Village Power 2000 Home
Village Power 2000
All Sections
Potential for US investment in Africa
by Robyn L
Africa / US Energy Ministerial Conference & Women in Energy

Durban, South Africa •• Dec. 14, 2000 •• SolarQuest® iNet News Service •• The US Under-Secretary of Energy, Ernie Moniz, gave a lecture today concerning the potential for US investment in the African Energy Sector.

He began his speech by explaining that although Africa has recently evolved, and is involving themselves in many projects to encourage good inter-African relations, "cross-border co-operation" must continue to grow. He stated that the value of collaboration between African counries would result in accelerated economic growth and an increased resource base. This, in turn, would result in the improvement of infrastructure.

Mr Moniz continued that energy revenues equal a large source of income. If these resources were managed properly, economic growth would occur and again this would result in the improvement of health and education services and it would be a start towards poverty alleviation.

Mr Moniz believes that privatisation would result in increased efficiency, and that US investors are ready and willing to assist. He explained that due to Africa's politically unstable history, it hasn't realized it's potential. Here, Mr Moniz claimed, the US could help by encouraging investors.

Mr Moniz stated that the challenges that lay ahead for Africa were as follows:
• the absence of privatisation
• there has been no progress in pricing structure refroms
• there is a distinct lack of public awareness about energy issues
• due to apparent political instability, investors were scared away by the high risk investment that Africa offered.

Mr Moniz believes that to meet these challenges, rural development must be encouraged. Africa must strengthen her capacity to manage and minimize the environmental impact of her people, and renewable energy sources must be promoted to reduce greenhouse gass emissions.

Mr Moniz concluded that the most important factor in assisting Africa's development was to encorporate the private sector into projects and enterprises.

Top iNet News Stories: All Sections
Durban Press Conference Notes
Tala Excursion
Interview with Minister of Energy and Minerals, South Africa
Declaration De Durban (Français)
Valley of 1000 Hills Photo Essay
No sense in re-inventing the wheel, says Caravatti
Energy and health
Solar Energy in rural Kwazulu Natal
A tour to Myeka High School connected with solar energy
Butanization Programme in Senegal
Energy role in poverty alleviation
Sudan says: It`s no big thing ...
Potential for US investment in Africa
Women Challenge decision making process
Zanele Zunga joins the team
Deputy Ministers Speech
Wendy Annecke`s report on Energy Laws and Their Impact on Women
Durban Declaration
Some approaches to Clean Technologies
A good effort, but more must be done: ESMAP
You are now viewing headlines 1 through 20.    Next >>

© 1998-2007 • EcoSage
contact info