M a r k e t N e w s

Obama roots for better US-Africa trade deals

Posted on : Saturday, 6th August 2016

 US President Barack Obama has signed executive order to support American companies interested in doing business in Africa.

 
Addressing beneficiaries of Young African Leaders Initiative on Wednesday at Town Hall in Washington DC, Obama said Africa has massive growth potential despite facing enormous challenges such as poverty, disease and conflict.
 
"You have one of the world’s fastest-growing regions, home to a middle class that is projected to grow to over 1 billion consumers. You are more connected by technology and smartphones than ever before -- as I can see here today," he said.
 
The US president said a second US-Africa Business Forum will be hosted to push for more trade and investment.
 
"We’re going to keep working together in our Power Africa initiative to bring cleaner electricity to more than 60 million African homes and businesses," he said.
 
Obama said the world will not be able to deal with global issues like climate change, terrorism or expanding women’s rights without a rising, dynamic and self-reliant Africa.
 
Obama said he has, during his tenure, worked to transform America’s relationship with Africa so that "we are equal partners".
 
"As so many Africans have told me you want trade not aid –- trade that supports jobs and growth. So we’ve been working to boost exports with Africa," he said.
 
Across Africa more than 250,000 people have joined YALI network.

Source : www.the-star.co.ke
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