by fidelisa | 593 Views | Rating: (0 rates)
Connecting The Continent-The USA Hits High Gear On Business With Africa
By Ajong Mbapndah L
If there was any doubt on the seriousness of America in doing business with Africa, then the third Annual U.S-Africa Infrastructure Conference succeeded in discarding them. Under the theme connecting the continent, the conference which took place in Washington DC from the 6-9 of October, registered a turnout described as unprecedented by the organizers. Organised by the Corporate Council on Africa (CCA) The over four hundred participants came from some of the most prestigious that the USA boasts in terms of corporations
While capital markets around the world tighten, Africa, according to Stephen Hayes, President and CEO of the CCA has seen significant increases in flows of funding and economic growth and much of the capital is being earmarked for projects in infrastructure. The conference he said was an opportunity to provide companies in the USA with a blueprint on how to get the highest return on infrastructure investment in Africa. Central themes at the conference included investment opportunities in energy, power, transportation, infrastructure construction safety and social responsibility in Africa.Cited as examples was South Africa which is building the first subway system in Africa in preparation of the 2010 world cup with plans to greatly increase its energy production from such diverse sources as nuclear power, bio fuels, and other alternative energies. Namibia which had one of the most impressive delegations at the conference from Africa was also highlighted as a successful destination for investments. Besides the strong business delegation that turn up in full force, Julia Imene Chanduru First Secretary at the Namibian Embassy in Washington DC, said much was done to market Namibia using the stand they set aside for the purpose. The continent according to the CCA was making great efforts to improve and further secure water resources and transportation.
For three days speakers highlighted new projects, financing opportunities and business success stories. Ed Kostenski President of Worldwide Equipment with operations spanning over 25 years in Africa said he was most impress not only with the turnout at the conference but the quality of the participants and the potentials for great business. Africa he said in an interview which will be published in our next issue has come a very long way from the time his company started operations there. Other participants Pan African Visions spoke to where of the opinion that in a number of African countries, the climate for investments are more favourable than there were several years back. With the enthusiasm witnessed from speaker after speaker, the intensity of the networking, and the appetite salivated by the huge market and investment opportunities that the continent represents, it was clear that American companies are more than ever before ready for business with Africa.Established in 1993, the CCA is a non profit, membership organization committed to the strengthening and facilitating of commercial relations between the United States and Africa. Since inception, the CCA has served as the latest source of information on business across Africa working closely with government, multi-lateral groups and businesses to improve the continents trade and investment climate, raise the profile of Africa in the U.S business community and to work with member companies to increase U.S investment in Africa.
Representing some 85% of total U.S private sector investment in Africa, the CCA membership ranges from America's smallest to some of the biggest corporations. Services offered its members include facilitated meetings between leaders from the public and the private sectors in the USA and Africa, promotion of members African operations, products and services, networking and research services.
More about the important conference will be highlighted by PAV in subsequent editions.
