From All Africa

The Africa Finance Corporation (AFC) has disclosed plans to invest over $250 million in the power sectors in Nigeria, Ghana and Kenya.

The corporation also said it would also accelerate the investment of another $1billion in additional in sub-Saharan Africa energy projects.

A statement from the AFC, also announced that the corporation would be a key partner in the five-year $7 billion power initiative for Africa announced by the US President, Barack Obama during his recent visit to the continent.

The US Power Africa Initiative, coordinated by the United States Agency for International Development (USAID), is a multi-stakeholder partnership between the United States government, the Overseas Private Investment Corporation (OPIC); the US Export-Import Bank (Ex-Im); the Millennium Challenge Corporation (MCC); US Trade and Development Agency (USTDA) among others.

Read more at allafrica.com