U.S. entrepreneurs and investors were urged to take advantage of potentially lucrative business opportunities in Africa at a conference hosted this week by the University of Southern California, according to a report in LosAngelesWave.
The summit highlighted successful American-led investment in agriculture, energy production and infrastructure in the African diaspora.
The summit was moderated by Danny Tabor, former mayor of Inglewood, Calif. He underscored how much has changed about doing business in Africa.
“The common thread is that all this should be done in partnerships with the indigenous populations,” Tabor said. “The planning, implantation and build out is a different way in doing business today that is not the exploitation of the past.”
The two-day African Global Economic and Development Summit attracted importers and exporters, technology providers, contractors, equipment suppliers, agri-business, investors, banks and government entities.
Sponsors included the Global Green Development Group, a California-based consortium whose portfolio includes construction, gas and oil refinery design, mineral extraction and community planning. Global Green is led by noted African investor Mary Flowers, the report said.
Other sponsors included Los Angeles World Airports, the Port of Long Beach, the Government of Imo State, Nigeria; the U.S. Department of Commerce, the Harlem-based Urban Broadcasting Company Network and the Southern California District Export Council.
Topics included Understanding African Business Culture and Demystifying Myths and Exploring Trade Markets Through Business Tourism. There were presentations from companies seeking funding and investment.
The summit showcased African companies such as the Mwambani Port & Railway Corridor, a $32 billion dollar project being built in Tanzania connecting trade routes to nine countries; Global Green BioEnergy Nigeria Limited, a $225 million dollar multi-state energy crop production and bio-fuel refining program; and Miner’s Depot Manufacturing Facilities, a $30 million dollar equipment manufacturing project empowering African mining through eco-friendly solutions.