The US-Africa Summit on Energy shall be an annual event that would seek solutions to the debilitating shortage of power supply in sub-Saharan Africa. The summits would especially emphasize the salient fact that the model of centralized power supply as practiced in many African countries is no longer serviceable in a 21st century economy, and that decentralization and privatization provide a sustainable trajectory of growth and reliability. The inaugural summit of 2017 articulates the first steps in this promising enterprise of collaborative initiatives; it is co-convened by the International Business Resource Center (IBRC) at the University of Wisconsin-Platteville, and the Council on African Security and Development (CASADE).
Highlight of benefits to participating African firms/investors:
- Better understanding of power generation and distribution under a decentralized regime
- Access to modern power generation and distribution equipment and technologies
- Access to advanced technologies for harnessing renewable energy, and utilization in power generation —solar, wind, biomass, and natural gas
- Billing and revenue recovery systems, and smart metering technologies for efficient and reliable revenue collection
- Access to established US energy companies for collaborative and partnership opportunities
- Funding opportunities with private investors willing to provide debt and equity financing of energy projects
- Access to equipment and software producers and suppliers
- Training and consultancy opportunities
- Waste management, environmental protection, and public safety measures.
Highlight of benefits to US participants:
- Exposure to international energy firms, and expansion of customer base
- Opportunity to offer international participants their products and services, and build long-term business relationships
- Export opportunities for products and services from US firms
- Investment opportunities for private equity funds and investors seeking areas of rapid growth
- Training and consultancy opportunities for US firms
- Access to funding provided by “Power Africa,” a USAID administered program to fund energy projects in sub-Saharan Africa.