The Africa Finance Corporation has announced in Lagos its plan to invest over $250m in the power sector of Ghana, Kenya and Nigeria over the next five years as a key partner in the United States Presidential Power Africa initiative.
A statement from the institution on Wednesday quoted the Chief Executive Officer, AFC, Mr. Andrew Alli, as stating this during a roundtable hosted by President Barack Obama in Dares Salaam, Tanzania.
Alli emphasised the importance of the Power Africa Initiative to the economic growth of Africa with its numerous benefits.
He said, “The International Energy Agency has reported that sub-Saharan Africa will require more than $300bn in investment to achieve universal access to electricity by 2030. AFC will provide additional investments in energy projects, far in excess of its commitment to the Power Africa initiative.
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