*(CNN)* -- U.S. President Barack Obama pledged $7 billion Sunday to help
combat frequent power blackouts in sub-Saharan Africa.
Funds from the initiative, dubbed Power Africa, will be distributed over
the next five years.
"More than two-thirds of the population of sub-Saharan Africa is without
electricity, and more than 85% of those living in rural areas lack access,"
the White House said in a statement.
Sub-Saharan Africa will need more than $300 billion to achieve universal
electricity access by 2030, the statement said.
The preliminary setup will include Ethiopia, Kenya, Liberia, Nigeria ,
Tanzania, Uganda and Mozambique.
"These countries have set ambitious goals in electric power generation, and
are making the utility and energy sector reforms to pave the way for
investment and growth," the statement said.
Obama's announcement came during his trip to South
Africa<
http://www.cnn.com/2013/06/30/world/africa/south-africa-obama-visit/index.html>,
the continent's biggest economy. The visit is part of his three-nation trip
that started in Senegal and will end in Tanzania this week.
The trip aims to bolster U.S. investment opportunities, address development
issues such as food security and health, and promote democracy.
It comes as China aggressively engages the continent, pouring billions of
dollars into it and replacing the United States as Africa's largest trading
partner.
Obama applauded China's investment in Africa, saying he is "not threatened
by it."
Africa's greater integration into the global economy will benefit everyone
with the potential creation of new jobs and opportunities, he said.
"I'm here because I think the United States needs to engage with a
continent full of promise and possibility," Obama said. "It's good for the
United States. I welcome the attention that Africa is receiving from China,
Brazil, India and Turkey."
However, he urged African officials to ensure that those who invest in the
continent and its natural resources benefit Africans in terms of jobs and
others.
Before he leaves South Africa on Sunday, Obama will also visit Robben
Island, where anti-apartheid icon Nelson Mandela spent a majority of his 27
years behind bars. He will also address citizens at Cape Town University,
the same site of a popular speech by Robert F. Kennedy at the height of
apartheid in 1966.
He then heads to Tanzania, where he is scheduled to attend events until
Tuesday.
Received on Sun Jun 30 2013 - 12:41:01 EDT