Energy Infrastructure Development helps economies
Daily Monitor (Uganda): Investment in energy will improve the sector
According to an article in the Daily Monitor, "Power tariffs in East Africa are 5 to 10 times higher than in Egypt or South Africa." East Africa's power shortage issues demand increased private investments in alternative power sources. Shortages threaten economic stability, as well as the livelihood and security of people. With power tariffs already costly, any increase would make doing business more expensive.
Godwin Muhwez, author of this article highlighting the need for private investment, is a Communications Officer of the East African Business Council. He writes, "As East Africa continues to grapple with power shortage, a meaningful public-private partnership that goes beyond just catering for the interests of large investors and premised on good return for the private sector, will perhaps solve the current conundrum."
Hurdles to private sector investment such as these are the reasons why Richmond Development has the niche that it does. By serving as a one-stop-shop for financing, engineering and construction for energy infrastructure development, Richmond Development answers the call as governments seek to strengthen their ability to open markets for power generation.