U.S. President Barack Obama on Sunday pledged $7 billion to help build steady power supply in Nigeria, Ethiopia, Kenya, Liberia, Tanzania, Uganda and Mozambique, countries in sub-Saharan Africa with epileptic power supply.
The initiative is called “Power Africa” and the funds will be invested over a period of five years.
President Obama announced the initiative while addressing students at Cape Town University in South Africa, his second stop during his three-country, eight-day Africa Tour.
“Access to electricity is fundamental to opportunity in this age. It’s the light that children study by, the energy that allows an idea to be transformed into a real business,” he said.
“It’s the lifeline for families to meet their most basic needs, and it’s the connection that’s needed to plug Africa into the grid of the global economy,” Obama added.
Obama, who is on his second Africa Tour since he became U.S. leader, has stressed that he does not see Africa as a “charity case” but as a business partner. He hopes his visit will spark increased U.S. investments in Africa.