TABJ – Businesses in the United States are committing an investment of $14 billion U.S. dollars across the continent of Africa in an effort to expand relations.
The primary areas of focus of the investment will include: banking, clean energy, construction and information technology projects.
The formal announcement from American President Barack Obama was pre-planned to occur at the U.S.-Africa Business Forum, part of a three-day Africa summit in Washington meant to showcase American interest in improving trade and investment throughout the continent.
“These investments will deepen US economic engagement in Africa, fuelling growth that will support broader African prosperity and emerging markets for US businesses, which will support jobs in both the United States and Africa,” a White House spokesperson said.
Obama is taking part in a discussion with corporate chief executives and government leaders at the event. Other attendees include New York Mayor Michael Bloomberg, and former President Bill Clinton.
The business forum is designed to allow dozens of African heads of state to meet with business executives.