Egypt will carry out development of the electric connection network upon the New Partnership for Africa’s Development’s (NEPAD) request, and will cooperate with several development parties in order to implement this huge undertaking, the Minister of Electricity Mohamed Shaker announced Monday. The well management and availability of energy resources will help Africa achieve development, he said. Shaker explained that Africa aims to implement its 2063 Agenda and achieve economic empowerment with the private sector’s participation. Africa suffers from poor infrastructure in all fields and several areas do not have modern infrastructure, because of the nonavailability of power resources as well as poor transportation infrastructure, he said. Africa needs investments valuing $500 million in order to attain development while the current investments in Africa reached $50 billion while remittances are at $60 billion.

Source: Egypt Independent November 26, 2019 10:07 UTC