The Corporate Council on Africa Forms Partnership with the Nigerian Economic Summit Group

26 October 2009
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Corporate Council on Africa (Washington, DC)
press release

Leading Business Groups Announce Strategic Partnership to Capitalize Africa's Growing Economy.

The Corporate Council on Africa (CCA) today announced a Memorandum of Understanding with the Nigerian Economic Summit Group (NESG). The partnership aims to capitalize on Africa's current 3 percent growth rate by deepening economic engagement between the U.S. and Nigeria.

"Nigeria is an economic powerhouse in Africa," said Stephen Hayes, president & CEO of CCA. "The American business community, represented by CCA, is interested in strengthening that relationship. There is no better time to invest in Africa."

Nigeria has one of the largest economies in Africa and in 2008 the country's GDP realized exponential growth. To continue this growth, President Alhaji Yar'Adua has pledged his commitment to economic reforms and formidable public-private partnerships.   CCA's collaboration with NESG echoes these endeavors and will provide a conduit for U.S. and African companies to invest in Nigeria's most promising sectors: oil and gas; infrastructure; agribusiness; health; tourism; and finance.

"This partnership is formed based on CCA's long experience in business promotion and engagement in Nigeria and NESG's concrete understanding of Nigeria's economy," said Hayes.

The Memorandum of Understanding between CCA and NESG, signed on October 2, calls for members of both organizations to strengthen the commercial and political environments of the U.S. and Nigeria through public-private partnerships; advise on significant legislative and policy developments in the two countries; provide commercial information, networking opportunities, and counseling to promote and advance business activities in both regions; and to ensure access to key U.S. and Nigerian government officials.

About The Corporate Council on Africa

Established in 1993, The Corporate Council on Africa is a nonpartisan 501 (c) (3) membership organization of nearly 170 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. For more information on Corporate Council on Africa, visit: www.africacncl.org ( http://www.africacncl.org/ ).

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