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Thursday, 30 October 2014 09:35

African and Norwegian Leaders Discuss Infrastructure

optimPRESS RELEASE

OSLO, Norway, October 30, 2014 (NABA) — Today, 40 speakers and more than 400 African and Norwegian leaders, including 30 ambassadors from Norway and Africa, discussed how to accelerate African infrastructure through Norwegian-African work, trade and growth at the Norwegian-African Business Summit in Oslo.

H.E. John Dramani Mahama, President of the Republic of Ghana, Mr. Børge Brende, Norway’s Minister of Foreign Affairs, and Dr. Fatih Birol, Chief Economist, International Energy Agency (IEA) were among the distinguished guests who participated in this day-long forum hosted by the Norwegian-African Business Association (NABA).

 

“More than 700 million people in Africa lack electricity and the continent needs more investments in renewable energy. So I am pleased to announce that Norway will contribute NOK 300 million to Green Africa Power, a new fund to stimulate private sector investment in renewable energy in sub Sahara Africa.

Energy is a key to development and the private sector has a key role to play,” said Børge Brende, Norway’s Minister of Foreign Affairs. “With this commitment, we join the UK Government in financing renewable energy generation, reducing carbon emissions and improving the supply of clean energy to millions of people in Africa.”

“When people meet, knowledge is shared and opportunities appear. The conversations at the Norwegian-African Business Summit increase understanding of the African continent, and accelerate investments, partnerships, and growth in infrastructure in Africa. Infrastructure is what economies need to flourish,” says Eivind Fjeldstad, Managing Director of NABA. “We are proud to announce that NABA is opening an office in Nairobi, Kenya. Felix Osok will be the Regional Director for East Africa. This cements our commitment to Africa and the East African market where we will continue to open opportunities in oil and gas, aquaculture, forestry and wood processing.”

"Today is an opportunity to invest in Africa. The risks are not as high as perceived. It is smart business," says James Mworia, CEO, Centum Investments. "Investment in infrastructure, and especially power, is critical to enhancing the productive potential of Africa. At the same time, it is an opportunity to create numerous other investment opportunities and sustainably improve human welfare."


The President of the Republic of Ghana delivered a keynote address on the Summit’s theme “Mapping the African Infrastructure Landscape.” He showcased Ghana’s success story and the need for the international business community to support and encourage that development.

About the Norwegian-African Business Summit

The Norwegian-African Business Summit in 2014 is the fourth of its kind. It is the largest Nordic business conference on Africa. 35 speakers and more than 400 African and Norwegian leaders, including 30 ambassadors from Norway and Africa, attended this year’s summit themed “Mapping the African Infrastructure Landscape.” The parallel sessions focused on case studies within chosen sectors: impact investment, renewable energy, agribusiness and aquaculture, oil and gas.

About the Norwegian-African Business Association (NABA)

The Norwegian-African Business Association (NABA) is the only Norwegian-African chamber of commerce. It seeks to promote business opportunities on the African continent and serves as a bridge between Norwegian and African business communities.

NABA analyzes the current landscape, advocates for more, better and safer business collaboration between Norwegian and African business communities and hosts events for its 83 member companies.

These events include investor trips, ambassador breakfasts, member luncheons, seminars and workshops as well as today’s annual Summit. NABA was founded by the Confederation of Norwegian Enterprise (NHO), Virke - The Enterprise Federation of Norway, Norfund, Statoil, Yara International, Nortura, Jotun, The Norwegian Shipowners' Association and Innovation Norway.

 

 
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