Video transcript with source links below
by John O'Connor
President Obama announced Sunday a new multibillion-dollar pledge to enhance electricity access across Africa.
The $7 billion venture — dubbed “Power Africa” — will complement an additional $9 billion in private funds to combat frequent blackouts and provide access to power for sub-Saharan Africa. (ViaMSNBC)
Businessweek notes: "The venture will begin in six countries — Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania — to add more than 10,000 megawatts of cleaner, more efficient electricity generation capacity and will expand electricity access to at least 20 million new households and commercial entities.”
The funds for the initiative will be distributed over the course of the next five years.
In a statement released Sunday, The White House explains more than two-thirds of the population is without electricity, and more than 85 percent of those in rural areas have no access.
The president made the announcement while in South Africa — the continent’s biggest economy — as a part of his week-long visit to the region. According to CNN: “The trip aims to bolster U.S. investment opportunities, address development issues such as food security and health, and promote democracy.”
The Los Angeles Times explains during his first term, President Obama has been charged with neglecting U.S investment in Africa, “allowing other countries — most notably China — to rush in with new investment. The Power Africa program is part of the administration's answer to such criticism.”
According to the White House, sub-Saharan Africa will need more than $300 billion in order to achieve universal electricity by 2030.
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