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Ngba Digital Time

Political Heads, Energy Stakeholders To Review 16 Bankable Projects In Africa

Political Heads, Energy Stakeholders To Review 16 Bankable Projects In Africa

VENTURES AFRICA – Reversing Africa’s sketchy power history has been a priority for a spectrum of concerned stakeholders including governments within and outside the continent; as more traction is gained in this area, about 16 bankable energy projects are set to be presented at The Global African Investment Summit (TGAIS) next week Monday, 20th October, 2014 and Tuesday, 21st October, 2014 at the Savoy Hotel in London.
The projects will be coming from Ghana, Rwanda, Tanzania and Uganda and they have been designed to be attractive to investors. Ghana is to present renewable energy projects, Nigeria to showcase a gas fired solution, while Rwanda and Kenya will bring forth methane and biofuel projects respectively.
Apart from the Presidents of the respective countries, a variety of energy players are also expected at the summit including the likes of Seplat, Globeleq, LNG, Sepco and Mozambique.
Dr Orijiako, Chairman of Seplat, who is expected to speak at the event has been quoted as saying; “There is no region with the same investment prospects that Africa presents, especially in the extractive, infrastructure and services industries. Because of the infrastructure gap in the continent and growing domestic demand, we find that there is huge potential for investment in the energy market.”
Andrew Herscowitz, coordinator for President Barack Obama’s Power Africa and Trade Africa initiatives, is expected to speak on ‘Powering Africa: Opportunities and financing options in Africa’s power sector’. He believes the summit will come in handy to further close the huge energy gaps on the continent, however, he stresses the importance of ensuring the projects are investor friendly.
In his words, “the risks when raising finance and executing projects are such that we have seen a shift where there is more interest from clients in companies looking to finance projects than there are projects. So one of the things we will have to do is work with projects to make sure they are bankable.”
The summit, which will be chaired by former President of Nigeria Olusegun Obasanjo, aims to secure direct funding from some of the world’s largest institutional investors into projects from Ghana, Rwanda, Tanzania and Uganda. According to the TGAIS website, the conference will feature presentations from the Presidents of the nations concerned and outline the policy frameworks, policy reforms and the positive political stability and governance that provides investors with favourable investment conditions, equitable returns to foreign direct investment, and competitive investment opportunities for international investors.

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