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Kenya’s e-pharmacy, MyDawa raises $19.9 million for expansion

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Kenyan online health platform, MyDawa has expanded its market reach after it acquired a Ugandan pharmacy chain following injections from a London-based firm.

The deal pulled through after MyDawa raised Ksh2.8 billion ($19.9 million) from London-based private equity investor, Alta Semper Capital to expand its services in the East African region.

MyDawa in a statement confirmed that it had “received a capital injection totaling $20 million from private equity investor Alta Semper Capital. With its latest investment, Alta Semper, an international private equity fund whose mission is to democratize access to health and well-being, is now a major driver behind MyDawa having first backed the company in October 2021.”

“To complete the service offering, walk-in pharmacies or health centres are being opened in Kenya, the newest being the successful launch of a combined full-service pharmacy, health centre, and fulfillment centre in Mombasa, Kenya,” said MyDawa.

The chief executive and managing partner at Alta Semper, Afsane Jetha said the “investment marks our entry into digital healthcare in Africa, which we see as a major growth area across Africa in the coming years. MyDawa was the logical choice for us.

“The drive to increase access to good advice and safe and affordable medication is core to our overall mission of democratizing access to health and wellbeing across the African continent.”

An online pharmacy, or e-pharmacy, operates similarly to a traditional pharmacy in that it prepares and sells both prescription and over-the-counter medications.

According to Statista, revenue in online pharmacy in Africa is projected to reach US$0.76bn in 2023, while user penetration will be 10.98% in 2023 and is expected to hit 15.50% by 2027.

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Uganda discusses power line to South Sudan with China’s Sinohydro

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According to the president’s office, Uganda is in negotiations with Sinohydro Corporation Limited of China to build a $180 million power transmission line that would enable Uganda to export electricity to South Sudan, which is severely short on energy.

Ugandan President Yoweri Museveni received a group led by Vice President of Sinohydro Corporation Yang Yi Xin on Monday as part of the negotiations, according to a late-morning statement from Museveni’s office.

The project, according to the statement, will entail building a new substation and expanding two existing ones in addition to building a 138-kilometre high-voltage transmission line to provide power to South Sudan.

“We are very much willing to help develop this project with the required finance if needed,” Xin was quoted as telling the president.

The statement stated that Museveni endorsed Sinohydro’s proposal to carry out the project. Uganda and South Sudan inked a power sales deal in June of last year, enabling Uganda to sell electricity to South Sudan.

To enable Uganda to export electricity to South Sudan, the two nations inked a power sales deal in June of last year. The Chinese firm is completing a $1.5 billion, 600-megawatt hydropower project on the River Nile in Northern Uganda that is meant to be the source for electricity exports to South Sudan.

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Uganda considers nuclear energy to meet increased electricity demand

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Uganda’s Ministry of Energy and Mineral Development announced on Tuesday that it was collaborating with the International Atomic Energy Agency (IAEA) to develop nuclear energy in the country as power demand rises.

Irene Batebe, permanent secretary of the ministry, stated that the government, with the assistance of the IAEA, is investigating and evaluating uranium deposits to ensure a sustainable supply of nuclear fuel for the projected nuclear power plants and research reactors.

“Uranium is the most widely used nuclear fuel material in nuclear power plants and research reactors and is required for Uganda’s nuclear power program.

“The planned nuclear power capacity will require about 4,000 tons of Uranium annually when fully operational. Thus, there is a need for sustainable sources of uranium,” she said at the opening of the nine-day meeting with the experts from the IAEA.

Batebe stated that the government is modifying the Atomic Energy Act of 2008 to tighten the legal framework for the exploration, mining, and processing of nuclear fuel reserves. She stated that even if completely exploited, the country’s electricity generation capacity from hydro, biomass, geothermal, and peat will fall short of Uganda Vision 2040 ambitions.

“To meet our development targets, nuclear energy among other sources must be integrated in the electricity generation mix,” she said.

The Cabinet approved the Energy Policy for Uganda, 2023 in April 2023, which envisions the long-term development of 52,481 MW of generation capacity to meet future demand, with nuclear power accounting for 24,000 MW.

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