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Barack Obama Breaking News: Obama's Power Africa Backer Calls Weak Competition an Investment Incentive


Nigerian businessman Tony Elumelu, who backed President Barack Obama's Africa Power initiative with a $2.5 billion investment pledge, said the lack of competition in the continent's nascent power sector makes it an investment gem.

Barack Obama urged Egyptian President Mohammed Morsi to listen to "the voices of all Egyptians" amid widespread protests calling for the Islamist's ouster. Morsi rejected the army?s call in a statement by saying his administration would continue on its "previously plotted path" toward reconciliation. Violence during the protests at the weekend saw 16 people killed and hundreds injured.

Democratic President Barack Obama and Republican predecessor President George W. Bush found common ground in Africa, honoring the victims of a terrorist attack in an unprecedented encounter a world away from home.