Efacec to Light up Rwandan Rural Communities

Image

By Dipo Olowookere

A Portuguese company called Efacec Power Solutions (EPS) has been chosen to construct three new 200kV substations in Rwanda, expected to distribute electricity to the country’s rural areas, such as Rwabusoro, Mamba e Rilima.

The technical abilities and skills of Efacec’s High Tension Substations area was the reason behind being chosen by the tender’s winning company – STEG International Services, from Tunisia – to implement the project of engineering, supply, supervision and commissioning of the three new substations on a turn-key basis. This contract is worth approximately 10.5 million euro and has an 18 months’ execution deadline.

This construction work will be fundamental to give flow to the 80MW produced in Mamba’s Biomass Power Station for the national electricity grid. Currently only 25% of Rwanda’s households have power. This project is part of the government ambition to bring electrical energy to 70% of Rwanda’s families, until 2018.

According to Ângelo Ramalho, Efacec’s CEO, “being chosen for this project attests, once again, Efacec’s skills. We are proud of this new act of trust bestowed to our company. We’ll continuously work in order to bring power to all the parts of the world”.

The partnership established with STEG results from an ongoing project that Efacec has in Tunisia for STEG: the execution of a substations contract.

Efacec has strong international presence that produces products for power transmission and distribution (adapters, service, high and medium voltage switchgear and automation gear) for the Energy, Environmental, Industry and Railway sectors and develops solution for Electrical Mobility, namely an energy charging system.

EPS develops its activity in strategic markets, such as Spain, Central Europe, United States, Latin America, Brazil, Maghreb, Southern Africa and India.

Share
Related Stories
Image
28-January-2024

Niger, Mali, Burkina Faso Leave ECOWAS

By Adedapo Adesanya The trio of Niger, Mali and Burkina Faso on Sunday announced their withdrawal from the Economic Community of West African States (ECOWAS). The West African countries are currently led by soldiers following coups that ousted the civilian leadership in the countries with Niger being the latest. Struggling with jihadist violence and poverty, the regimes have had tense ties with ECOWAS since coups took place in Niger in July 2023, Burkina Faso in 2022, and Mali in 2020. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions. According to an Associated Press report, the

Image
05-February-2024

A Shifting Landscape: Is ECOWAS Awakening to Regional Economic and Security Realities?

By Kestér Kenn Klomegâh Given the multidimensional difficulties facing the the regional bloc, the Economic Community of West African States (ECOWAS), the most delicate being forging indivisible regional security which, at least, constitutes the basis for economic integration and development. The highly anticipated decision made by Burkina Faso, Mali and Niger to quit the organization poses challenges and resolving these fragile questions lead to instability. Burkina Faso, Mali and Niger have common historical and political backgrounds, as former French colonies struggled to maintain some kind of democracy and improve the economic situation for 80% impoverished population. However, the political leadership

Image
06-February-2024

International Food Prices Dip Further in January 2024—FAO

By Adedapo Adesanya Global food prices fell further in January 2024, mainly on lower wheat and maize prices, according to the latest data from the United Nations’ Food and Agriculture Organisation (FAO). The FAO Food Price Index (FFPI), which is used to gauge aggregate pricing, stood at 118.0 points in January 2024, down 1.2 points (1.0 per cent) from its revised December level. Decreases in the price indices for cereals and meat more than offset an increase in the sugar price index, while those for dairy and vegetable oils only registered slight adjustments. The index stood 13.7 points (10.4 per

More Stories
Image
03-August-2021

EHORECON to Gather Stakeholders to Discuss Environmental Health

By Sodeinde Temidayo David The Environmental Health Officers Registration Council of Nigeria (EHORECON) is set to hold its first-ever summit on environmental health in Nigeria from August 4 – 6. The event titled Rebranding Environmental Health Practice: Breaking Barriers, Unlocking Opportunities will be held at the International Conference Centre, Abuja. Some of the important stakeholders in the sector expected to grace the occasion include the Minister of Environment, Mr Mohammad Mahmood Abubakar; some other federal ministers, Director-Generals (DGs)/Chief Executives (CEOs), captains of industries and others in the environment sectors. According to the statement issued by EHOPECON’s Head, Public Affairs, Mr

Image
12-June-2023

Tinubu Promises to Boost Spending on Public Utilities to Ease Suffering

By Adedapo Adesanya President Bola Tinubu has promised to boost spending on public utilities, including roads, education, and healthcare, to improve the standard of living of Nigerians. This was disclosed at his first Democracy Day speech on Monday, June 12, where he pleaded with Nigerians to bear the suffering that came with the removal of the fuel subsidy that was announced on his inauguration. He noted that his administration would reward their sacrifices with massive investments in transportation infrastructure, education, regular power supply, healthcare, and other public utilities that would improve their quality of life. Mr Tinubu said he identified

Image
21-December-2016

NSE Index Loses 0.46% As Seplat, 15 Others Fall

By Modupe Gbadeyanka The Nigerian stock market recorded its third consecutive decline at the end of trading activities on Wednesday with the all-share index falling by 122.76 points or 0.46 percent to end at 26,418.11 points, while the market capitalisation dropped by N42.2 billion to close at N9.089 trillion. Business Post correspondent reports that 16 equities depreciated in price today, same as the number of stocks that remained unchanged, while 20 equities appreciated in value at the market. Also today, a total of 421 million shares were transacted on the floor of the Nigerian Stock Exchange (NSE) in 3,937 deals

Image
14-July-2017

Flour Mills Grows Stronger Despite Vast Macroeconomic Challenges

By Modupe Gbadeyanka It was a remarkable 2016/17 financial year for Flour Mills of Nigeria despite its overwhelming macroeconomic challenges, which included fallout of some global political and economic developments leading to foreign exchange volatility, business uncertainties and a significant weakening of the Naira which negatively impacted its business. The firm stood tall in spite of the formidable challenges and the unfavourable operating environment, achieving a solid performance, majorly influenced by its resilience and managerial capabilities. During the period, FMN Group achieved an increase in turnover which rose by an impressive 53 percent to N524 billion. The growth was driven

Image
30-January-2022

Least Purpose Developing Countries

By Nneka Okumazie Lots of people in many developing countries still often blame corruption, religion, education system, political class, rule of law, foreigners – old and new, etc. as the problem of their countries. Those who did and continue to do should know that their observations, or of others with which they agree, lack the potential to bring progress. How much can corruption grow in a high purpose society? What is the reach of religion in any society that has a destination? What does education mean without advancement as a goal? How much can foreigners persistently harm a people, for

Image
16-March-2021

Naira Appreciates to N408.90/$1 at Investors’ FX Window

By Adedapo Adesanya The Naira appreciated by N1.10 or 0.27 per cent on the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Monday, March 15. During the trading session, the domestic currency was exchanged by traders at N408.90/$1 in contrast to N410/$1 it was sold last Friday. It was observed by Business Post that the Nigerian currency was able to ‘bully’ its American counterpart at the FX window yesterday due to lower demand for forex by customers. At the market on Monday, the value of transactions recorded waned by 20.7 per cent or

Image
30-June-2017

Asian Stocks Succumb to Heavy Selling Pressure

By Investors Hub Asian stocks succumbed to heavy selling pressure on Friday as broad declines on Wall Street and in Europe overnight overshadowed encouraging data from China. Chinese shares bucked the weak trend to end a tad higher as official manufacturing and services sector data added to signs of a stabilizing economy. The benchmark Shanghai Composite Index edged up 3.00 points or 0.1 percent to 3,191.06, while Hong Kong’s Hang Seng Index slid 200.84 points or 0.8 percent to 25,764.58. China’s official manufacturing PMI rose to 51.7 in June from 51.2 in May, indicating the quickest pace of expansion in

Image
30-March-2017

National Assembly Okays $500m Eurobond

By Modupe Gbadeyanka Minister of Finance, Mrs Kemi Adeosun, says the National Assembly has approved a $500 million Eurobond sale. Addressing journalists in Abuja, Mrs Adeosun disclosed that details of the Eurobond issuance would be released later. The Federal Government approached the legislative arm of government to seek its approval to raise a new issue after raising an oversubscribed $1 billion Eurobond in February 2017. It plans to increase public spending by almost 20 percent this year with a deficit of N2.36 trillion ($7.7 billion). The increase in public spending follows the Nigerian economy’s first annual contraction in 25 years

Ad
Ad
Recent Stories
Image
02-March-2024

JUST IN: Nollywood Star Mr Ibu Dies

By Modupe Gbadeyanka Information just reaching Business Post indicates that popular Nigerian actor, Mr John Okafor, otherwise known as Mr Ibu, is dead. It was gathered that the Nollywood star breathed his last on Saturday in a hospital in Lagos. His demise comes a day after the Nigeria film industry lost an actor, Mr Tolani Quadri Oyebamiji, well-known as Sisi Quadri. Mr Ibu underwent a surgery, which led to the amputation of one of his legs. He was later discharged from the hospital, but was reportedly taken back. Until his death, he acted in several movies. He was well known

Image
02-March-2024

African Bishops Seek Overhaul of Financial System as Debt Burden Worsens

African Catholic Bishops called for an overhaul of the financial system to address health, climate, food and other challenges the region faces. Ahead of a gathering of African Finance Ministers in Victoria Falls, Zimbabwe, the Justice, Peace and Development Commission of the Catholic Symposium of Episcopal Conferences of Africa and Madagascar (SECAM) outlined reforms for debt relief, development resources and governance. “In Sub-Saharan Africa the number of people facing food insecurity stress or crisis has more than doubled since 2019, reaching 420 million people last year,” noted the bishops in a statement. A delegation representing the African Bishops and religious

Image
02-March-2024

MTF Class of 2023 to Premiere Her Dark Past, Grown

By Modupe Gbadeyanka Two feature films will be premiered this weekend exclusively on the Africa Magic Showcase channel 151 and Africa Magic Urban channel 153 by the students of the MultiChoice Talent Factory (MTF). The two pieces of art titled Grown and Her Dark Past are the final projects of the MTF Class of 2023 students, a statement from the organisation said. The MTF is a leading film school in West Africa for young, talented and passionate filmmakers. It was established by the media platform to grow the region’s creative industry. Grown premieres on Africa Magic Showcase at 8.30 pm

Image
02-March-2024

Mandela’s Heirs Lose Power in South Africa

By Alexander Braterskiy South African authorities warn that if the opposition wins the parliamentary elections, the country may change course and leave the informal BRICS economic bloc, which includes Russia. The position of the African National Congress party, which has been in power since the collapse of apartheid, is indeed not the best, as shown by the municipal elections held earlier in the country. The opposition accuses the president of corruption and abuse of power, as well as an inability to cope with the country’s energy crisis. The ANC crisis occurred on the 30th anniversary of the first free elections

Image
02-March-2024

CAA Reaffirms Commitment to Climate Innovation for Sustainable Future

By Modupe Gbadeyanka A leading social enterprise focused on environmental sustainability, Climate Action Africa (CAA), has reaffirmed its commitment to being at the forefront of driving climate innovation for a sustainable future. The organization, which is a key participant at the four-day Omniverse Summit 2024 in Lagos, emphasised the need to integrate environmental sustainability models, technology, and community-driven innovation to address climate change challenges. It promised to foster an inclusive climate action ecosystem through innovation, which it said can be used to identify and scale solutions to address the imminent climate crisis in Nigeria and Africa as a whole, The

Image
02-March-2024

Endosurvivors Foundation Set For Another Endometriosis Awareness

By Adedapo Adesanya EndoSurvivors International Foundation (ESIF), an NGO championing endometriosis awareness in Nigeria, has announced its upcoming events in commemoration of the Global Endometriosis Advocacy Month in March, fondly tagged March4Endo by advocates all over the world.  Endometriosis is a chronic and inflammatory condition that affects approximately 1 in 10 girls and women in Nigeria and on a global scale. This sums up to about 190 million affected girls/women around the world, about the population of Nigeria in 2018.  The World Health Organisation (WHO) recognizes that endometriosis has significant social, public health, and economic implications leading to a decrease

Image
02-March-2024

CSCS, FrieslandCampina Lift NASD OTC Bourse by 0.31%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange returned to the positive territory after it gained 0.31 per cent on Friday, March 1, thanks to the duo of Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc. CSCS Plc added 81 Kobo to its value to sell for N19.46 per unit compared with the preceding day’s N18.65 per unit, and FrieslandCampina improved by N1.15 to settle at N71.4o per share, in contrast to Thursday’s closing price of N70.25 per share. However, Aradel Holdings Plc continued its price depreciation yesterday as it shed N6.75 to sell at N2,395.00

Image
02-March-2024

Naira Now N1,548.25 at Official Market, N1,560/$1 at Black Market

By Adedapo Adesanya The Naira sustained its gradual recovery against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, March 1, appreciating by 2.94 per cent or N46.86 to sell at N1,548.25/$1, in contrast to the N1,595.11/$1 it was traded on Thursday. Also, in the spot market, the Nigerian currency improved its value against the Pound Sterling during the trading day by N90.13 to close at N1,956.06/£1 versus the previous day’s N2,046.19/£1 and against the Euro, it gained N76.39 to trade at N1,675.25/€1, in contrast to the N1,751.64/€1 it closed a day earlier. The supply of

Image
02-March-2024

Crude Oil Jumps 2% as Traders Sight Possible OPEC+ Cuts

By Adedapo Adesanya Crude oil appreciated by about 2 per cent on Friday as traders awaited a decision from the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on supply agreements for the second quarter. Yesterday, the price of Brent futures went up by $1.64 or 2 per cent to $83.55 per barrel and the US West Texas Intermediate (WTI) futures rose by $1.71 or 2.19 per cent to $79.97 a barrel. For the week, Brent added around 2.4 per cent while WTI gained more than 4.5 per cent. Analysts noted that the expectation that OPEC+ is going to

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods