afric-Invest
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Billions for Africas Energy
Energy is a scarce resource in many African countries. It is estimated that less than 40 percent of the inhabitants of the continent have regular access to electricity. Especially bad is the supply of energy sub-saharan region. According to UNESCO, this is the only region in the world, where the absolute amount of people without access to electricity even increases.
To meet this need, even approximately, a major expansion of electricity generation capacity is essential. This would have to rise from 125 gigawatts installed today to an estimated 700 gigawatts in 2040. Many African countries are aware of this problem, already investing heavily in expanding its energy sector, or at least want to start in the near future with it.
Source: www.tube.de
Russian credit of 1.5 billion to Angola
Angola estimated population of 24 million inhabitants
Angola seeks to use oil to break away from oil
While the country’s oil industry is slowing down it will finance the diversification of the economy.
After this year’s dip, the IMF forecasts the oil industry will grow up by 2.25 % per year over the next five years and big investments in areas such as farming and telecoms will reduce Angola’s dependence on oil and create jobs. These plans will critically need oil to pay for the wider development. “Growth prospects over the longer term […} should be firme up during 2015, as ongoing pre-salt prospecting should help to determine the amount of commercially viable oil reserves” the IMF explained in September.
Source, The African Report, november 2014
