US Chamber of Commerce strengthens African ties

The US Chamber of Commerce has announced that it will be expanding its economic outreach in Africa by creating the US-Africa Business Centre (USABC) with the aim of helping American firms ramp up their business across the continent.

Scott Eisner, President of USABC and Vice President of the US Chamber said: “We’re taking our next step as the leader of the US private sector’s commitment to Africa, with the goal of advancing policies that attract greater investment and support trade with our partners throughout the continent."

Jay Ireland, president and CEO of General Electric Africa, who will serve as USABC’s chairman, said: “The message from the U.S. business community is clear: Africa is a rapidly growing region with great opportunity for investment and trade. The US-Africa Business Centre will provide US companies a vehicle to promote trade and investment in Africa and increase US business engagement in the region."

The new centre also would help American firms better reach out to regional economic communities across the continent, such as Economic Community of West African States (ECOWAS), while putting more focus on small and medium-sized enterprises.

The business centre will enhance investment opportunities for US businesses by continuing the Chamber’s existing Memorandums of Understanding (MOUs) with a number of regional organisations, including ECOWAS and the Ghana Investment Promotion Centre.

MOUs with the Southern African Development Community (SADC) and East African Community (EAC) are expected to be formalised soon; another part of the centres mission is to prove that it is possible to do profitable business across the continent.

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SOURCE: [The Hill]