Africa: U.S.-Africa Summit Starts in Morocco Focused On Economic Recovery

  • The summit that will be held from Tuesday, July 19, until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic
  • The 2022 summit is being held under the theme "Building Forward Together" and will explore investment opportunities amid rising inflation and high cost of living
  • Morocco had in 2020 been selected by the CCA Board of Directors to host the conference, which was cancelled due to the COVID-19 pandemic
  • It's the first time Corporate Council on Africa (CCA) organised the summit on African soil

The four-day 14th United States-Africa summit began on Tuesday, July 19, in Marrakech, Morocco.The summit that will be held until Friday, July 22, will focus on economic recovery post-COVID-19 pandemic. It will provide opportunities for the Joe Biden-led administration and its partners in Africa to enhance their bilateral relations.The 2022 summit is being held under the theme "Building Forward Together". For four days, stakeholders in the public and private sectors will explore investment opportunities amid rising inflation and the high cost of living.Corporate Council on Africa (CCA) president and chief executive officer Florizelle Liser said the 2022 summit will build on the 2021 one that was held in the US and will seek to expand and deepen the US-Africa trade, investment, and business relationship."The 2021 Summit was a tremendous success, and the calibre of engagement by the US and African business and government leaders was outstanding. The partnerships forged, investment opportunities identified, and deals closed are still being cited by attendees.

We believe the 2022 Summit in Morocco will be even more successful and serve as a significant opportunity to expand and deepen the U.S.-Africa trade, investment, and business relationship," Liser said.The 2021 summit was attended by over 1,200 participants representing 65 countries. Among the attendees were six African heads of state, 22 senior African officials and three US government Cabinet-level officials.Others were 12 senior US government officials and global business across different investment sectors.Morocco had in 2020 been selected by the CCA Board of Directors to host the conference, which was cancelled due to the COVID-19 pandemic.It's the first time CCA organised the summit on African soil. Morocco was chosen to host the summit as it's one of the countries in the continent that signed the African Continental Free Trade Agreement (AfCFTA).Morocco is also considered a leading investment destination in Africa. The North African country is the fifth largest economy in Africa, with a Gross Domestic Product (GDP) of $124 billion (Sh 14.6 trillion). The country's investment areas are in agriculture and housing.The ambassador of the Kingdom of Morocco to the US, Princess Lalla Joumala, urged businesses to take advantage of opportunities set to be presented by investors at the summit."As the gateway to Africa, Morocco is committed to increasing business and investment on the continent and is pleased to partner with CCA to host the 2022 U.S.-Africa Business Summit in Marrakech," Joumala said.

Over 15,000 participants have taken part in the US-Africa summits in the last 23 years.READ: Challenges and opportunities across Africa's tech ecosystems

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