The cost of imported goods like cars, electronics and second-hand clothes as well as that of electricity will increase further ahead of the festive season after the shilling fell to a new all-time low of 112.07 units against the dollar. The weakening of the shilling has triggered fears of a fresh round of inflationary pressure, […]
One of the topical areas that dominated discussions in Glasgow, Scotland, during the 2021 United Nations Climate Change Conference, popularised as COP26, was the pace of progress on financing initiatives required to turn the tide of climate change. In the face of the growing need for countries worldwide to mobilise the resources required to manage […]
National Treasury Cabinet Secretary Ukur Yatani State corporations defied the ravaging effects of Covid-19 to post accumulated profits of Sh37.3 billion in the financial year 2020-21. This was in the wake of reforms by the National Treasury and pressure from the International Monetary Fund, which has been pushing for the merger of some of the […]
KenGen Managing Director and CEO, Rebecca Miano speaking at COP26 (source: KenGen) In a speech at COP26, KenGen MD & CEO Rebecca Miano announces 3-year plan for the acceleration of renewable energy development including geothermal. In line with further announcement connected to the ongoing COP26 meetings in Glasgow, Kenya Electricity Generating Company (KenGen) Managing Director […]
KenGen team on site in Ethiopia (source: KenGen) Kenya’s KenGen has successfully concluded drilling the deepest geothermal well in Ethiopia, the second well out of planned eight for state-owned EEP in Ethiopia. Kenya Electricity Generating Company (KenGen) reports having completed drilling the deepest geothermal well in Ethiopia. The company is currently drilling wells under contract […]
The Auditor-General has raised concerns on hefty payments made to Independent Power Producers (IPPs) by Kenya Power despite the firms accounting for only a fraction of the electricity consumed in the country. Nancy Gathungu noted that payments to the companies are disproportionately high, especially when compared to what Kenya Electricity Generating Company (KenGen) earns. She […]
Kenya can now raise money by trading carbon credits. This milestone comes shortly after the conclusion of the United Nations Climate Change Conference which saw 90 per cent of the world’s economy commit to cut carbon emissions to zero under the Glasgow Climate Pact COP26. UK High Commissioner Jane Marriott further explains that the pact […]
Safaricom headquarters on Nairobi’s Waiyaki Way. PHOTO | DIANA NGILA Safaricom’s #ticker:SCOM bank borrowings rose to a record Sh76.9 billion in the half-year ended September as the telco raised funds to pay for its Ethiopian licence besides investing in its operations. The company’s debt increased 5.2 times from Sh14.7 billion a year earlier, making the […]
A few years ago, Kenyans and most of us knew little about electric vehicles (EVs) that were synonymous with developed nations such as the US, United Kingdom, China, and Germany. The main reason for Kenya’s, and indeed Africa’s, slow adoption of electric vehicles is that the transition requires heavy investments in technology and infrastructure that […]
Power producer Kenya Electricity Generating Company #ticker:KEGN (KenGen) has completed drilling of a 3,000 meters geothermal well in Ethiopia, its longest well yet in the neighbouring nation, having surpassed its inaugural well of 2,750 meters. The firm says the project is second out of eight wells it was contracted to drill by the state-owned electricity […]
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