US politician Scott Taylor strengthens US-Africa relations by participating in African Energy Week in Cape Town
American politician Scott Taylor has confirmed his presence and participation in the upcoming African Energy Week (AEW) 2021, which will take place in Cape Town on the 9e-12e November 2021. With extensive experience in international relations, Taylor’s participation will lead to a discussion of global energy cooperation with a focus on strengthening US-African partnerships and connecting service providers, financiers and American stakeholders with competitive African projects.
Taylor will lead a delegation of industry leaders and U.S. service providers to AEW 2021 in Cape Town with the aim of presenting African opportunities to American businesses, promoting increased collaboration and engagement. Previously a member of the Virginia House of Delegates for the 85e District, Scott Taylor served as the United States representative for Virginia’s 2sd Congressional District from 2017 to 2019. Former Navy Seal, serving from 1997 to 2005, Taylor moved from military service to politics, working in security consulting and critical infrastructure protection in between. Taylor’s legislative accomplishments include laws relating to energy, labor, and veterans issues. Its participation should further promote American-African lines of communication in energy, infrastructure and investment.
The United States has already made notable progress in growing Africa’s energy sector through established partnerships and investment agreements. All along the energy value chain, American companies have played a vital role in the development of African projects. US multinational oil company ExxonMobil, for example, is one of Africa’s largest foreign investors, with more than $ 24 billion committed to energy exploration and development. In addition, the American company Chevron, responsible for important discoveries across Africa, ranks among the main oil producers in Nigeria and Angola. As Africa fosters economic growth supported by targeted energy developments and the United States aims to increase penetration of emerging African markets, one can expect a rapid increase in investments directed to Africa.
Meanwhile, with the Biden administration calling for strengthened partnerships with African economies and initiatives such as Prosper Africa promoting increased economic engagement between the United States and African countries, capital injections into African markets are expected to increase. In the tradition of Prosper Africa, YOU SAID launches $ 500 million trade and investment program to facilitate more deals between U.S. and African businesses. In addition, the World Bank, in partnership with YOU SAID, allocate $ 5 billion in investment in sub-Saharan Africa’s energy sector by 2024; the addition of 3.3 GW-hours of energy storage funded by 2024; support 60 million new connections by 2030; the addition of 5,000 km of transport infrastructure – built or rehabilitated – by 2030; and support 30,000 MW of new energy production by 2030.
“Africa represents the most promising investment destination in the world with significant potential in multiple facets of the energy sector. As the continent aggressively pursues both a COVID-19 recovery and accelerated economic development, many opportunities presented themselves to American players. The United States has a vital role to play in African markets. AEW 2021 is the best platform for American companies to discover African opportunities, driving engagement, investment and the signing of deals that will accelerate African growth, ”said NJ Ayuk, Executive Chairman of the African Chamber of Commerce. energy.
Taylor is an advocate for expanding energy developments, recognizing the potential of the sector to create jobs and spur economic development. Taylor’s participation is expected to open a dialogue on improving US-Africa relations, highlighting America’s role in Africa’s energy growth and development. Drawing on his background in international relations and diplomacy, Taylor is committed to fostering multilateral energy progress between the United States and Africa.
In addition, Taylor’s participation in AEW 2021 is expected to promote engagement, respond to risk perceptions, and showcase Africa as the top investment destination for US stakeholders. With developments in the energy sector constituting a key priority for African stakeholders and international partners, Taylor’s participation in AEW 2021 will lead to a partnership narrative, fostering increased collaboration between U.S. technical and financial service providers and emerging African projects
AEW 2021 will showcase Africa’s best energy opportunities through hosted pavilions, interactive exhibits and key networking events, generating long-term investments in Africa’s energy sector. By presenting a range of lucrative investment opportunities across the entire value chain, including, but not limited to, oil, natural gas, power infrastructure, renewables and energy storage energy, AEW 2021 will be a key enabler and driver of investments directed to Africa.
Distributed by APO Group on behalf of the African Chamber of Energy.
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