With more than 600 million people in sub-Saharan Africa lacking access to electricity, the power development challenge is enormous. More than two-thirds of the population is without electricity, including more than 85 percent of those living in rural areas. According to the International Energy Agency, sub-Saharan Africa needs more than $300 billion in investments to achieve universal electricity access by 2030 – far beyond the capacity of any traditional development program.
Tomorrow, U.S. Secretary of Commerce Penny Pritzker will leave for West Africa to lead 20 American companies on an Energy Business Development Mission with stops in Ghana and Nigeria. This mission will promote U.S. exports to Africa by helping American firms launch or increase their business in the energy sector in West Africa. It will also help the African region develop and manage energy resources and systems, build out power generation and transmission, and distribution.
Africa is home to seven of the ten fastest growing economies in the world, and helping U.S. business expand their presence in these African markets is a top priority for the Department of Commerce and the Obama Administration. There is tremendous potential for U.S. companies to sell their goods and services in countries like Ghana and Nigeria, which have energy needs that our firms have the goods, services, and expertise to address. Expanding trade and investment is a critical tool for economic growth and job creation in the U.S., and trade missions like this one are one way to help grow U.S. exports.