Kenyan government signs memorandum of understanding with London Stock Exchange. Photo - LSE
Kenyan government signs memorandum of understanding with London Stock Exchange. Photo - LSE

London Stock Exchange To Attract Investment For Kenya’s Energy Industry

By Peter Pedroncelli, 5:44 am

The London Stock Exchange has committed to raising capital for Kenya’s energy industry, with the first ever memorandum of understanding signed between the London bourse and the East African government. The agreement was signed by Charles Keter, Kenyan cabinet secretary for energy and petroleum, and Nikhil Rathi, chief executive officer, London Stock Exchange plc. The memorandum sets out the commitment from both sides regarding the raising of funds to benefit the country’s energy industry, through public market equity and debt listings.

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    Ivory Coast is planning to build a new solar power plant in the north of the country in order to ease pressure on its already overtaxed power grid. The 25 MegaWatt solar power station will provide further electricity supply to the strained grid in the West African nation, which typically relies on gas and oil-fired thermal plants to produce energy. At a cost of $40 million, the power station will be built by Korhogo Solaire, a subsidiary of Morocco’s Nova Power, and it is expected to be complete by 2018.

  • 12 Tech And Telecoms Companies That Inspire Africa

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    Tech companies continue to inspire Africa and Africans through their unique service offering to the continent and the way in which they enhance people’s lives. From renewable energy to telecoms and other tech firms, African consumers are benefiting from a growing tech sector throughout Africa, and certain companies are making waves as inspirational businesses contributing to better lives for the people they serve. Here are 12 tech and telecoms companies that continue to inspire Africa.

  • Will Kenya’s Konza Techno City Ever Get Off The Ground?

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  • Rwanda Partnering With Nokia And SRG To Deploy Smart City Technology

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    The Rwandan government will be working with Finnish mobile giants Nokia and local company SRG in the deployment of smart city technology solutions throughout the country. Nokia’s advanced capabilities in this arena will be used to deliver a secure and effective smart city solution for the East African nation, which will include a mission-critical access network, IP and cloud core networks, and Nokia’s ‘impact platform’, which will enable numerous applications related to the internet of things (IoT).

  • Nigeria To Invest In Expanded Electricity Generation With $5.2B World Bank Loan

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    Nigeria is looking to invest in plans to expand electricity generation and capacity with a proposed $5.2 billion loan from the World Bank, thereby boosting economic recovery following the country’s first contraction in a quarter of a century. Nigeria’s power, works, and housing minister Babatunde Fashola has identified the loan amount as a requirement in order to address the issues that the country has in terms of distribution of power, transmission-capacity and poor access to electricity in rural areas. These issues have a knock-on effect for the economy, and addressing these would allow for improved electricity capacity for Nigerian private and public enterprise

  • 12 Sub-Saharan African Countries With The Poorest Access To Electricity

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    Many of the countries with the poorest access to electricity are in Africa, with around 625 million people in sub-Saharan Africa devoid of any access to electricity whatsoever. Due to issues such as insufficient capacity, poor reliability, and high costs, only around 32 percent of the population within sub-Saharan Africa have access to electricity. We take a look at 12 Sub-Saharan African countries with the poorest access to electricity.

  • 6 Women Tech Entrepreneurs Featuring At The World Economic Forum On Africa

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    The annual World Economic Forum on Africa will see a selection of impressive women tech entrepreneurs taking center stage in Durban, South Africa, with the aim of showcasing the wealth of entrepreneurial talent available on the continent. The 2017 meeting runs from Wednesday, May 3 to Friday, May 5, and will be conducted with the wider theme of “Achieving inclusive growth through responsive and responsible leadership” in mind. Women continue to be an important driver of African economies, with one-third of all businesses across Africa owned by women.

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  • Opinion: Renewables Can Help Africa, But Real Solutions Lie In Nuclear, Coal And Natural Gas

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    Wind and solar power in Africa are short-term solutions that cannot fix serious, immediate problems. African cities need abundant, reliable electricity, and they need it now. Wind and solar do not equal real economic development or really improved living standards. African governments need to stand up to Europeans, global banks and environmentalists who oppose big power plants in Africa. Our leaders need to remember that Europe and the U.S. did not have a World Bank or other outside help when they modernized and industrialized. They did it themselves.

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