Leaders attend US-Africa Business Summit

news-image

By Southern Times Writer

Several SADC leaders this week attended the US-Africa Business Summit hosted by Mozambique in Maputo for the first time.

The summit brought together at least 10 African presidents and representatives of the United States government and entrepreneurs, the organisers said. 

“We had delegations of businesspeople from Zimbabwe, Morocco, Namibia, Botswana, South Africa, Malawi, Nigeria, Egypt, Angola, Tunisia, among other African countries,” a communique from the Confederation of Economic Associations (CTA), Mozambique’s largest employer association, reads.

In addition to the Mozambican head of state, Filipe Nyusi, presidents José Mário Vaz from Guinea-Bissau, Teodoro Obiang Nguema Mbasogo of Equatorial Guinea, Paul Kagame of Rwanda, Hage Geingob of Namibia, Mokgweetsi Masisi of Botswana, Uhuru Kenyata of Kenya, Egdar Lungu of Zambia, King Mswati III of Eswatini, and Emmerson Mnangagwa of Zimbabwe attended the summit.

The summit took place under the theme “Promoting a resilient and sustainable partnership between the US and Africa” and brought together at least 1,000 senior executives from Africa and U.S. companies.

The summit took place as the consortium led by US-based Anadarko announced the final investment decision for gas exploration in Area 1 of the Rovuma Basin in northern Mozambique, one of the largest investments ever in the country, whose planned development is estimated at US$25 billion – double Mozambique’s annual gross domestic product.

Tourism, energy and agribusiness, particularly regarding access to US markets for African products, were among the topics addressed.

Meanwhile, Zimbabwean President Emmerson Mnangagwa said the African Continental Free Trade Agreement (AfCFTA), a trade pact envisaged to create a single market,  was “a step forward” likely to promote inclusive growth and enable African countries to jointly work towards achieving a prosperous future.

As part of his intervention during the summit’s plenary session titled “Advancing a resilient and sustainable US-Africa partnership” on Wednesday, Mnangagwa said the new trading regime that will result from the roll-out of the trade agreement requires African countries to work together to ensure that “we do not leave any single country behind”.

“We have moved forward now to create a continental free trade area. The reason is that we don’t need to leave any single country on the continent behind. We need to work together,” he said.

“Our economies are at different levels of development, modernisation and industrialisation, and it is necessary that when we are together, we can help each other to develop and modernise our economies.

“Yes, we are 1,2 billion (people in Africa), which is a huge market. Among ourselves and as a bloc, I think we can make a statement in relation to our partners and they will recognise that we are strong and we are a unit to be recognised and dealt with as a unique African continent.

“So I believe the African Continental Free Trade Area is a step forward which is necessary for Africa and that way we can relate to other partners, I think, with more strength and dignity.”

 

LEAVE A COMMENT

Comments

image

Poachers have broken into Botswana’s p Read more...

10 Aug, 2018 at 01:58 PM

image

In a sign that Botswana is likely to cli Read more...

02 Jul, 2018 at 09:26 AM

image

Gaborone - Poachers have broken into Bot Read more...

04 Feb, 2019 at 07:35 AM

image

DAR ES SALAAM - DIRECTIVES on online for Read more...

02 Jul, 2018 at 01:24 PM

image

SADC leaders meeting in Tanzania this we Read more...

19 Aug, 2019 at 01:51 PM

image

Windhoek – Namibia’s Ministry of Agr Read more...

29 Sep, 2020 at 09:50 AM

image

Harare – About a fortnight ago, FIFA Read more...

28 Sep, 2020 at 04:05 PM

image

Harare – Tanzanian bongo flava star Di Read more...

28 Sep, 2020 at 04:02 PM

image

Harare – The World Platinum Investment Read more...

28 Sep, 2020 at 03:53 PM

image

Harare - The COVID-19 pandemic has highl Read more...

25 Sep, 2020 at 02:46 PM

image

Lusaka - Amid myriad criticisms from soc Read more...

14 Dec, 2018 at 06:28 AM

image

Harare -The South African Premier Soccer Read more...

04 Sep, 2020 at 12:47 PM

image

FORMER Liberation Movements (FLMs) in So Read more...

16 Sep, 2019 at 12:36 PM

image

Heads of state and ministers who travell Read more...

30 Jul, 2018 at 02:01 PM

image

Windhoek - The European Union National I Read more...

01 Apr, 2019 at 12:33 PM