M a r k e t N e w s

Green Energy Development in Kenya, Says Ruto

Posted on : Monday, 26th September 2016

 Davos — The Government plans to provide electricity to at least 70 percent of Kenyans in the next three years, Deputy President William Ruto has said.

Speaking in Davos, Switzerland, Ruto said the government had engaged in the ambitious project including infrastructural development so as to spur economic growth. He said Kenya wanted to create the environment that will attract investment to the country and create employment.

"Kenya is looking forward to generating clean energy. In the next three years, we will have 300 percent supply of electricity. We want it to reach 70 percent of our population."

He said with cheap power supply and good infrastructure, entrepreneurs will find Kenya a good place for their investment.

The power project is funded by the African Development Bank.

Former U.S. Vice President Al Gore hailed Africa and particularly Kenya on the use of mobile phone money transfer. He said Africa needed to light up homes and industries for development to be realised.

Speaking at the same meeting, Gore, the chairman of Generation Investment Management, said Africa was proving itself in matters of technology.

Mali President Ibrahim Boubacar, Ivory Coast Prime Minister Kablan Duncan and Nigerian business magnate Tony Elumelu also addressed the meeting.

Later, Ruto also addressed the meeting on food security situation in Kenya and how to improve the image of the African continent.

Elumelu, who is an investor in the energy sector, asked African countries to provide the necessary environment for the private sector to prosper.

More than 600 million people Africa do not have access to reliable energy, which limits their quality of life and development.

The forum that included investors, Governments and developers explored ways of financing, new technology and business models including off-grid distributed energy solutions that can be developed to provide more people with power.

Source : http://allafrica.com/stories/201501231575.html
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