Browsing: US-Africa investments

• US companies’ entry into Libya will solidify Tripoli’s global oil market wild card role in stabilizing an already weary industry.
• American Chamber of Commerce in Libya (AmCham Libya) has partnered with Energy Capital and Power for the November 8-9 Libyan Energy and Economic Summit in Tripoli.
• Libya boasts of the greatest proven crude oil reserves in Africa totaling 48.4 billion barrels as of 2021.

A new partnership is promising to open doors for US energy companies in Libya, the frontier that is becoming the world’s oil market wild card. The move will further solidify the North African country’s oil industry’s pivotal role in stabilizing an already weary global energy market.

Libya’s oil market wild card status

While Libya is a member of the Petroleum Exporting Countries (OPEC) oil cartel, the country is enjoying oil market wild card status. Internationally, Libya is not bound by OPEC’s crude output caps due to …

• About 80 percent of trade in East Africa goes through Kenya’s Port of Mombasa.
• Kenya is a top destination for venture capital on the continent.
• Renewable sources account for the majority of Kenya’s on-grid electricity production.

The top American diplomat in Nairobi Meg Whitman is turning out to be one of the biggest marketers for Nairobi, calling for increased US investments in Kenya and across Africa.

Kenya and many economies in Africa have a significant number of relatively untapped industries. Emerging sectors such as technology, e-commerce, financial services, healthcare, and energy offer substantial potential for growth.

“When I was a CEO–I’ll be honest–I probably thought of Africa about 1 per cent of the time. Many of the businesses I managed were heavily invested elsewhere. But if I were back in the boardroom today, Africa would be on my radar for two simple reasons: supply chain diversification and net-zero emissions,” Ambassador …