US secretary of commerce to visit Ghana, Nigeria

U.S. Secretary of Commerce Penny Pritzker is to lead 20 American companies on an energy business development trade mission to Ghana and Nigeria later this month, the state-run Ghana News Agency (GNA) reported here on Friday. The GNA, quoting a statement from the office of the U.S. Secretary of Commerce, said Pritzker and his delegation would be visiting Ghana and Nigeria from May 18-23, adding that the fast- growing economies in Africa were a high priority for U.S. President Barack Obama's administration and the Department of Commerce. "Expanding trade and investment is a critical tool for economic growth and job creation in the U.S. and trade missions to help grow U.S. exports," the statement said. It said Africa was home to seven of the 10 fastest growing economies in the world, and helping U.S. business expand their presence in these African markets was a top priority for the Department of Commerce. The Department's International Trade Administration in the coming months, it said, would more than double its presence in Africa, opening their first-ever offices in Angola, Tanzania, Ethiopia and Mozambique as well as expanding its offices in Kenya, Ghana, Morocco, and Libya. "With these critical investments, the Department of Commerce would be able to increase assistance to U.S. businesses navigating markets in Africa, and help them sell their goods and services in even more places around the world," it stated. The Obama administration approved the Presidential Policy Directive (PPD) on Sub-Saharan Africa on June 14, 2012, which has become known as the U.S. Strategy toward Sub-Saharan Africa. According to the strategy, Africa holds the promise to be "the world's next major economic success story." This is the first time that promoting U.S. trade and investment has been a cornerstone of a PPD on Sub-Saharan Africa. The statement said, with more than 600 million people in sub- Saharan Africa lacking access to electricity, the power development challenge was enormous. It is estimated that more than two-thirds of Africa's population are without electricity, including more than 85 percent of those living in rural areas. The International Energy Agency states that Sub-Saharan Africa needs more than 300 billion dollars in investments to achieve universal electricity access by 2030, which is far beyond the capacity of any traditional development program. The statement further emphasized that U.S. firms joining the mission had the expertise to help African countries develop and manage energy resources and systems, as well as build out power generation, transmission, and distribution.