The United States’ confidence remains high as the $7 billion pledge by President Barack Obama to upgrade the power supply in sub Saharan Africa, takes effect. Nigeria, along with Kenya, Ethiopia, Liberia, Ghana and Tanzania are the first six countries to work with the U.S. government through the Power Africa initiative.
“We have made tremendous progress in working with the six initial countries that are part of Power Africa, and working with the private sector to ensure that we get more investment on the continent” said Linda Thomas-Greenfield, Assistant Secretary for African Affairs.
“Power Africa and the improvements that have been made in terms of companies investing in power on the continent and countries opening up markets so that it is easier to invest in power on the continent” she continued.
The assistant secretary expressed her anticipation in sharing the progress that has been achieved thus far at the upcoming African Leaders Summit in August, which will be held in New York.
“I think everything is open for a discussion in terms of how we improve energy availability on the continent of Africa…we have seen billions of dollar being put on the table for investing in energy in Africa”
The AGOA legislation, she continued, is due to expire in September 2015. The legislation was approved by the U.S. Congress in May 2000. The purpose of this legislation is to assist the economies of sub-Saharan Africa and to improve economic relations between the U.S. and the region.
“The President has announced that there will be a seamless renewal. How long it will be extended is the prerogative of our Congress, our legislature, and they are looking at the legislation now”.
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