rajoelina, President of Madagascar, the Chief Executive Officer, Alain Ebobissé assured him of Africa50’s commitment to support the country’s efforts…

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KenGen may raise funds from Kenya’s first green bond

Feb 18, 2019

THE Kenya Electricity Generating Company plans to raise funds from the market later this year and may opt to issue the country’s first green bond, its chief executive said. KenGen has a 1,631 megawatt annual capacity and supplies 70 per cent of the East African nation’s electricity. Private investors hold 30 per cent of the…

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Ghana’s oil production set to more than double in next 4 yrs – Minister

Feb 18, 2019

Mr Ken Ofori-Atta, the Minister of Finance has said the overall crude oil production from Ghana is expected to more than double over the next four years. “Overall, crude oil production is expected to increase from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023,” he said, adding that, the first…

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Dar es Salaam, Zanzibar residents to face power cuts

Feb 18, 2019

Residents of Dar es Salaam and Zanzibar will face power outage due to maintenance activities of three power generation machines at Ubungo II and Songas stations. The exercise will go together with the installation of a 300 MVA transformer at Ubungo power generation station to increase power supply capacity in order to meet increased demand.…

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Econet founder Masiyiwa says solar energy is the future for Africa

Feb 18, 2019

Econet founder Strive Masiyiwa says mini-power grids based on solar energy are the solution to Africa’s energy problem. Masiyiwa made the prediction at a global conference of investors in Abu Dhabi in the United Arab Emirates. “The technology for solar power and battery storage has reached a stage where the cost and capability will deliver…

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Africa50 to finance Rep. of Congo power plant

Feb 18, 2019

During the AU Summit in Addis Ababa, Africa50, the pan-African infrastructure investment platform, signed a Memorandum of Understanding with the government of the Republic of Congo to structure and mobilize financing for the expansion of one of its gas-fired power plants, the Centrale Électrique du Congo. The project entails expanding the plant’s capacity from the…

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