Friday, 5 July 2013

Obama's $7Billion Power Investment Plan for Africa

With the new Medupi and Kusile power plants to generate 4 500MW each, the power generated by these two stations is roughly equal to what will be required to double power access for the entire remaining part of sub-Saharan Africa.
"We're going to start by investing $7-billion in United States government resources," said Obama.
"We're going to partner with the private sector, who themselves have committed more than $9-billion in investment. And in partnership with African nations, we're going to develop new sources of energy … That's what opportunity looks like."
The project is poised to increase electricity access to at least 20-million new households across six countries: Nigeria, Ghana, Ethiopia, Kenya, Liberia and Tanzania.
These states, hand-picked by the US, had set "ambitious goals in electric power generation" and were making the reforms needed to "pave the way for investment and growth", said the White House in a statement.
The plan has ushered in the participation of major American investors, as well as a few backers from other countries.

So, tell us what you think? Is this a positive for Africa or is it just another investment opportunity been harnessed by the US? Do you think its a win win? Holla!

No comments:

Post a Comment