Browsing: US-Africa investments

Trump Biden Trump U.S.-Africa Relations
  • As President-elect Donald Trump, a man who once referred to Africa as ‘shithole countries,’ assumes office, the question remains: Can the U.S. move beyond gestures and deliver on its promises to Africa?
  • Under Democratic leadership, U.S. policy toward Africa has typically focused on programs aimed at long-term development, governance, and economic opportunities.
  • So far, however, decisively countering China’s growing economic presence in Africa has remained elusive, whether under Trump, Biden, or even Obama, a man who has Kenyan roots.

Africa has long been a continent of paradoxes for U.S. foreign policy, celebrated for its potential but too often neglected when it comes to sustained engagement. President-Elect Donald Trump’s first presidency brought this ambivalence to a head, marked by his infamous dismissal of African nations as “shithole countries.” Now, with Joe Biden having finally visited Angola at the tail-end of his term, many are left wondering whether U.S.-Africa relations are being …

  • Jamie Dimon embarks on a strategic journey in October seeking to grow the US banking giant’s footprint in Africa.
  • This will be Dimon’s return to Africa after seven years.
  • The lender’s CEO will be touring Kenya, Nigeria, South Africa, and Ivory Coast.

Jamie Dimon, CEO of JPMorgan Chase, is set to visit Africa in mid-October, marking his first trip to the continent in seven years. The head of the largest U.S. lender, with assets exceeding $4.1 trillion, will visit key markets, including Kenya, Nigeria, South Africa, and Ivory Coast, according to sources familiar with the matter.

Dimon’s visit comes as JPMorgan aims to expand its presence in Africa, a continent ripe for investment opportunities, where both sovereign debt and corporate deals are becoming increasingly attractive to global banks.

With the bank already operating in South Africa and Nigeria, this trip signals JPMorgan’s intent to deepen its foothold in African markets, …

  • The 1,300Km of railway from Zambia to Tanzania will be completed by 2029.
  • The US, UK, and others sign MoU to develop the Lobito railway project.
  • Top nickel producer Lifezone Metals secures project tender.

Nickel prospects in Tanzania have spurred the US to extend the Washington-backed Zambia-DRC railway project to the East African nation, creating a strategic link between West and East Africa. Helaina Matza, the US acting special coordinator for the Partnership for Global Infrastructure and Investment has announced US plans to expand its West and Central Africa railway project to the shores of the Indian Ocean through Tanzania.

Known as the Lobito Corridor, this US-funded railway project that originally ran from Angola to Zambia through the Democratic Republic of the Congo (DRC) envisions adding 1,300 kilometers of railway from Zambia to Tanzania and is slated to be completed in just five years, by 2029.

Former Deputy Chairperson of …

  • US companies’ entry into Libya will solidify Tripoli's global oil market wild card role in stabilizing an already weary industry.
  • American Chamber of Commerce in Libya (AmCham Libya) has partnered with Energy Capital and Power for the November 8-9 Libyan Energy and Economic Summit in Tripoli.
  • Libya boasts of the greatest proven crude oil reserves in Africa totaling 48.4 billion barrels as of 2021.

A new partnership is promising to open doors for US energy companies in Libya, the frontier that is becoming the world's oil market wild card. The move will further solidify the North African country's oil industry's pivotal role in stabilizing an already weary global energy market.

Libya’s oil market wild card status

While Libya is a member of the Petroleum Exporting Countries (OPEC) oil cartel, the country is enjoying oil market wild card status. Internationally, Libya is not bound by OPEC's crude output caps due to…

  • About 80 percent of trade in East Africa goes through Kenya's Port of Mombasa.
  • Kenya is a top destination for venture capital on the continent.
  • Renewable sources account for the majority of Kenya's on-grid electricity production.

The top American diplomat in Nairobi Meg Whitman is turning out to be one of the biggest marketers for Nairobi, calling for increased US investments in Kenya and across Africa.

Kenya and many economies in Africa have a significant number of relatively untapped industries. Emerging sectors such as technology, e-commerce, financial services, healthcare, and energy offer substantial potential for growth.

"When I was a CEO–I’ll be honest–I probably thought of Africa about 1 per cent of the time. Many of the businesses I managed were heavily invested elsewhere. But if I were back in the boardroom today, Africa would be on my radar for two simple reasons: supply chain diversification and net-zero emissions," Ambassador…