Siemens Signs MoUs with Uganda, Sudan for Power, Infrastructure
Thursday, May 04, 2017 | Comments

Siemens will work more closely with the African countries Uganda and Sudan in the areas of power supply, industry, transportation and healthcare. The African states signed a memoranda of understanding (MoU) at the World Economic Forum 2017 in Durban, South Africa.

“Africa’s economies are gaining ground and can develop their full potential with the right partner,” said Joe Kaeser, president and CEO of Siemens AG. “Siemens wants to support their sustainable development with solutions and projects in Africa, for Africa. The agreements with our African partners are important steps along this path. Our goal is to double our order intake in Africa to more than €3 billion (US$3.3 billion) by 2020.”

Another key point in the agreements relates to continuing training programs for various technical fields to create a pool of well-trained local workers. Furthermore, Siemens is joining the Make IT Alliance of the German Federal Ministry of Economic Cooperation and Development to promote startups and technology companies across the African continent.

Spending on African infrastructure has more than doubled to $80 billion during the past 15 years, and the aspiring urban centers offer growth opportunities for the entire continent. More than 1 billion people worldwide have no access to electric power, and half of those people live in Africa. In Uganda and Sudan, Siemens’ primary goal is to increase national power-generating capacities and to connect the local population to the power grids. A reliable and extensive power supply system is the fundamental prerequisite for economic growth.

African countries need infrastructure and industrial projects that generate sustained income streams to fully exploit their own economic potential. New financing concepts and long-term investment guidelines that will remain in effect for 30 years will create a stable investment climate for international investors and help to implement planned infrastructure projects. Siemens has already developed financing solutions for its megaproject in Egypt and power plant projects in Nigeria and is supporting its African partners’ efforts to implement these major infrastructure projects.

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