Sponsors Named for Upcoming U.S.-Africa Business Summit; Africa's Strong Economic Growth to be Showcased at Conference

13 September 2011
Content from a Premium Partner
Corporate Council on Africa (Washington, DC)
press release

The 8th Biennial U.S- Africa Business Summit, the premier international vehicle to enhance U.S. investment into the African continent, will be held in Washington, D.C., Oct. 5-7, with nearly 1,500 private and public sector participants from nearly every country in Africa as well as from throughout the United States. The Summit will also include a significant presence from The Corporate Council on Africa’s (CCA) sister organizations in Europe, Canada and Japan.

CCA is a non-profit organization of nearly 180 U.S. companies representing 85 percent of U.S. private investment in Africa. CCA is the lead organizer of events related to U.S. trade and investment in Africa and is organizing the U.S.-Africa Business Summit.  The Summit, a three- day event will include over 32 workshop and plenaries on Africa’s most promising sectors.

Taking advantage of the burgeoning opportunities to invest in Africa – and an economic growth rate above five percent – 31 major corporations and media organizations have signed on as sponsors for this monumental event. They represent a large portion of the 85 percent of U.S. investment in Africa and include some of the largest African corporations and institutions: ExxonMobil, Chevron, Pacific Architects and Engineers (PAE), Novus International, Inc., South African Airways, Symbion Power, L3-MPRI, Danya International, RTI International, The Boeing Company, AES Corp., Freeport-McMoRan Copper & Gold, Inc.  Acrow Bridges, SEACOM, Emerging Capital Partners (ECP), Millennium Challenge Corp., Advanced African Solutions, Development Finance International, Wal-Mart, Lazare Kaplan International, Mars, Inc., The Coca-Cola Company and Kosmos Energy. Media sponsors include allAfrica.com, FT’s “This Is Africa”, Jeune Afrique, The Africa Report, IC publications, News Africa, Afrique Expansion and emeafinance

“Contrary to the economic downturn in much of the world, investment in Africa is the good news story, going up steadily with more U.S. companies finding major opportunities for investment,” said Stephen Hayes, President & CEO of The Corporate Council on Africa .

On the eve of the Summit, Africa is among the fastest-growing economic regions in the world.   According to the Harvard Business Review, Africa and Asia were the only continents to grow during the recent economic recession. If Africa continues to grow at this pace, consumers will buy $1.4 trillion worth of goods and services in 2020—slightly less than India’s projected $1.7 trillion but more than Russia’s $960 billion. Africa offers a higher return on investment than any other emerging market, according to the United Nations and is home to a tremendous market of more than 900 million potential consumers.

Notable ministers from the continent will present, including the Minister of Energy, Nigeria; the Minister of Trade and Industry, Namibia; the Minister of Trade and Industry, Republic of Ghana; Permanent Secretary of the Kenyan Ministry of Transport; the Nigerian Chief of Naval Staff and the Deputy Chairperson, African Union.  Many world financial and government experts will speak as well, including from the World Bank, U.S. State Department and Overseas Private Investment Corp.

“This is a particularly important time for U.S. businesses to explore investments in one of the world's key emerging markets, as our sponsors have done,” said Hayes.  He noted that businesses of all sizes, representing various industries, will be in attendance, eager to find new opportunities to grow and positively impact their bottom line.  The Summit will also addre

ss the complex political and economic issues affecting commerce between the U.S. and Africa.

About The Corporate Council on Africa

Established in 1993, The Corporate Council on Africa is a nonpartisan 501 (3) (c) membership organization of nearly 180 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.  

To apply for Media Credentials for the Summit, fill out the Accreditation Form, 2011 Summit Media Credentials Form, and email to summit@africacncl.org.  More details at www.africacncl.org

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