Corporate Council on Africa (CCA), established in 1993, is the premier U.S. business organization focused exclusively on promoting greater U.S.-Africa trade, investment, and business partnerships. Over its 30-year history, CCA has provided its members and stakeholders the “access, connections, and insight” needed to successfully conduct business on the African continent. The U.S.- Africa Business Summit is CCA’s annual signature high-level event where U.S. and African government and private sector leaders including African Heads of State, Ministers and senior USG officials, CEOs and senior executives of American and African companies, institutional investors, and international financial institution representatives come together to explore and expand U.S.-Africa trade, investment, and business opportunities. Stakeholders and experts in key sectors of growth for both the U.S. and African economies, including agribusiness, energy, health, infrastructure, trade facilitation, ICT and finance gather to network, explore new business opportunities, and meet potential business partners; as well as advocate to shape effective U.S.-Africa trade and investment policies.
Since 1997, CCA has hosted fifteen U.S.-Africa Summits alternating between the United States and host nations across the continent – including cities such as Washington, DC, Baltimore, and Chicago, and in South Africa, Ethiopia, Mozambique, Morocco and most recently in Botswana. Since the first Summit in 1997, CCA has hosted over 50 African Heads of State, and averages 1,000 attendees from 40 countries at each Summit,- convening investors, entrepreneurs, financiers and U.S. and African government officials to forge partnerships, discuss challenges, find solutions, as well as expand existing and develop new trade and investment partnership.
The 16th CCA U.S.-Africa Business Summit will be held in Dallas, Texas on May 6-9, 2024 under the theme “U.S.-Africa Business: Partnering for Sustainable Success”, and will be an important opportunity to bring U.S. and African public and private sector leaders to America’s heartland – a region that is experiencing remarkable growth in U.S. and international business activities and is home to a large African diaspora community living in the Dallas and Houston area.
Fact Sheet: U.S.-Africa Business Summit and its Value to the U.S. Business Community
The 2024 U.S.-Africa Business Summit serves as a critical platform that enhances economic ties between the United States and Africa. It plays a pivotal role in promoting economic growth for American and African businesses, workers and people by facilitating mutually beneficial trade, investment, and business partnerships.
Here’s why the U.S. business community should pay attention to and participate in this significant event:
1. Expanding Market Access: Africa is a rapidly growing market with immense untapped potential. Under the African Continental Free Trade Area (AfCFTA) Agreement, the African market of 1.3 people and over $3 trillion in combined GDP, provides extensive opportunities for U.S. businesses looking to expand their offerings and footprint on the continent. The U.S.-Africa Business Summit provides a unique opportunity for U.S. businesses to explore and expand their market presence in diverse sectors such as technology, energy, agriculture, and healthcare.
2. Enhancing Bilateral Trade, Investment, and Commercial Opportunities: Increased U.S. government and private sector engagement in Africa strengthens the U.S. economic and broader strategic relationship with African nations. The Summit serves as a platform for U.S. companies to engage with African companies and government partners, fostering collaborations that lead to job creation, economic development, and increased exports for American businesses.
3. Strengthening Strategic Alliances, Economic Ties, and Diplomatic Relations: The Summit facilitates the formation of strategic alliances between U.S. and African companies as well as influence African government policies impacting the trade and investment enabling environment. Economic ties play a crucial role in strengthening diplomatic relations. The U.S.-Africa Business Summit underscores the importance of fostering strong economic partnerships, contributing to enhanced political stability and cooperation between the United States and African nations. Collaborations forged during the event also contribute to knowledge and skills transfer, technology exchange, and joint ventures that drive innovation and competitiveness.
4. Addressing Global Challenges: Africa faces various global challenges, including climate change, healthcare disparities, and infrastructural gaps. The Summit provides a forum for U.S. businesses to
contribute solutions, showcasing American innovation and expertise while addressing critical issues that impact both continents.
5. Supporting Sustainable Development: U.S. involvement in Africa is not only an economic opportunity but also a chance to contribute to sustainable development. The Summit highlights the significance of responsible and ethical business practices that promote environmental stewardship, social responsibility, and inclusive growth.
6. Promoting Women’s and Youth Entrepreneurship: The Summit places a particular emphasis on the important role that women and youth engagement and entrepreneurship play in expanding U.S.-Africa trade,
investment, and business. By supporting initiatives that empower women and young African entrepreneurs, the U.S. business community can play a role in shaping the future economic landscape of the continent.
7. Showcasing American Innovation: Participation in the Summit allows U.S. businesses to showcase American innovation, cutting-edge technology, and advanced products and services they can offer to Africa. This not only bolsters the reputation of American businesses but also attracts potential partners and investors.
Visit the website for more information, www.usafricabizsummit.com.
