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Ngong Hills Wind Farm
Image courtesy of Globalpost.com
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The Government of
Kenya has secured a Sh1.32billion loan from the Belgian Government and Belgium’s
KBC Bank to finance the installation of Wind turbines at the KenGen’s Ngong
Hills power plant.
The loan agreement, which was signed on Wednesday by Finance
minister Njeru Githae, includes a state-to-state zero interest credit agreement
of 6 million Euros and a concessional credit agreement with KBC Bank of Belgium
of 6.36 million Euros.
The loan will facilitate expansion of Phase II of the Ngong
Hills Wind Turbine Electricity Generation Project as Kenya seeks to utilize renewable
and sustainable energy through geothermal, solar and wind power.
The government has also announced that it will seek another
loan from the Spanish government to increase the capacity of the power plant,
which is expected to be commissioned in October.
Family Bank modernizes ATMs to Check Fraud
Family Bank has signed a contract with East Africa’s leading
card processor Paynet Group to replace its magnetic –stripe ATM cards with Visa
EMV chip cards, as it seeks to curb ATM-based fraud.
Paynet Group will also offer M-Pesa cash withdrawals, Visa
and MasterCard issuance, bill payments, and prepaid airtime sales at the ATM
points for Family Bank.
The bank has also announced its plans to outsource a range of
services, in order to reduce its expansion overhead cost and operation expense.
Olympia Capital Unveils
New CEO
Olympia Capital Holdings has appointed Kenneth Kareithi as the
new Chief Executive Officer. Mr. Kareithi will remain the CEO of Mather and
Platt Kenya, where Olympia Capital has a 51 percent stake.
Former CEO Michael Matu will take up the newly created
position of Deputy Chairman.
Kenya Airways
receives second Embraer
National carrier Kenya Airways has deepened its relationship with
the Sky Team Alliance with the arrival of its second fully owned Embraer E-190
in Sky Team livery.
This is the second KQ operated aircraft with the Sky Team livery
alongside the B737-700 aircraft already in the Sky Team livery.
For more on KQ acquisition of 2nd Embraer go to http://www.capitalfm.co.ke/business/2012/09/kq-lands-another-new-embraer/
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