Article: Africa Power

[TysonRoux]

http://us.cnn.com/2013/06/30/world/africa/south-africa-obama-pledge/index.html?hpt=hp_t2

Obama pledges $7 billion to upgrade power in Africa

The ANC scabs eyes most likely lit up with that announcement

Two-thirds of the population of sub-Saharan Africa lacks access to electricity, including more than 85% of those living in rural areas, the White House said.

It will be no different in 10 years from now, more likely worse, with Zimbobwe a prime example.

 

[KleinBoontjie]

Obama pledges $7 billion to line the pockets of top officials from Africa

FTFY

 

[rpm]

You can view the page at http://mybroadband.co.za/vb/content.php/7105-Africa-Power

 

[rpm]

President Barack Obama announced Sunday a 7-billion-dollar US government investment in power networks in Africa as well as plans to invite African leaders to a summit next year to launch a "new chapter" in relations.

Before more than 1,000 students at the University of Cape Town, Obama lamented that about two-thirds of Africans lack regular electricity. He said power was a key element of generating growth that lifted people out of poverty.

 

[King_Anon]

I watched that live thing from University of Johannesburg. People stop crying and vote for something else.

 

[intel8080]

What, is that all? I expected more promises from him. Did he not learn anything from Zuma?

 

[Roo!]

USA is broke. Where is he going to get this type of cash injection from? Oh ja, he holds the keys to the printing press :wtf:

 

[Solarion]

These American's don't learn, most of the money they send here goes straight to our politician's pockets. This is such a stupid idea.

 

[agentrfr]

USA is broke. Where is he going to get this type of cash injection from? Oh ja, he holds the keys to the printing press :wtf:

Refer to rule 10 of Monopoly the board game.

 

[grok]

He said power was a key element of generating growth that lifted people out of poverty.

So is not stealing from the taxpayer .. but you don't hear Obama reprimand Zuma & the ANC for that. Oh no, give them corrupt pilferers access to more donated money, yeah that's the solution that's gonna work. :erm:

 

[MKFrost]

How much did Eskom go and borrow a while back, was it not in the region of R32b (+-US$3.5b @ todays rates)?

Means we would need about half of what he is offering just to settle Eskom's outstanding debt?

 

[sox63]

The terms and conditions of this "partnership" no doubt includes preference for US energy companies like General Electric. We should steer clear of this funding IMO, the sub saharan states who have difficulty raising money via bonds and other debt, will jump at this though

 

[MKFrost]

Only reason Obama came to Africa was to try and counter the Chinese who are investing (raping) in the continent in a big way.

 

[Mila]

Africa is a big continent.

 

[Rkootknir]

How much did Eskom go and borrow a while back, was it not in the region of R32b (+-US$3.5b @ todays rates)?

Means we would need about half of what he is offering just to settle Eskom's outstanding debt?

That was just the loan from the World Bank. They had about R166 billion total debt (bonds & borrowings) in their 2012 financial statements.