Power Africa, Africa50 ink pact for energy projects
Power Africa and Africa50 signed a memorandum of understanding (MoU) focused on attracting power sector financing and developing innovative public-private partnership models in sub-Saharan Africa.
November 13, 2019: Power Africa and Africa50 signed a memorandum of understanding (MoU) focused on attracting power sector financing and developing innovative public-private partnership models in sub-Saharan Africa. Africa50 will be the nineteenth development partner to join the Power Africa initiative. The MoU signed during Africa Investment Forum in Johannesburg, provides a foundation for collaboration in the energy sector at the country and regional level throughout sub-Saharan Africa.
Today, at the @AIFMarketPlace, @PowerAfricaUS Deputy Coordinator, Richard Nelson & Director of Project Development for @Africa50Infra, Koffi Klousseh, signed an MOU, to collaborate and find advanced solutions to combating energy poverty in Sub-Saharan Africa. pic.twitter.com/iXksWrgWxL— US Africa Media Hub (@AfricaMediaHub) November 12, 2019
Speaking at the signing ceremony, Koffi Klousseh, Africa50’s project development director, stated, “Energy generation and transmission are among the most pressing infrastructure needs in Africa, with important economic multiplier effects. To successfully develop energy sector projects requires collaboration among all stakeholders, so we are pleased to partner with the Power Africa initiative and look forward to working with its experienced member companies and organisations to implement power projects on the continent.”
Power Africa was represented by Richard Nelson, deputy coordinator, who commented that this partnership underscores Power Africa’s commitment to partnering with African institutions. “We are looking forward to deepening our collaboration with Africa50 to finance new energy and transmission projects in sub-Saharan Africa.”