As Africa enters its 20th consecutive year of economic expansion, with the World Bank forecasting that Africa’s GDP growth will remain steady at 4.7 percent in 2014, and strengthening to 5.1 percent in each of 2015 and 2016, the continent needs more electric power. Specifically, Africa needs to add 7,000 MW of generation capacity each year to meet the projected growth in demand, yet it has achieved only 1,000 MW of additional power generation annually.
Today President Obama will welcome leaders from across the African continent to the Nation’s Capital for the first of its kind U.S.-Africa Leaders Summit. This three day summit, is meant to further strengthen U.S.'s ties with one of the world’s most dynamic and fastest growing regions.
(12 June 2014, Addis Ababa)—Twenty CEOs of Ethiopian companies joined together to discuss the importance of responsible practices to their business strategies at the UN Global Compact CEO Roundtable on Corporate Social Responsibility in Ethiopia.