The first half of 2024 has witnessed a transformative surge in Kenya, marked by a 6% rise in renewable energy generation. This increase has led to lower electricity prices, signifying Kenya’s emergence as a leader in Africa’s renewable energy revolution and paving the way for a brighter, more sustainable future. Kenya has long been a…
Aliko Dangote, Africa’s richest man, announced his willingness to relinquish control of his $19 billion mega oil refinery in Lagos after a decade of ambitious construction. This 650,000-barrel-per-day giant, built to transform Nigeria’s fuel sector, now has an uncertain future and might bring in a new era of state control in the country’s energy industry….
Kenya’s Geothermal Development Company (GDC) is at the forefront of an initiative that promises to transform the nation’s energy landscape. This project focuses on unlocking the vast potential of geothermal energy, a clean and sustainable source with the power to propel Kenya towards energy independence, economic prosperity, and a greener future. Kenya currently faces a…
The financial sector is undergoing a significant transformation. Banks, once hesitant to move away from fossil fuels, are recognizing the urgency and potential of climate finance. Absa Group has extended its partnership with MIGA, a member of the World Bank Group, to strengthen its ability to invest in climate finance initiatives throughout Africa. African banks…
A fire incident erupted on June 26th, 2024, at the Dangote Refinery in Lekki, Nigeria. This comes just six months after the $20 billion facility, a major infrastructure project for the nation, commenced operations. While the Dangote Group swiftly contained the blaze, which originated at the effluent treatment plant, and no injuries were reported, the…
Kenyan businesses are feeling the pinch from a combination of rising global energy prices and escalating geopolitical tensions, according to a recent survey by the Central Bank of Kenya (CBK) and concerns echoed by Kenyan entrepreneurs. The CBK survey revealed that chief executive officers (CEOs) are primarily worried about these factors, alongside cyber risks. This…
Kenya’s economic growth is deeply intertwined with reliable and affordable energy. The recent rise in electricity costs serves as a stark reminder of the delicate energy balance the country faces. The 2.8% increase in electricity prices, coupled with the Fuel Energy Charge at Sh3.59 per unit, highlights the pressing need for a sustainable energy transition….
Leading oil and marketing company Vivo Energy Kenya took a bold step on June 10th, 2024, to shape the future of Kenya’s commercial road transport industry. The firm, well-known for distributing and marketing Shell products, convened a landmark conference in Mombasa. Titled “Fueling Discussions for Transformation,” the event served as a rallying cry for the…
Kenya has started an important program called the Last Mile Connectivity Program. This program aims to bring electricity to remote and poor communities. It will help close the gap in energy access and change the social and economic situation in the country for the better. The latest phase of this program involves a partnership with…
East Africa recently witnessed a dispute over fuel import fees, igniting a rift between Kenya and Uganda. The heart of the matter revolved around Uganda’s desire to bypass Kenyan middlemen and directly import fuel, aiming to alleviate their burden of holding the region’s highest fuel prices. Uganda, firmly believing Kenyan middlemen were artificially inflating prices, sought…
