On November 12, Power Africa and Africa50 signed a memorandum of understanding for a new partnership focused on attracting power sector financing and developing innovative public private partnership models in sub-Saharan Africa.
Africa50 will be the nineteenth development partner to join the Power Africa initiative. This new partnership between Power Africa and Africa50 provides a foundation for collaboration in the energy sector at the country and regional level throughout sub-Saharan Africa.
The MOU was signed at this year’s Africa Investment Forum in Johannesburg.
Speaking at the signing ceremony, Koffi Klousseh, Africa50’s Project Development Director, stated, “energy generation and transmission are among the most pressing infrastructure needs in Africa, with important economic multiplier effects. To successfully develop energy sector projects requires collaboration among all stakeholders, so we are pleased to partner with the Power Africa initiative and look forward to working with its experienced member companies and organizations to implement power projects on the continent.” Power Africa was represented by Richard Nelson, Power Africa Deputy Coordinator, who commented, "this new partnership underscores Power Africa’s commitment to partnering with African institutions. We are looking forward to deepening our collaboration with Africa50 to finance new energy and transmission projects in sub-Saharan Africa."