AFRICAN LEADERS URGE US TO SHIFT FROM AID TO INVESTMENT, EASE TRADE BARRIERS

African leaders are calling on the United States to recalibrate its relationship with the continent, emphasizing the need for transformative investments, reduced trade barriers and enhanced infrastructure development. The appeal was made at the 17th US-Africa Business Summit in Luanda, Angola, organized by the Corporate Council on Africa.

Angolan President João Lourenço urged American companies to form long-term partnerships with Africa, highlighting the continent’s potential for growth and innovation. “It’s time to replace the logic of aid with the logic of ambition and private investment,” Lourenço said, positioning Africa as a credible partner seeking financial capital and expertise.

Akinwumi Adesina, outgoing president of the African Development Bank Group, echoed Lourenço’s sentiments, advocating for reduced tariffs on African exports to boost trade between the US and Africa. “What is needed is more trade between Africa and the US, not less,” Adesina emphasized.

US Senior Advisor for Africa, Massad Boulos, indicated the Trump administration’s focus on technology-driven investment and infrastructure partnerships in stable African countries. Meanwhile, African leaders stress that a strong US-Africa business relationship could positively transform economies on both sides, leveraging Africa’s rich natural resources for industrialization and job creation.