On his recent visit to Africa, Obama announced the new Power Africa program, pledging $7 billion over the next five years to increase energy production and access to energy sources in the sub-Saharan region.
The initiative will hopefully double access to electricity in Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania, according to the Christian Science Monitor.
Obama acknowledged the continent’s high growth potential that has been prevented by lack of financial resources.
The President discussed the new initiative in an address to about 170 business leaders, reports Tanzania’s Daily News. The initial phase will focus on increasing intra-regional trade in East Africa Community (EAC) countries, with a goal of increasing exports to the U.S. by 40 percent.
“I’m calling for America to up our game when it comes to Africa,” said Obama. “There’s no question Africa’s on the move, but it’s not moving fast enough for the child still languishing in poverty in forgotten townships.”
As a part of the plan, the U.S. will invest in energy, infrastructure, water and agriculture in order to promote trade.
Image: White House Twitter