25 Jun 2025

Delegates at  the 2025 US-Africa Business Summit have been encouraged to forge relationships that transcend national boundaries and develop into collaborations in order to foster their countries’ economic growth.

“The idea is to think beyond just business deals and transactions but work toward long term transformation. Let us build connections that go beyond our borders and result in real life lasting partnerships. I am inspired and optimistic of what we will achieve together,” said Ms Florizelle Liser, president of Cooperate Council on Africa (CCA), the organisers of the US-Africa Business Summit.

Speaking at the official opening of  the summit in Luanda, Angola on Monday, Ms Liser said the summit presented more than just economic prospects for the United States and Africa, as it also sent a global message about the commitment to strengthening trade, investment and business ties.

“It reminds us that prosperity thrives through partnerships, trust and commitment to unlocking new opportunities,” she said.

Ms Liser said CCA was working hard to share the story on Africa of unprecedented growth, innovation and boundless investment opportunities. She said across the continent, entrepreneurs were emerging, bringing fresh ideas to life, industries expanding in new directions and communities finding new ways to build a better future.

The CCA president said the US private sector was a critical part of Africa’s journey, not just as investors but equally as long term partners committed to collaborations and shared success. Mr Troy Fitrell, head of US delegation said his country had unveiled a new strategy to align with the world and market changes as well as appreciate growth and challenges that were experienced by the world economies.

He said the strategy would emphasise on commercial diplomacy, therefore US envoys across the world had been assigned to focus on establishing new business deals, commercial opportunities and sustainable growth. Mr Fitrell said the new approaches would primarily be focused on what was necessary for Africa and US businesses to survive and grow. He said the US government was working with the private sector for the strategy to become a reality. As such, Mr Fitrell said there was a need for Africa to invest more on developing infrastructure that would among other sectors help agriculture thrive.

CCA chairperson, Mr Mr John Olajide said having launched the Africa Continental Free Trade Agreement (AfCFTA), the continent had the potential to catapult its growth by unlocking the world largest free trade market, in Africa worth trillions of US dollars, which remained untapped.

He said Africa had a population of over 1.3 billion and a combined gross domestic product of US$ 3.4 trillion, poised to grow as the AfCFTA was to explore what was at its disposal. He said it was important to make connections that would bring positive results to Africa and to the people across the world.

African Union (AU) Chairperson, Mr Mohamoud Ali Youssouf reaffirmed the continent’s commitment to building bold and equal partnerships with the United States. Mr Ali Youssouf said Africa had long passed the era where it was looking up to America for aid, but was now in a position where it would equally stand as a partner in finding solutions to its challenges.

AfCFTA Secretary General, Mr Wamkele Mene said the African Growth and Opportunity Act (AGOA) had over decades supported mutually beneficial trade and investment between Africa and the US. He said investments that were made through AGOA benefited both small holder farms, factories as well as US investors.

Mr Mene said as Africa was accelerating the implementation of AfCFTA which was ratified by 49 members of the AU, the summit was to deepen inter-continental trade, ensure continuity and credibility of trade particularly between US and Africa through the context of AGOA.

He said the challenging moment would be closing the chapter on AGOA as it was coming to an end in September 2025. He therefore called for decisive and constructive US-Africa engagement to reinforce existing trade and trade rules underpinning fairness of trade, protecting both large and small economies. ENDS