ABN - President Obama has signed a transformative initiative to bring electricity to 50 million people in sub-Saharan Africa into law. The Electrify Africa Act 2015
will provide legal backing to Obama’s Power Africa project, launched in 2013, which pledged USD$7 billion to the energy sector in sub-Saharan Africa.
The legal act has finally been passed after taking two years to be ratified in both houses of the US Congress.
The U.S. Agency for International Development, the Trade and Development Agency, the Overseas Private Investment Corporation (OPIC), and the Millennium Challenge Corporation are urged to prioritize efforts and assistance for power projects and markets in sub-Saharan Africa, as part of the Act.
There are 620 million people without electricity in sub-Saharan Africa and 37 countries have national electrification rates of under 50 per cent.