President Uhuru Kenyatta. Source: Capital Business.

“Africa has huge potential for renewable power generation that the private sector should invest in,” said Kenya’s President, Uhuru Kenyatta, at a roundtable meeting in Addis Ababa on Tuesday.

Assuring a healthy business environment, for both local and foreign investors, Kenyatta noted Kenya’s wide range of reforms that have been instituted in the last five years – affording the private sector opportunities to participate in energy provision.

Private sector investment

According to the President, the private sector should be encouraged to participate in generation and transmission projects, enabling government to focus on projects that are socially necessary to transform lives but which may not necessarily be economically viable, Capital Business reported.

Commenting on the delivery of the Last Mile Connectivity project, Kenyatta said: “As a result of that focus, we were able to increase access to electricity for Kenyans from 28% to over 60% within a period of four years.”

The President highlighted that Kenya and other Africa countries are open for business, and welcomes partnerships that share the continent’s vision for growth.

“We seek partners who are not looking at Africa as a continent looking for help but one to partner with on a win-win basis to drive growth and transformation,” the President said.

He highlighted that investors should seek out the abundant opportunities: “You seriously need to begin looking into how you can benefit from the initiatives that the new crop of African leaders are putting in place.”

A sustainable power mix

Present at the roundtable meeting was Senegal’s President, Macky Sall, who stressed the need for a power strategy that is sustainable and affordable, while not over exploiting the available energy resources.

“Focus should be on funding projects that will reduce the cost of energy and make it more accessible to our people,” Sall said.

According to media, Sall commended Kenya’s efforts in renewable energy generation, especially geothermal and wind power. Read more…

 

Featured image: Capital Business