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President Obama Announces $14 billion in Private Sector Commitments to Africa

President Obama Announces $14 billion in Private Sector Commitments to Africa

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White House officials say President Obama will announce $14 billion commitment by U.S businesses to invest in Africa, with a focus on the construction, banking, IT, and energy industries. According to Eric Bradner of POLITCO, the deals are the center piece of the U.S-Africa Business Forum and the Summit in general.  The deal aims to underscore the growing role of American businesses on the African continent as trade on the continent is increasingly involved with China, Japan and the European Union. While specifics have yet to be released, the pledge includes more than a dozen companies like GE and IBM and signifies a renewed openness to business in Africa, with the intention of deepening American industries’ involvement in emerging markets.

For more:

Bloomberg Businessweek

Washington Post

 

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