Obama's 'Power Africa' initiative steps up
A delegation of 10 US companies met local investors in a bid to build investment networks in energy, infrastructure and agribusiness. The delegation was led by
Corporate Council for Africa, an American-based business lobby firm.
The Corporate Council for Africa president Stephen Hayes said Kenya is one of the ideal investment places because it is part of the Power Africa – an initiative by Obama to increase energy generation and access to sub-Saharan Africa.
He said that they were in the country to identify companies they could work with. They also plan to establish long term relationships with the Kenya Private Sector Alliance.
“We hope that in the next three years, 90 American companies will have firmly invested in different sectors of the Kenyan economy,” said Hayes.
He cited General Electric’s already having provided US$2 billion as funds for the Power Africa campaign. The campaign has received a total of $14 billion from the Obama administration according to the latest announcement.