13 Jul Africa: U.S.-Africa Business Summit Looks to Enhance Africa’s Value in Global Chains
Gaborone — Over 1,000 participants from the U.S. and across the African continent, including government officials, private sector executives, investors, and multilateral stakeholders, are meeting in Botswana’s capital city of Gaborone at the U.S.-Africa Business Summit to explore investment opportunities and strengthen business relationships between Africa and the U.S.
“The U.S. is focused on what we will do with African nations and with African people and not for African nations and people as we work to deepen and expand our partnerships, amplify African voices, and support the empowerment of Africans,” said Scott Nathan, Chief Executive Officer of the United States, International Development (DFC).
The 15th U.S.- Africa Business Summit, hosted by the Corporate Council on Africa (CCA) and the Government of Botswana in Gaborone, is under the theme Enhancing Africa’s Value Chains.
“Through this annual summit, the CCA seeks to strengthen connections between the U.S. and Africa and to mobilize action as we have done for 30 years. CCA’s member companies are crucial in that effort, along with partnerships with U.S. and African governments and multilateral organizations. These collaborations are crucial to fostering a deeper understanding in government of private sector interests and needs and equally important to helping the private sector gain a deeper understanding of policies and expectations,” said Jeffrey Sturchio, Chairman of CCA.
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“Whether addressing climate impacts, promoting robust health systems and food security or building high-quality infrastructure, and even navigating difficult fiscal conditions, unleashing the power of the private sector is critical to delivering solutions,” he added.
President Mokgweeng Masisi agrees, he believes that for Botswana to create an inclusive economy it needs more private sector involvement to drive value chain development in major industries ranging from mining, tourism, agriculture, and education.
Masisi said the U.S.- Africa Business Summit remains a crucial pillar of Africa’s engagement in hosting African heads of state, U.S. and African government officials, top CEOs, and senior business executives spanning to major sectors that are critical to the continent’s development including infrastructure, ICT, health, energy, mining, and creative industries.
“Despite being classified as an upper middle-income economy Botswana constitute less than 0.2% of Africa’s population and contributes about 1% of Africa’s GDP. As the world’s largest diamond producer by value it is imperative that we develop value chains for raw materials to allow for greater value addition, and growth, adapt to climate change, build sustainability, deepen economic diversification, and create opportunities for the exportation of global supply chain,” he said.
Over five decades since its independence, Botswana has transformed from one of Africa’s poorest countries into an upper middle-income economy through its mining industry…
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