What you need to know:
- The size of the deals will crystallise during the US-Africa Leaders Summit expected to be graced by 42 Africa Heads of State later this month.
The US government has revealed that plans to start new and deepen existing commercial ties with Uganda are in advanced stages.
The size of the deals will crystallise during the US-Africa Leaders Summit expected to be graced by 42 Africa Heads of State later this month.
The US-Africa Business Forum (USABF), which is part of the summit, will commence on December 13 to cement deals in energy and infrastructure finance, agribusiness as well as the digital economy while also placing major focus on the future of trade and investment partnerships of US and Africa.
“We’ve worked very hard with our interagency partners to have their announcements included along with very significant private sector announcements that will be announced on the hour, throughout the hour of the day,” Ms Camille Richardson, the deputy assistant secretary for the Middle East and Africa (MEA) at USABF’s department of Commerce, revealed during a Zoom meeting on Thursday.
She added: “We’re looking to capture hearts and minds [to get] involved in and really invested in a new partnership with Africa.”
Ms Richardson also said companies interested in doing business with the Biden administration will touch base with the American Chamber of Commerce “who can help them cross the threshold and enter a market.”
She added: “Once a company is in a market, then we are very much happy from our embassies and consulates to raise the flag and send out the golden eagle-engraved invitations to have businesses understand what a new company is there for and what they have to offer and how they’re there to contribute to a country’s economy.”
Mr Arun Venkataraman, the assistant secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service, reasoned that there is a primal focus on the private sector because it “plays a critical role in driving the broader relationship between the US and African countries.”