Browsing: US-Africa Summit

• US$55 billion to be invested in Africa over the next three years along with several new partnerships and initiatives.
• The U.S.-Africa Business Forum was held and attended by 300 executives from American and African companies.
• For African youth development, the US announced more than $100 million in funding for the Young African Leaders Initiative (YALI).

This year’s U.S. Africa Leaders Summit (13-15 Dec) in Washington has been defined not by the African guest’s colourful dress code, but by the billions that were pledged in aid, grants and support.

To the welcome of the flamboyant African leaders and businessmen, US officials and corporate chiefs announced US$55 billion to be invested in Africa over the next three years along with several new partnerships and initiatives.

The sum is significant, but going with President Joe Biden’s statement, this is just the beginning. “There’s so much more we can do together and that we …

• President Ruto ran for office partly on a Beijing-skeptic platform in response to claims of Chinese predatory lending to African nations
• The Kenyan President assured American businesses that his administration would create a favourable business climate to encourage foreign direct investment
• Moderna will soon start producing vaccines in Kenya, joining other major American corporations in the East African superpower, like General Electric, Meta, Google, and Microsoft
• He obtained pledges in waste-to-energy solutions, space technology, carbon trading systems and markets.

When Kenya president William Ruto and other African heads of state arrived in Washington, DC, last week for President Biden’s US-Africa Leaders’ Summit, It was Kenya’s chance to rebuild strategic ties with the west.

Along with meetings with companies like Google, Visa and the Rockefeller Foundation in the private sector, as well as general conversations on political relations, security, and economic development, the president of Kenya also made a speech about …

CCA president and chief executive officer Florizelle Liser said the forum allowed over 2,200 participants to network.

“CCA looks forward to partnering with the US Chamber to jointly convene the private sector as part of the Summit’s Africa Business Forum, which will help drive progress towards a trade and investment relationship that unlocks opportunity and growth for both the U.S. and Africa,” Liser said.

The US-Africa Leaders Summit will build American and African shared values and hopes to foster new economic engagement. It will also reinforce the two regions’ commitment to democracy and human rights. Among the issues to be discussed are mitigating the impact of COVID-19 and future pandemics and working collaboratively to strengthen regional and global health.

Climate change is another matter of concern that needs a response by respective governments. Nevertheless, Biden said he was hopeful the summit would be a success.…

• The summit that will be held from Tuesday, July 19, until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic
• The 2022 summit is being held under the theme “Building Forward Together” and will explore investment opportunities amid rising inflation and high cost of living
• Morocco had in 2020 been selected by the CCA Board of Directors to host the conference, which was cancelled due to the COVID-19 pandemic
• It’s the first time Corporate Council on Africa (CCA) organised the summit on African soil