Kenya

Centum buys UK fund’s 37.5% stake in Akiira Geothermal

Centum Investment Company has bought out a UK renewable energy fund from Akiira Geothermal Limited, doubling its stake to 75% as it holds talks with potential investors to build a green power plant.

(Business Daily)

Tanzania

SGR in Tanzania: New voyage, new history

The spotlight is on the official launch of the much-anticipated Standard Gauge Railway (SGR) electric train services between Dar es Salaam and Dodoma, marking a transformative milestone for Tanzania’s transportation sector.

The new SGR electric train services signify a major leap forward in the country’s infrastructure, offering increased efficiency and connectivity. This modern rail link is set to revolutionise travel within Tanzania by significantly cutting journey hours and boosting economic activities across various regions. The SGR electric train service is expected to reduce travel time to three hours and 25 minutes.

(The Daily News)

Uganda

Uganda’s first e-mobility expo set for August 16 at Kiira Motors

Uganda’s first e-Mobility Expo and Kiira Vehicle Plant (KVP) Open House is set for Friday, August 16 2024, at the Kiira Vehicle Plant in Jinja.

Held under the theme “The Future is Green; The Future is Now”, the first-of-its-kind event organised by Kiira Motors Corporation (KMC) is designed to explore, showcase, and encourage the adoption of electric mobility solutions in Uganda.

The Kiira Vehicle Open House and e-Mobility Expo 2024 will gather over 200 industry leaders, potential customers, suppliers, policymakers, investors, innovators, and the public to discuss Uganda’s readiness to adapt to the e-mobility revolution – all towards positioning the nation as a net source of e-mobility solutions in Africa.

(The Independent)

Rwanda

Rwanda needs $3.4bn annual investments for economic transformation

Rwanda needs at least $3.4 billion annually for critical investments in structural transformation that would see the country achieving higher productivity and become a knowledge-based economy, according to the latest African Development Bank (AfDB) report.

The country focus report launched on July 31, titled “Driving Rwanda’s Transformation: The Reform of the Global Financial Architecture,” is in line with AfDB’s annual economic outlook report.

It assesses the experiences of individual countries in accessing finance necessary to fund their structural transformation and calls for an overhaul of the global financial architecture to help turn around African economies.

(The New Times)

Ethiopia

Ethiopia-China business forum aims to strengthen bilateral relations held in Addis Ababa 

The Ethiopia-China Business Forum was held on Wednesday at the Skylight Hotel in Addis Ababa in the presence of Ethiopian high-level officials and the business community, as well as members of the Ethiopia-China Friendship Committee.

The forum aims to strengthen relations through business and investment, State Minister of Foreign Affairs Ambassador Mesagnu Arga noted in his remarks, highlighting the recently signed All Weather Strategic Partnership and Chinese private sector FDI strides.

Ethiopia-China Friendship and Cooperation Committee Chair Betty Xu emphasised Ethiopia and China’s shared vision of industrialisation, highlighting significant investment opportunities in mining, energy, construction, manufacturing, and home appliances.

(Ena)