US-African Delegation to Promote Investments Worth Millions in Africa

A delegation from the US President’s Advisory Council on Doing Business in Africa (PAC-DBIA) visited Kenya, Ethiopia, Ghana and Côte d’Ivoire on a fact finding mission. The group is made up of 23 businesses that advise the US president on ways to enhance US and African investments and trade.

While you might love to play your favorite online games on Betway Naija, it’s perhaps only possible because African economies are on a rise. And that’s only possible because of worthwhile investments like these that are pushing African countries forward to the path of prosperity.

A Look at the Delegation and What they are Doing

The delegation first stopped at Ethiopia and carried out meetings with Ethiopian Airlines which is the main partner of US business relationships in the region. The US companies Honeywell and General Electric (GE) announced the development of new deals amounting to $934 million which involves purchasing maintenance services, airport security systems, auxiliary power generation units and engine parts.

A Look at their Journey

Next, the team made their stop at Kenya and met with Kenyan firms at an economic summit. 12 new deals were finalized by the delegation and the Kenyan official amounting to $100 million. The deals were finalized under the umbrella project Big Four Plan developed by Kenyan President Uhuru Kenyatta. The businesses in the project are included under the categories of nutrition and food, universal health care, manufacturing and affordable housing. The deals also saw an agreement between the Kenyan Ministry of Health and Medtronic, an US medical company for setting up dialysis centers in the country.

In Côte d’Ivoire, Chief Operating Officer of U.S. Millennium Challenge Corporation (MCC), Jonathan Nash met Charles Boamah, senior vice president of African Development Bank Group and declared the strengthening of their partnership. The African institute will work with MCC on the Benin power project and also make investments in different regional opportunities in Africa.

In Ghana, the government of both countries signed a memorandum of understanding (MoU) that will promote public-private investment and partnership in Ghana’s strategic sectors. The initiatives will be in the “Beyond Aid” strategy which includes agriculture, energy, infrastructure, industry, health care, digital services and financial services.

Kojo Oppong Nkrumah, Deputy Minister for Information, said on occasion of the signing of the MoU that direct discussion were ongoing between the governments and they will now put some “flesh” to it and get some specifics outlined.

Wilbur Ross, U.S. Secretary of Commerce expressed his views on the significance of the US-African alliance when he headed the delegation to Africa. He said that the American companies will work in collaboration with African companies and help the African countries to develop. The ultimate aim of the alliance would be to place Africa in the global economic system after it has strengthened itself domestically.

How do you believe is the economy progressing in Nigeria? Are you better or worse off compared to five years back? Let us know below!

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