World
US-Africa Business Summit: Partnering for Sustainable Success
By Kestér Kenn Klomegâh
The Corporate Council on Africa (CCA) held the US-Africa business summit in Dallas, Texas, on May 6-9 with the theme US-Africa Business: Partnering for Sustainable Success gathered several African leaders, senior US and African government officials, and corporate business executives to review performance, discuss existing challenges and chart future pathways into the commercial spheres across Africa.
While it aims at forging strategic partnerships and exploring investment opportunities, the participants gain important insights from industry experts and business thought leaders. Principally the Texas summit hosted the largest African diaspora population of any state in the United States. Dallas, as the location of headquarters and major business operations for a large number of Fortune 1000 firms, was the ideal location to facilitate the exchange of ideas and strategies that will shape the future of US-Africa business relations and private sector-led economic growth both in the United States and on the African continent.
Speeches and discussions were delivered successfully. Among the African leaders who delivered speeches included President Mokgweetsi E.K. Masisi of the Republic of Botswana, President Faure Gnassingbé of the Republic of Togo, and Dr. Lazarus McCarthy Chakwera of the Republic of Malawi. The presence of large numbers of African leaders and representatives, in fact, underscored the importance of the summit as a platform for high-level discussions and economic partnerships between the United States and Africa.
Dr Mokgweetsi E.K. Masisi, President of the Republic of Botswana, has made a strong case for Botswana as a top investment destination, citing the country’s stability, progressive policies, and strategic initiatives promoting economic growth and sustainability.
The Botswana leader spoke during the ‘Doing Business in Botswana’ session in Dallas, Texas. Addressing a strong audience of potential investors, and summit attendees, President Masisi outlined Botswana’s strategic priorities under the ‘Reset Agenda,’ which aims for significant post-pandemic recovery and sustainable development. He emphasized vital areas such as digitization, value-chain development, and green energy, highlighting the country’s commitment to digital innovation and boosting key economic sectors such as agriculture, tourism, and mining.
President Masisi also called for enhanced women’s role in trade during the summit’s panel session, organized by the African Women’s Entrepreneurship Program (AWEP) in partnership with the United States Department of Commerce Commercial Law Development Program (CLDP), the Africa Women and Youth Empowerment Group (AWYEG), and the Corporate Council on Africa.
President Masisi pointed out women’s significant economic contributions, particularly through informal cross-border trade valued at $17.6 billion. In spite of their contributions, women frequently face exploitation and violence, with little protection. To address these challenges, Botswana’s head of state emphasized the importance of the African Continental Free Trade Area (AfCFTA), which is expected to boost Africa’s income by $450 billion by 2035 and significantly increase intra-African exports.
Standard Bank, the leading bank and financial services group in Africa, championed the vital role of global trade, economic development and robust partnerships at the opening of a power-packed U.S.-Africa business summit. With Texas as an international business hub and home of a large and vibrant African diaspora community, the event carries significant weight for Dallas, a gateway to global markets and cross-cultural connections.
“Trade and investment are economic lifelines, and this meeting links immense potential in Africa with the powerhouse market of the United States,” said Anne Aliker, Standard Bank’s Group Head, Corporate and Investment Banking, Client Coverage. “Both offer abundant growth opportunities, leveraging Africa’s markets and resources while providing avenues for US businesses to diversify.”
African countries’ effective participation in the ever-evolving international trade landscape is central to boosting the continent’s development. While African exports of goods and services have registered faster growth in the past decade, the volumes remain low, stagnant and heavily skewed toward primary goods.
Aliker said the policymakers must broaden their perspective beyond conventional methods to engage actively in today’s broad markets. Although Africa has about 18% of the world’s population, it has only about 2.9% of global GDP and only 2.2% of world exports. According to the US Census Bureau, Africa exported $38.1 billion worth of goods to the U.S. and imported U.S. goods worth $28.6 billion in 2023.
“Trade is deeply rooted in Africa’s history and essential for its future development. We’re committed to using our position, presence and insight to inform and grow the continent’s trade ecosystem,” she said.
Discussions over the reauthorization of the African Growth and Opportunity Act (AGOA), a cornerstone of US efforts to cultivate deeper economic relations with sub-Saharan Africa, allowing countries there to export certain products to the US duty-free. Last July, the Biden administration reported facilitating more than 900 deals across 47 African countries since 2021, for an estimated $22 billion in two-way trade and investment. Also, the US private sector sealed investment deals exceeding $8.6 billion.
Fielding questions on the sidelines, Jonathan Stember says the growth potential in Africa is considerable and the US must rethink its business mindset and strategy towards Africa. As a prominent figure in political and corporate global campaigns for over 25 years, Jonathan Stember says there are broad areas of win-win partnerships and cooperation between US firms and entities and Africa.
Creating a reliable partnership, whether in Africa or globally, mirrors the challenges inherent in any business endeavour—it demands dedication and perseverance. Mutual trust is key for success among all parties involved. Communication, a fundamental aspect of human interaction, plays a crucial role in nurturing these partnerships. Our efforts have resulted in the establishment of bridges that facilitate connections between Africa and the US, fostering mutual growth and understanding. Africa presents an array of prospects spanning technology, youth empowerment, food security, trade and commerce, and the establishment of sustainable economies.
During the business sessions, CCA was proud to partner with the Millennium Challenge Corporation (MCC) to celebrate its 20th anniversary and highlight MCC’s $10.4 billion US government investment in infrastructure across more than 24 African countries. From power projects to roads, ports, education, ICT, health and more —MCC’s 42 country-driven development programs address binding constraints to economic growth. A high-level event celebrating MCC’s 20th anniversary featured distinguished guests, including President George W. Bush and other notable U.S. government and African leaders.
MCC has worked side-by-side with partner countries to deliver on priorities that promote entrepreneurialism, private sector business investment and job creation for two decades. MCC’s anniversary event promises to set the tone for the summit, showcasing government and private sector commitment to partnership, US-Africa trade, investment, business, and sustainable economic development.
The US-Africa business summit served as a platform for African and US private sector and government representatives to engage at the highest levels on a range of issues impacting the US-Africa economic relationship. The sessions focused on key sectors including agribusiness, energy, health, infrastructure, security, trade facilitation, ICT, creative industries, and finance.
The participants networked with key private sector and government officials, explored new business opportunities, interacted with potential business partners, and forged new business deals. In addition, the gathering also served as an opportunity to shape and advocate for effective US-Africa trade and investment policies. Over the last 30 years, CCA has hosted over 50 US and African Heads of State and over 15,000 participants at its summits.
One distinguishing feature in US-African relations is the Global Development Alliance (GDA) is USAID’s premier model for public-private partnerships. Its connectivity and support for the African-American diaspora in immeasurable. According to World Bank Statistics, remittance inflows to sub-Saharan Africa soared from $49 billion in 2021 to an estimated $68 billion. Beyond remittances, Africa stands to benefit largely from the input of its diaspora considered progressive in the United States.
Over the years, African leaders have been engaging with their diaspora, especially those excelling in sports, academia, business, science, technology, engineering and other significant fields that the continent needs to optimize its diverse potentials and to meet development priorities. These professionals primarily leverage various sectors and act as bridges between the United States and Africa. President Joe Biden has created the African Diaspora Advisory Council as part of the presidency. It has been working closely together to deepen and fortify America’s strategic partnerships with the African diaspora in the interests of sustaining meaningful stability between Africa and the United States.
Until today, the Young African Leaders Initiative (YALI) continues to run various educational and training programs including short professional courses, conferences and seminars for Africans. It has some other economic development programs, like the Academy for Women Entrepreneurs program. Since its inception in 2019, this program has provided more than 5,400 women throughout Africa with the training and networks they need to start and scale small businesses.
The United States is not only the undisputed leader of the free world but also home to the most dynamic African diaspora. The African diaspora ranks amongst the most educated immigrant groups and is found excelling and making invaluable contributions in all sectors of life-business, medicine, healthcare, engineering, transportation and more. The contribution of the African diaspora is not negligible, we see more of them appointed to senior government positions by President Joe Biden.
US Trade Representative Katherine Tai also told the gathering there about the necessity to establish more investment, in addition to market access. The duty-free access for nearly 40 African countries has boosted development, and fostered more equitable and sustainable growth in Africa. The AGOA offered promise as a “stepping stone to address regional and global challenges” with Africa’s young and entrepreneurial population. The future is Africa, and engaging with this continent is the key to prosperity for all of us, according to Katherine Tai.
The last 2023 business summit was a tremendous success which took place in Botswana. The participants – most importantly – private sector corporate executives looked at Africa and the United States engaging in strategic dialogue on the key issues and opportunities driving US-Africa trade, investment, and commercial engagement. “The pace of engagement with Africa by President Biden and his Cabinet Secretaries is unprecedented, especially the strong focus on supporting private sector trade and investment deals. There can be no mistaking the strength of President Biden and his Administration’s commitment to and engagement with Africa,” says Corporate Council on Africa chairperson Florie Liser.
The Texas business summit was organized by the Corporate Council on Africa (CCA) in conjunction with the Millenium Challenge Corporation (MCC), which is an independent U.S. Government agency that partners with developing countries to reduce poverty through economic growth. The US Trade and Development Agency and Foreign Affairs’ Africa Department offered its full-fledged support.
The Corporate Council on Africa (CCA) is the leading U.S. business association focused solely on connecting business interests in Africa. According to its reports, the CCA was established in 1993 and has been pivotal in promoting business and investment between Africa and the United States, serving as a trusted intermediary for over three decades. Its primary mission is to strengthen commercial relations between Africa and the United States of America.
By Kestér Kenn Klomegâh
One year after launching a continental initiative designed to make excellence in public governance the foundation of a new drive to transform Africa, LEAD, the Africa CEO Forum’s pan-African leadership programme, takes stock of its first cohort and announces the launch of its second class. Built around a community of senior public decision-makers committed to modernising the state and to the continent’s digital transformation, this new cohort gathers for three days, from 28 to 30 August 2026, on the campus of Mohammed VI Polytechnic University (UM6P) in Rabat, Morocco.
A second cohort that confirms the programme’s durability
For its second class, LEAD brings together 50 fellows, senior public decision-makers engaged in the design and implementation of the continent’s economic and social policies. Over three days, participants take part in collective and collaborative working sessions, peer exchanges and meetings with figures from the public, business and academic spheres, in order to compare their practices and build shared responses to the major challenges of governance.
Speakers include Mehdi Jomaa, former Head of Government of Tunisia, Donald Kaberuka, Managing Partner & Founder, SouthBridge Group, and former President of the African Development Bank, Serge Ekue, President of the West African Development Bank (BOAD), Sanjay Jain, co-creator of India Stack and Director of Digital Public Infrastructure, Gates Foundation, and Mauricio Cardenas, Professor of Professional Practice in Global Leadership, Columbia SIPA, and former Finance Minister of Colombia (2012-2018).
They share their reform experience, their public policy trade-offs and their view of continental priorities. Throughout the programme, the cohort benefits from the dedicated support of Mohammed VI Polytechnic University, Asafo & Co, BOAD, BCG and the African Development Bank, LEAD partners that have chosen to invest in the transformation of African public action.
LEAD, a pan-African community serving public action
Created by the AFRICA CEO FORUM, LEAD is a leadership programme whose ambition is to reposition Africa’s administrative elite as a driver of reform, of performance and of dialogue with all the continent’s stakeholders.
Designed for senior African public decision-makers, LEAD sets out to build a lasting community of public officials able to share their experience, compare their practices and build common solutions to the major economic, technological and institutional transformations under way in Africa. That community is structured around three pillars: modernizing the state, improving public services, and strengthening cooperation between governments, development institutions and private-sector players.
From fellows to alumni: a long-term initiative
Made up of 36 fellows drawn from a range of administrations and institutions and representing 24 countries across the continent, LEAD’s first cohort demonstrated the quality and the potential of this community from its very first year. In less than twelve months, six of its members have taken a significant step forward: two have been appointed ministers, two have moved into strategic positions at the highest level of the state and two have been promoted to chief executive roles. These moves, which account for 16.7% of the first class, show the role LEAD plays as an accelerator of impact within African administrations.
By bringing together a new cohort of fellows every year, each of them joining the LEAD alumni community, the initiative follows a long-term trajectory: in time, to unite several hundred African public decision-makers around a shared culture of transparency, performance and regional cooperation.
A first year devoted to public service and digital public infrastructure
Throughout the year, the fellows devoted their work to strengthening African public action, to make excellence in public governance a central lever of transformation. An awareness campaign, run as part of Africa Public Service Day, brought to light those who, within the continent’s administrations and institutions, are concretely transforming public policy and improving the services offered to citizens.
Members of the cohort also took part in a special round table held in Kigali during the ACF 2026, in order to carry their thinking to a wider community of public and private leaders. That forum reinforced LEAD’s role as a platform for dialogue between the administrative elite and the continent’s economic players. Digital public infrastructure (DPI) formed the main thread of this first year of work.
Discussions covered issues at the heart of the digital sovereignty of African states: digital identity, payments, secure data exchange, interoperability, governance and the protection of citizens. This work examined the conditions under which African states are developing, in some cases, and can develop, in others, shared, open infrastructure robust enough to improve the quality of public services while supporting local innovation and preserving the capacity of public authorities to set the rules of the game.
A white paper to move from consuming technology to creating value
This year of work concludes with the publication, in collaboration with BCG, LEAD’s Knowledge Partner, of a white paper on Africa’s place in the digital economy and in artificial intelligence. With the digital economy still accounting for around 5% of African GDP, against close to 15% worldwide, the paper calls on the continent to shift from a logic of technology consumption to one of value creation.
The white paper identifies three structuring priorities for African public actors:
- Building shared digital infrastructure that serves as the backbone of public services and private innovation.
- Pooling investment in order to reach critical mass and avoid the fragmentation of efforts across the continent.
- Favouring open and interoperable architectures, with trust and governance built in by design, so as to protect citizens while stimulating the entrepreneurial ecosystem.
The white paper is available here to all public decision-makers, technical partners and institutions concerned.
“LEAD’s first cohort confirms a simple conviction: Africa already has the women and men capable of profoundly transforming public action. Our responsibility, either with our partners, is to give them, at pan-African level, a space in which to compare experience, build common solutions and bring forward a new generation of public policy. With this second cohort, we want to accelerate the move from ambition to execution, in particular on digital public infrastructure and artificial intelligence, two decisive issues for sovereignty, for the effectiveness of the state and for value creation across the continent,” says Amir Ben Yahmed, President of the Africa CEO Forum.
By Kestér Kenn Klomegâh
Africa is set to make history as it hosts the World Public Summit for the first time, with Addis Ababa, Ethiopia, welcoming global leaders and changemakers from July 29–30, 2026, for the landmark gathering under the theme “New World: Africa in Shaping a Shared Future.”
The inaugural African edition of the World Public Summit marks a significant milestone in the continent’s growing role in shaping international dialogue on governance, sustainable development, human-centred leadership and global cooperation.
Hosted by the World Peoples Assembly in partnership with African and international organisations, the summit will convene government officials, diplomats, business leaders, academics, journalists, youth representatives, civil society organisations and cultural leaders from across Africa and around the world.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Summit is not just a meeting—it is a space for unity. A space where the ‘values that unite us’ come to life: respect for people, openness to the world, responsibility for the future, and a commitment to creation.
“Today, we understand more clearly than ever: the future cannot be built alone. It is born in dialogue, in trust, in the ability to listen to one another and to act together.”
The programme begins on July 29 with a series of high-level roundtables and expert discussions covering Pan-African economic integration, civil society, education, scientific cooperation, cultural diplomacy and humanitarian partnerships.
The opening plenary, “Values, Development and Partnership as the Basis of a Sustainable and Just World,” will explore how African values—including Ubuntu—can help shape a more inclusive and sustainable global future. Discussions will also focus on youth leadership, innovation, civil society, ethical AI, public initiatives and international partnerships.
The summit will also showcase Africa’s creativity and innovation through the “Innovations for the Future” exhibition, the contemporary African art exhibition “Unity,” and the international exhibition “The World Paints Happiness.”
Another featured initiative is “The Zambezi River: Economy, Society, Soul,” an international interdisciplinary project exploring the river’s socioeconomic importance across Angola, Botswana, Mozambique, Namibia, Zambia and Zimbabwe, highlighting the shared heritage and development potential of one of Africa’s most important waterways.
The event will conclude with the adoption of the African Communiqué, reflecting the summit’s shared vision for stronger international cooperation, sustainable development and people-centred leadership.
Tsegaye Chama, General Secretary of the Global Black Centre, promised that, “The Summit will be delivered with exceptional distinction, reflecting the magnitude and spirit of the World Peoples Assembly. It embodies a unity that is not transactional, but purposeful and conscious, a unity that shapes new contours for a world that works for all peoples of the World.”
As delegates prepare to arrive in Addis Ababa, anticipation continues to build for what promises to be one of Africa’s most significant international gatherings of 2026—one that will place the continent firmly at the centre of global conversations about the future.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
Pingback: US-Africa Business Summit: Partnering for Sustainable Success » rarticlesub