Kenya Power gets Loan from UBA Bank

By on May 25, 2015 in Distribution, Power with 0 Comments

The United Bank of Africa (UBA) has, given Kenya Power Company a US$10m loan facility to upgrade its infrastructure to distribute 5,000mw by 2017, which is expected to boost the capacity of the power company’s transmission lines. Star Africa reports that the facility was part of a syndicated loan from a number of lenders to finance the planned infrastructure expansion for Kenya’s sole power distributor and the financing would be used to boost the capacity of transmission lines, upgrading existing substations and constructing 37 new ones, while also installing new equipment in the power grid. UBA, whose parent firm is in Nigeria, entered the Kenyan market five years ago and has now ventured into financing the local power sector. UBA has operations in 19 African countries and has international offices in New York, Paris and London.

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About the Author

About the Author: Eugene Obiero is the founder of The Africa Resources Post and its predecessor The East African Energy Blog. Eugene has been writing and blogging on energy and extractives in Africa since June 2012. He is based in Nairobi, Kenya and works for Camco Clean Energy (http://www.camcocleanenergy.com/ ) as Senior Manager Africa Projects. He specializes in market entry strategy, research, financial advisory and project management. Eugene has an MBA from The Warwick Business School, University of Warwick (UK). The posts on this blogsite are Eugene's and do not necessary reflect the thinking of his employer, Camco Clean Energy. .

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