The US Senate Subcommittee on Africa is set to kick-start discussions on President Barack Obama’s proposed $7 billion Power Africa initiative, aimed at developing the continent’s energy infrastructure during a hearing this afternoon. Considered as the most significant African issue to be debated by the senate since the African Growth and Opportunity Act (AGOA) was introduced in 14 years ago, cases, arguments and testimonies aimed at informing and convincing the committee to push forward with the proposal, will be listened to and debated upon during the session. Africapitalism proponent and a major player in Nigeria’s power industry, Tony Elumelu has been invited to address the committee, becoming the first African private business leader to speak before US Senate and contribute in this way to such a critical and strategic US policy. He will testify on behalf of the African private sector. The hearing will be aired via a live webcast at 14:30 GMT. Visionary investor Tony Elumelu is the leading African investor in Power Africa, having committed $2.5 billion to the initiative through his proprietary investment company Heirs Holdings, owners of the recently unbundled Ughelli Power Plant – a facility that holds 1000 MW capacity. President Obama’s Power Africa initiative, proposed during his tour of Africa last year, is designed to double the number of people with access to power in sub-Saharan Africa by unlocking the substantial wind, solar, hydropower, natural gas, and geothermal resources.
Posted on: Fri, 28 Mar 2014 10:24:00 +0000
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