World
US Investors to Explore Opportunities in AfCFTA
By Kester Kenn Klomegah
United States investors are looking to explore the several opportunities in the African Continental Free Trade Area (AfCFTA), a policy signed by African countries to make the continent a single market.
Speaking at the 13th US-Africa Business Summit organised by the Corporate Council on Africa (CCA), a leading reputable American business association, the investors said there are ways the continent can benefit from them, including in sectors like pharmaceuticals, automobiles, agro-processing and financial technology.
The US government and private sector leaders, together with African political and corporate business leaders, have been working consistently over these years to share insights on critical issues and policies influencing the US-Africa economic partnership.
The three-day summit held virtually included five plenaries and 12-panel sessions highlighting key economic recovery strategies and focused on a range of sectors and issues, including health and vaccine access, trade, digital transformation, infrastructure, financing, small and medium scale enterprises, tourism, women’s leadership and investment opportunities in various African countries.
The high-level dialogue set the scene for reviewing the opportunities for the United States and African public and private sector leaders, how to strengthen the economic partnership between the United States and Africa. Prosper Africa, investments in key sectors such as gas, exploration of possible new bilateral trade agreements, extension of the African Growth and Opportunity Act (AGOA).
Driving Inclusive Recovery
The United States said it will drive a pandemic recovery and put women at the forefront. It has contributed 25 million vaccines for Africa. It implies making sure to incorporate women’s perspectives in their efforts. “When women are empowered, they empower their families, they empower their communities and they empower their countries.”
Thokozile Ruzvidzo, Director of the Gender, Poverty and Social Policy Division, United Nations Economic Commission for Africa (UNECA) said that there are six critical things for women to benefit from AfCFTA.
These include: closing the gender gap as it relates to access to finance, empowering women in the export sector, regional value chains and procurement and ensuring that we include the voice of women in the AfCFTA implementation efforts.
Strong US-Africa Trade Relationship
The US investors hope to focus on a range of issues, from implementing the AfCFTA, boosting Africa’s trade with the US including through AGOA, pursuing agreements that go beyond AGOA, such as the US-Kenya FTA. It will be pursuing public-private partnerships that support the US and African businesses, including women-owned and led SMEs.
The US Trade Representative, Katherine Tai, noted that this is among the top priorities for the Biden-Harris Administration the defeat of COVID and helping facilitate a robust global economic recovery.
She pointed to trade as a key part of that effort and the determination to implement policies that benefit not only those at the top but foster inclusive and sustainable development, supports regional integration, and ensure that all citizens benefit from the global economy.
At the event, Wamkele Mene, Secretary-General of the AfCFTA Secretariat, highlighted the significant progress that has been made in advancing the AfCFTA — with 40 countries that have now ratified the agreement, Phase 1 covering trade in goods and services concluded, and 86% of the rules of origin completed.
He noted that “AfCFTA has unlocked value chains for investors – especially US investors – in key sectors such as pharmaceuticals, automobiles, agro-processing, and financial technology.”
On his part, the Ethiopian Airlines CEO, Mr Tewolde GebreMariam, noted that as the largest air cargo carrier in Africa with hubs in countries across the continent and the airline is successfully connecting Africa with the rest of the world – both for cargo and for passengers and tourism. He urged, though, that more be done to facilitate increased investment, trade and tourism in Africa and to support the AfCFTA vision and goals.
The Assistant US Trade Representative, Ms Constance Hamilton, noted that the US trade policy now transforms beyond AGOA, noting that under the Biden-Harris Administration, they will be ramping up engagement with the AfCFTA Secretariat to support African regional integration, while looking to build stronger relationships with willing African nations through bilateral engagement.
She noted the plans to hold a Trade Ministerial conference in 2021 and to engage with a range of stakeholders to explore ways to enhance the US-Africa trade relationship.
Infrastructure Development
At the event, participants highlighted the growing financing gap in Africa and the importance of renewed public-private partnerships in the development of infrastructure projects.
Minister de Lille of South Africa and Serge Ekue of the West African Development Bank and other panellists suggested that a way to address those flaws is to “implement rigorous master planning that will first help identify bankable projects and then prepare them efficiently while raising local capacity.”
“Infrastructure is not just about the value of the money. It is about the value of the social impact on our communities. These indicated that countries pursue ways to bridge financing infrastructure in Africa,” they submitted.
Beyond COVID-19
Stakeholders at the seminal agreed that it was important to invest in sustainable approaches that bring services close to the patients. These include strong primary healthcare (PHC) as the foundation for strengthening health systems, including the integration of services with a multi-disciplinary team.
Looking forward, it was said that there are opportunities for impact investing in health in Africa by deploying financial resources that can have financial returns/commercial opportunities while improving health outcomes.
Closing Trade Finance Gap
The event gap participants the avenue to discuss the trade finance gap with African, Diaspora, SMEs and women-owned businesses and how organizations can contribute to reduce (or eliminate) the gap.
Participants discussed the impact of the pandemic on their organizations and initiatives contributing to economic activity recovery, as well as improving business operations. Panellists also highlighted the importance of diversifying both suppliers and clients, in addition to looking beyond the immediate market to new partnerships.
The diverse panel emphasized the growing trend of digitalization of SMEs and African business operations. Moving to digital and connected operations will help businesses not only simplify operations but also allow them to reach customers in places they were not able to operate before. This also will positively impact the relationship between Diaspora businesses and businesses on the continent.
They concluded that implementing strategies that will enable African SMEs to grow, build capacity, find new U.S. partners, and access cheap and easily available capital will be crucial to close the trade finance gap.
Sustainable Agribusiness Ecosystem
Participants at this meeting agreed that diversification was the way to improve the agribusiness sector. Collaboration between US and African companies will help achieve sustainable development through increased access to investment financing and access to global markets for African companies, they opined.
However, it was stressed that achieving diversification will require producing more value-added products, which will be achieved through investment in industrialization, R&D, and technology.
Public-Private Partnerships (PPP) and favourable government policies will be key to funding these efforts, they further stated, noting that investing in SMEs will be vital to improving agribusiness value chains since SMEs are deeply integrated at every level from retailers to crop transporters while helping scale up these SME’s make the value-chains more productive and improve the sector’s output.
Digital Transformation
Speaking at the programme, the South African Minister of Trade, Industry, and Competition, Ebrahim Patel, noted that digital technology remains a critical tool and a critical enabler to build economic growth and economic opportunities.
The Minister said digital technologies will help create new products and new markets for millions of Africans. Policymakers, corporations, and entrepreneurs have a unique partnership opportunity to develop digital infrastructure, skills, and ecosystems.
Minister Patel invited the private sector to share ideas and suggestions to make the AfCFTA e-commerce protocol fit for its purpose.
It was agreed that the COVID-19 pandemic has transformed the digitalization of life and work. As a result, technology companies are developing lifesaving products and services.
For example, Google and Apple developed exposure notification technology, which helps slow the spread of COVID-19. Google also developed a range of products for remote education.
As African businesses and consumers have shifted towards e-commerce and digital payments, companies like Visa have accelerated the rollout of payment infrastructure.
For digital trade and the digital economy to work effectively, panellists recommended that the AfCFTA be implemented to establish a continent-wide harmonization of business-friendly rules and regulations.
Future of Energy in Africa
During the summit, high-level participants from the US government, African countries and the private sector discussed the need for public-private sector collaboration on energy transition in Africa and innovative thinking on the critical need to address energy poverty and access to electricity in Africa while advancing the urgent fight against global warming.
Joining US Special Presidential Envoy for Climate, John Kerry, from the USG were senior US government officials from the Departments of Energy and State, and the US Development Finance Corporation (DFC).
Also participating in the dialogue were Ministers of Energy and senior African officials from Angola, Egypt, Ghana, Mozambique, Nigeria, and Senegal, as well as CEOs and other top executives from a range of U.S. and African oil, gas, and power companies and major investors in the sector.
In his presentation, Mr Kerry stated that tackling climate change is a top priority for the United States and reiterated the US government commitment to encouraging other countries to achieve their respective climate and clean energy goals.
It was noted that more African countries need to sign on to the Paris Agreement to tackle climate change as it is important that all countries work together to address global climate change.
Other US government officials acknowledged energy poverty in Africa and noted that improving energy access in Africa is paramount to the US government as it continues to invest in electricity systems in Africa through initiatives like Power Africa.
They also noted that even while the United States is pushing for a strong political commitment from African to prioritizing and meeting climate change goals, the US government will continue to support and finance energy projects (including some in gas) in Africa, particularly where renewable energy options may not be viable.
African Ministers and government officials shared the strategies they have adopted in their respective countries to both adopt clean energy technologies in oil and gas, while also investing in renewable energy options.
In Senegal, Egypt and Angola, renewable energy is at the forefront of energy transition strategies and initiatives, and it was noted that collaborations with international partners are essential to achieving long term energy and climate change goals in Africa.
CEOs and senior executives of companies with operations in Africa who participated in the session highlighted that they are actively working on energy access in Africa, see gas (particularly abated gas) as a medium-term, low-cost transition option to address climate change, while some are also investing in and financing renewable energy projects in Africa.
There were calls for fair treatment of Africa, in terms of climate change, as well as for the US government to prioritize development over climate change when it comes to Africa, and to continue financing gas projects in Africa for the next 5-7 years, which some thought could actually help meet climate goals faster as Africans (especially those in rural areas) shift from wood burning to use of gas to cook.
Noting the complexity of these energy issues, many agreed that public-private partnerships are crucial to renewable energy transitions, and thought that further dialogues like this one leading up to the COP 26 talks scheduled to take place in Glasgow in November 2021 would be crucial in the US and Africans reaching a common understanding about the way forward on the future of energy and climate in Africa.
Looking Forward
The US government said the Biden-Harris Administration was prioritizing economic relationships with Africa.
Dana Banks, White House Senior Director for Africa, announced the White House Administration made a request for $80 million in additional funding to push for the Prosper Africa Build Together Campaign that will drive billions of dollars of investment in Africa, build new markets for American products and create thousands of jobs for African and American workers.
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.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
