Washington, D.C. — As developed markets worldwide face economic slowdowns, Africa continues to produce above average growth and is seeing increasingly higher levels of investment in infrastructure development.
The Corporate Council on Africa (CCA), in conjunction with its corporate and government partners, today begins its 2008 U.S. – Africa Infrastructure Conference: Connecting the Continent. The conference will be held October 6-8 in Washington, DC, and is expected to attract more than 400 leaders from the private and public sectors in the U.S. and Africa, with specific interests in infrastructure-related industry investments.
"While capital markets around the world tighten, Africa has seen significant increases in flows of funding and economic growth," said CCA President and CEO Stephen Hayes. "Much of this capital is being earmarked for projects in infrastructure. The conference will provide U.S. companies with the blueprint on how to get the highest return on infrastructure investment in Africa."
Infrastructure projects on the continent are already underway. South Africa is building the first subway system in sub-Saharan Africa in preparation for the World Cup that is being held there in 2010 and has plans to greatly increase its energy production from such diverse sources as nuclear power, bio fuels, and other alternative energies. South Africa is not alone in taking on ambitious infrastructure projects. Namibia is being highlighted during the conference as a successful destination for investments. Also, opportunities are abound in countries such as Nigeria, Ghana, and Burkina Faso looking to expand their power production. New efforts across the continent are being made to develop, improve, and further secure water resources and transportation, including ports and airports.
The two-day conference, kicked off on Monday evening, with a reception to celebrate the 50th anniversary of the U.S. Department of State's Bureau of African Affairs. Sessions will feature specific areas of growth and development within infrastructure led by leaders and experts from both the public and private sectors. Central themes include investment opportunities in energy, power, transportation, infrastructure construction, ICT, as well as safety, security, and social responsibility in Africa. Of particular interest is the coming presidential election in the United States and the implications it might have on U.S. policy in Africa.
Conference sponsors include AECOM; African Business; All Africa Global Media; DynCorp International, Inc.; ExxonMobil; Institutional Investor; Jeune Afrique; Lonrho; Marathon Oil Corporation; Millennium Challenge Corporation; Motorola; New African; Ogun State; Oracle; Raytheon Company; Republic of Namibia; Science Applications International Corporation; South African Airways; U.S. Agency for International Development; U.S. Department of Transportation; and Wazobiajobs.com.
For more information on the 2008 U.S.-Africa Infrastructure Conference click here or visit www.africacncl.org
Established in 1993, The Corporate Council on Africa 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. The organization is dedicated to bringing together potential business partners and to showcase business opportunities on the continent.
