KCB VENTURE 1 final

CLIMATE CHANGE
Cleaner
energy:
leading
from the
front
Kenya is shaping up to
be a distinct leader on the
global stage in clean energy.
The country is on track to
become the largest producer
of geothermal energy on the
African continent by the year
2022.
Geothermal energy
is classified as clean,
sustainable energy that is
produced from heat sources
from the earth, including
magma and hot rocks. The
government outlined a longterm
strategic goal in the
Kenya Vision 2030 to provide
nearly 70 percent of Kenyans
with renewable energy.
Currently, the economy
relies on traditional sources
including wood fuel and other
biomass that account for 68
percent of the total energy
consumption.
The country is aiming
to diversify its sources
of energy to advance and
urbanize the economy. The
increased use of green
bonds or funds aimed to
back projects that support
green initiatives, can enable
support clean energy, and
as a result, source for more
long-term capital for greener
investment.
Green bonds as an
attractive investment
portfolio are increasingly
becoming popular.
Key country
indicators
IN THIS ISSUE of KCB Venture
we looked at some growth
indicators and trends.
We have also looked at
global trends to put things in
perspective.
Last year, the global slump in
oil prices affected oil exporting
countries, though for oil
importerts like Kenya, it was a
blessing in disguise.
In fact, the generally stable
inflation rate was driven by
the low oil prices among other
drivers.
Electricity production
continued to be stable, with
geothermal posting good growth
further supplementing the
government’s drive towards
clean energy.
Quantity MT
Price Ksh/Kg
| 9