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At the U.S.-Africa Business Summit held in Luanda, Angola, African leaders made an urgent appeal for the United States to revise its trade policies—particularly tariffs—on African exports. They urged a reimagining of U.S.-Africa relations centred not on aid dependency, but on transformative investment partnerships that leverage the continent’s vast economic potential.
A Call for Investment Over Aid
Angolan President João Lourenço, addressing a gathering of over 2,000 stakeholders from government, business, and civil society, made a compelling case for change:
“It is time to replace the logic of aid with the logic of investment and trade,” he said, urging U.S. businesses to diversify their investment interests beyond traditional oil and mineral sectors and instead focus on value-added industries such as automotive manufacturing, shipbuilding, cement and steel production, and tourism.
Strategic Economic Opportunities
Echoing this sentiment, Mahmoud Ali Youssouf, Chairperson of the African Union Commission, reinforced Africa’s readiness to partner in co-creating sustainable economic solutions.
“We’re not seeking aid, but building co-created solutions,” he stated, emphasizing Africa’s 1.3 billion-strong population and its wealth of natural resources as underutilized global economic assets.
He called for the elimination of punitive tariffs and restrictive visa policies that hinder deeper engagement and mutual growth.
Urging a Trade Reset
Dr. Akinwumi Adesina, President of the African Development Bank Group, directly challenged U.S. policymakers and investors: “We should review the high tariffs on African countries. What is needed is more trade between Africa and the U.S., not less,” he said.
He cited the Lobito Corridor—a major regional infrastructure initiative involving Angola, Zambia, and the Democratic Republic of the Congo—as a model for impactful, long-term partnerships. The African Development Bank has committed USD 500 million in soft loans and an additional USD 1 billion over five years to support value chains, transport, energy, and agricultural development along the corridor.
Supporting Integration and Regional Development
Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), emphasised the importance of intra-African trade and the role of AfCFTA in accelerating industrialisation and economic integration.
“The undertaking of the AfCFTA is an ambitious one—It has to be ambitious,” he declared, urging stronger collaboration with international partners to scale investment and reduce market fragmentation.
U.S. Acknowledges Africa’s Strategic Role
Senior U.S. officials, including Troy Fitrell from the State Department, recognized the continent’s rising importance and committed to reshaping American perceptions of Africa as a destination for serious investment. “There are business leaders in the U.S. who need to understand the opportunities that lie in doing business with Africa. Our mission going forward will be to find them—and bring them in,” Fitrell said.
Award-Winning Leadership and Bold Financing Solutions
Dr. Adesina was honored with the Distinguished Economic Leadership Award by the Corporate Council on Africa for his transformative leadership of the African Development Bank. Under his guidance, the Bank has positively impacted over 565 million lives through its five strategic priorities, the “High 5s.”
At a related summit event hosted by Africa50, Adesina stressed the urgency of scaling local financing mechanisms, particularly in local currencies, to stabilize infrastructure project investments and mitigate foreign exchange risks.
Unlocking Capital Through Innovative Finance
Africa50 CEO Alain Ebobissé championed asset recycling as a strategic tool to attract private capital into infrastructure. “Monetizing existing assets, improving efficiency through top-tier operators, and inviting long-term investors like pension funds can unlock massive capital inflows,” Ebobissé explained.
The African Development Bank, which has invested over USD 55 billion in infrastructure, established Africa50 as a platform for private equity-backed project development and finance. It has mobilised over USD 8 billion for infrastructure projects in just eight years.
Green Bonds and Risk Mitigation for Sustainable Development
Adesina called for Africa to claim a greater share of the USD 2.9 trillion global green bond market, noting that less than 1% currently flows to the continent. He introduced the Alliance for Green Infrastructure in Africa (AGIA), aimed at mobilizing USD 10 billion for sustainable infrastructure investments. Africa50 serves as the general partner for AGIA’s Project Development Fund, backed by G7 nations and other global partners.
To further mitigate risk for investors, the African Development Bank is launching the Africa Risk Mitigation Agency, which will consolidate and streamline guarantee instruments across areas such as climate risk, political risk, and refinancing.
Real-World Success: The Senegambia Bridge
The Senegambia Bridge, funded with USD 104 million by the Bank, was the first asset used in Africa’s asset recycling initiative. The project successfully returned the full investment to the Gambian government, demonstrating a replicable model for future infrastructure financing.
A Strong Political Signal
The summit attracted the participation of seven African Heads of State, several Prime Ministers, and senior officials from regional bodies, underscoring the political will for a recalibrated partnership with the U.S. grounded in mutual respect, strategic alignment, and shared prosperity. “Let’s make America and Africa great again,” concluded Adesina, urging U.S. investors to act on Africa’s data-driven economic opportunities, not outdated perceptions.
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The U.S.-Africa Business Summit sent a unified and urgent message: Africa is open for business, not for aid. The continent seeks equitable, high-impact partnerships that accelerate industrial development, infrastructure transformation, and economic integration. The time for rethinking U.S.-Africa relations is now, and the opportunity is vast.