American President Barack Obama recently revealed that his country would invest seven billion dollars in energy projects in sub-Saharan Africa over the next five years to increase both power generation and access to electricity.
Countries that will benefit from the initiative are Ethiopia, Tanzania, Liberia, Ghana, Nigeria and Kenya – selected for their promotion of good governance. Zimbabwe has not enjoyed good relations with the US for the past 13 years due a poor human rights record and bad governance.
Economic analyst Kipson Gundani said Zimbabwe could not benefit from the investment because of the lack of engagement between the two countries, but added that if other countries in the region were benefiting there could be spill-overs into Zimbabwe.
The Africa Power project is expected to take the form of public and private sector partnerships. Private finance is expected to add $9 billion to the $7 billion allocated by the government. It is estimated that more than two thirds of people in the region do not have access to electricity. Energy Minister Elton Mangoma told The Zimbabwean that Zimbabwe had not been approached to be part of the project. Many analysts have pointed to the lack of political stability and controversial policies such as the land reform programme and indigenisation policies as hindrances to the flow of foreign direct investment.
According to the analysts the international business community views Zimbabwe as a country that does not respect property rights.
Post published in: News
Let Barak Obama give his energy investments to his friends.We are certainly not his friends.
Obama thinks that he can colonise us using electricity again,, foolish boy,, please zimabwe dont take the electricity lets get our own BOTs from China..