US investment agency hints at Trump era business ties
The team’s visit to Nairobi weeks before Donald Trump takes the leadership mantle is likely to calm nerves over the fate of the multi-billion shilling Power Africa project. PHOTO | AFP
Officials of a US investment agency are in Kenya to assess investment opportunities, raising hope of continued business ties even as anxiety grows over change of guard in Washington.
The United States Trade and Development Agency’s (USTDA) Power Africa and Renewable Energy team arrived in Nairobi to identify new partners and projects for funding through grants.
They are seeking viable projects in energy, information technology and transport sectors.
“We haven’t funded projects this year. We are still identifying the projects.” Brandon Megorden, renewable energy sector manager for sub-Saharan Africa told the Business Daily in an interview last week.
The US financial year cycle begins in October and ends in September. “We are just getting started with this year’s fiscal budget, but the value of these projects is evaluated between Sh500 million ($5 million) and Sh600 million”.
The USTDA works to create export markets for US firms. Its return to Nairobi just weeks before Donald Trump takes the leadership mantle is likely to calm nerves over the fate of President Barack Obama’s multibillion shilling Power Africa.
It is widely feared that Mr Trump’s America may adopt inward looking policies that relegate continents such as Africa to the periphery.
Mr Megorden said USTDA is in Kenya to look for projects with mutual economic benefits to both countries and are in line with Kenya’s development priorities.
Power Africa Country Manager Joanna Hecht said the US government led initiative launched by President Obama in 2013 still has the goal to deliver more than 30,000 megawatts.
“Power Africa works with African governments and private sector partners to remove barriers that impede sustainable energy development in sub-Saharan Africa and to unlock the substantial wind, solar, hydropower, natural gas, biomass and geothermal resources on the continent,” said Ms Hecht.
In September, the US government announced support for six projects — Gitaru Solar Plant, Nyakwere Hills Solar Plant and Solar Microgrid Solutions for Island and Village Electrification.
Others are Olkaria Geothermal Power Plant, the Lamu Gas-to-Power Project and Isiolo Solar Power Plant.
The projects are aimed at increasing access to affordable and reliable electricity across Kenya while also helping to diversify the country’s energy mix.
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