NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, August 8, 2014

WASHINGTON, Aug 7 2014 (IPS) – As the three-day U.S- Africa Leaders Summit here drew to a close Wednesday, experts across the private, public and non-profit sectors continued to debate the opportunities and obstacles posed by the U.S’ expanding business partnership with Africa.

Speaking Tuesday regarding the 17 billion dollars pledged toward African business development, U.S President Obama declared his determination to be a “good,” “equal” and “long term” partner for Africa’s success.

“We cannot lose sight of the new Africa that’s emerging,” Obama said Tuesday, announcing new private partnerships, as well as a reaffirmed commitment to improving infrastructure, expanding trade, and providing educational opportunities for young entrepreneurs.

While such business advances most directly benefit actors in the U.S. private sector, non-profits expressed similarly qualified enthusiasm about the summit’s promise of increased economic engagement with Africa.