US President Barack Obama promised US$7 billion towards providing electricity to some African countries (photo:dpa)

Africa powers ahead with help of foreign investment from BRICS nations

Economic growth and development in sub-Saharan Africa is being held back by a lack of access to electricity. US President Barack Obama has pledged a US$7 billion initiative to tackle this lack of power. But foreign investment and trade from China, India and Brazil - in return for raw materials and natural resources - will power the growth and success in the economies of African countries.

<i>United States President Barack Obama has committed US$7 billion to providing electricity production for a number of African countries. Most sub-Saharan African countries have little access to even a small part of the energy developed parts of the world routinely use every day. But America’...

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 Nick Loris
Only a quarter of the population in sub-Saharan Africa has access to electricity compared with 80 per cent in Latin America, the Middle East and Northern Africa and half the population in south Asia, according to the World Bank
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