Washington, D.C. — 2nd Annual Conference to Engage Key Stakeholders in Infrastructure Development in Africa
The U.S. Agency for International Development (USAID) has joined government agencies such as the Overseas Private Investment Corporation (OPIC) and U.S. Department of Transportation (DOT) as a leading sponsor of The Corporate Council on Africa (CCA) 2007 U.S.-Africa Infrastructure Conference, it was announced today.
The 2nd annual U.S.-Africa Infrastructure Conference will be held at the Grand Hyatt in Washington, D.C. from October 8-10, 2007.
USAID is the official sponsor of the "Water and Sanitation Infrastructure Development" workshop being held on Tuesday, October 9th from 10:30 a.m. to 12:00 p.m. It has also committed resources to leverage energy, information communications technology and transportation under the African Global Competitiveness initiative.
USAID is an independent federal government agency that receives overall foreign policy guidance from the Secretary of State. Their work supports long-term and equitable economic growth and advances U.S. foreign policy objectives by supporting economic growth, agriculture and trade, global health, democracy, conflict prevention and humanitarian assistance. They provide assistance in Sub-Saharan Africa, Asia and the Near East, Latin America and the Caribbean, and Europe and Eurasia.
"Inadequate infrastructure is one of the greatest impediments to business growth on the African continent," said CCA PRESIDENT STEPHEN HAYES. "We are pleased to welcome the U.S. Agency for International Development as a sponsor of the 2007 U.S.-Africa Infrastructure Conference. Public sector support of this conference is essential and USAID's participation will provide the information and perspective needed to address water and sanitation-related opportunities and challenges in Africa."
Aptly titled "Building on Stability," this year's conference will highlight African countries that have laid the foundation for investment in infrastructure development through stable and democratic governments, and sound economic policies.
A key aspect of this year's conference will be the increased focus on risk management in Africa. Experts will discuss best practices, and strategies to minimize risks. In addition, business opportunities in key growth sectors including water, security, energy, roads and rails, transportation, as well as information and communications technology (ICT), will be highlighted.
To date, event sponsors include the DynCorp International, Raytheon Company, Global Strategies Group, General Electric, U.S. Agency for International Development, U.S. Department of Transportation, OPIC, African Business and New African magazines, AllAfrica Global Media, Africa Investor and Times Publications.
The private sector invested over $4.5 billion in infrastructure in Africa in 2005, according to a 2006 annual report of the Infrastructure Consortium on Africa. Almost 75% was invested in mobile telephony, but some countries also received investments from Independent Power Producers (IPPs), and from concessionaires taking over the management of rails, ports, and power distribution. China has committed to lending $5 billion to various African countries over the next three years, mostly for infrastructure investments.
CCA, established in 1993, is a nonpartisan 501 (c) (3) membership organization of nearly 200 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. Visit CCA's website at www.africacncl.org for up-to-date information on the organization and upcoming events.
