Emerging and frontier markets are a focal point of this year’s World Economic Forum in Davos, Switzerland, which takes place during the week of January 19. One of the sessions, “Achieving Africa’s Growth Agenda,” is of particular interest to me. Our team still believes Africa overall has good long-term potential despite some near-term obstacles, one being the recent drop in oil prices, which could negatively impact countries that are highly dependent on oil revenues. We believe infrastructure investment will be a key driver of economic development in Africa and that, of all aspects of infrastructure, the provision of electric power is among the most important. Statistics on power shortages, particularly in Sub-Saharan Africa, make for sobering reading. US Energy Information Administration statistics state that in 2011 the whole of Sub-Saharan Africa possessed only 78 gigawatts of installed generation capacity, of which South Africa accounted for 44 gigawatts. By comparison, installed capacity in the United States alone was 1,053 gigawatts.