American & African economic operators discuss in Marrakesh joint business opportunities
Hundreds of African and American businessmen are discussing in Marrakesh partnership projects in various sectors including agribusiness, finance, energy, fertilizers, health, mining infrastructure, ICT, security and creative industries.
A large American delegation, led by Alice Albright, CEO of the Millennium Challenge Corporation (MCC), is taking part in the 2022 U.S.-Africa Business Summit, held in Morocco’s most popular tourist city.
Themed “Building Forward Together”, the four-day summit is hosted by the Corporate Council on Africa (CCA) in partnership with Morocco and aims to advance trade and investment between African countries and the United States.
Speaking at the opening of the Summit, Alice Albright said the Business Summit is an occasion to build new partnerships, explore new opportunities, and collaborate more with African partners, noting that MCC is working to create a “long-term partnership” with them to address current challenges.
This Summit will demonstrate the United States’ enduring commitment to its African partners, she said, noting that it will be based on the principles of mutual respect and shared interests and values, with the aim of strengthening economic relations.
She also highlighted the opportunities for economic growth in Africa, a continent that is the fastest growing in the world, before emphasizing the great interest of participating in this gathering of public and private sector leaders.
For his part, chairman of the Moroccan Employers’ Association (CGEM), Chakib Alj, said that private companies, along with the public sector, have a key role to play in solving Africa’s greatest challenges, particularly those related to energy, food security, education, digital transformation and health, noting that Moroccan companies are ready to work hand in hand with American and African partners to accelerate this dynamic.
The Millennium Challenge Corporation (MCC) has committed so far $1.1 billion in Morocco. The U.S. Trade and Development Agency (USTDA) is expected to announce new commitments to advance the development of information and communications technology, clean energy, and healthcare infrastructure across the continent.
The Summit, which offers the opportunity to establish future-oriented tripartite US-Morocco-Africa business partnerships, is also an occasion to consolidate the strategic positioning of Morocco, the only African country to have concluded a free trade agreement with the United States, as a hub for Africa and an economic partner of reference for the US.
This event is marked by the organization of high-level dialogues, plenary sessions, panels, roundtables, and side-events around the continent’s priorities in food security, health, agriculture, energy transition, new technologies, infrastructure, and the integration of industrial ecosystems.
The Marrakesh conference serves a platform connecting U.S. and African companies looking to do business with one another, and offers an opportunity to global investors seeking the long-term returns offered by Africa’s fast-growing markets.
During the summit, the U.S. African Development Foundation (USADF) will highlight the central role of African small and medium-sized enterprises in fueling the continent’s economic growth and recovery; and the Prosper Africa Chief Operating Officer will announce new funding opportunities and deals closed.
The Marrakesh gathering features presentations and debates on business challenges & opportunities offered in various sectors in Africa, US-African government policies and success stories.
The summit’s exhibition center enables SMEs and entrepreneurs to display their brand and showcase their business to leaders and the investment community.
