Kenya Is An Investment Magnet For Multinational Energy Companies
Yesterday we ran an article about how much it would take to fix all the power problems endemic to sub-Saharan Africa. According to McKinsey & Company, it would take $835 billion to fix all sub-Saharan Africa energy problem, with Nigeria alone needing $350 billion.
While the prospects sound daunting on paper, it is even more daunting to think about where such type of capital investment will come from. So it begs the question, will the African governments be able to meet such colossal investments? Well, if precedent is anything to go by, we should expect the private sector to rise to the occasion and meet this capital demand; particularly the foreign investors. But the Ethiopian government has set a better precedent by funding the construction of the Grand Inga without foreign investments.
Be that as it may, Kenya is fast charming multinational companies interested in investing in the energy sector. The country has viable investment opportunities in the renewable energy and oil and gas industry, which has got several big multinational investors lining up with …read more
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