Addis Ababa (HAN) May 28, 2014 – Geeska Afrika Online Trade and Investment News. According to the International Energy Agency, sub-Saharan Africa needs more than $300 billion in investments to achieve universal electricity access by 2030 – far beyond the capacity of any traditional development program.
Africa is home to seven of the ten fastest growing economies in the world, and helping U.S. business expand their presence in these African markets is a top priority for the Department of Commerce and the Obama Administration. There is tremendous potential for U.S. companies to sell their goods and services in countries like Ghana and Nigeria, which have energy needs that our firms have the goods, services, and expertise to address. Expanding trade and investment is a critical tool for economic growth and job creation in the U.S., and trade missions like this one are one way to help grow U.S. exports.
In Addis Ababa, During discussions with Ethiopian President, Dr. Mulatu Teshome, U.S Secretary of Commerce, Ms Penny Pritzker, who was heading a business delegation from 21 companies, announced that U.S would be opening an office in Ethiopia to follow business affairs.
Ms Penny Pritzker expressed her country’s interest in strengthening economic and business ties with Ethiopia, adding that since Ethiopia was a stable and a peaceful country endowed with lots of investment opportunities a favorable environment had been created for US investors.
Ms Penny Pritzker also expressed U.S investors’ interest in water, wind and solar energy sectors. The U.S Secretary and the Ethiopian President also discussed on the issue of stretching the time frame for the tax free season provided for the U.S government for African exports to the United States.
Based on her strategic trip to Africa, Ms Pritzker, the U.S. Secretary of Commerce is committed to helping U.S. businesses increase their global fluency, and the upcoming trade mission is a major opportunity to connect U.S. company products, services, and expertise to support Africa’s economic growth potential.
U.S investors (Companies) willing to invest Africa’s emerging market with Secretary Pritzker on the trade mission to Africa include:
- ABB Inc. (Cary, NC)
- Acorn Energy, Inc. (Wilmington, DE)
- Alpha Energy and Electric, Inc. (Kansas City, MO)
- Canary, LLC (Denver, CO)
- Candies Shipbuilders (Des Allemands, LA)
- Cargill (Minneapolis, MN)
- ECC (Burlingame, CA)
- Ellicott Dredges, LLC (Baltimore, MD)
- Electric Knowledge Interchange (Chicago, IL)
- GE (Fairfield, CT)
- Hightowers Petroleum Co. (Middletown, OH)
- HPI (Houston, TX)
- Intermarine, LLC (Houston, TX)
- MacLean Power Systems (Fort Mill, SC)
- PW Power Systems (Glastonbury, CT)
- Scimitar Global Markets, LLC (Stamford, CT)
- SEWW Energy, Inc. (Charlotte, NC)
- SolarReserve (Santa Monica, CA)
- Symbion Power LLC (Washington, DC)
- Unified Electrics, LLC (Longview, TX)
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