By: Forbes Real Time
July 01, 2013 at 12:39 PM EDT
Obama's 'Power Africa' Plan Greases Billions In Deals For General Electric
In Cape Town, South Africa over the weekend, President Obama talked about a new energy plan called "Power Africa." He described it as "a new initiative that will double access to power in sub-Saharan Africa." The president implied that the U.S. government will invest $7 billion in taxpayer money to help bring 10,000 mw of electricity to sub-Saharan Africa. Electricity, he said, is "the lifeline for families to meet their most basic needs and it's the connection needed to plug Africa into the grid of the global economy. You've got to have power."
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