Mark your calendars! The U.S. Department of Commerce and Bloomberg Philanthropies will co-host the first U.S.-Africa Business Forum on August 5th. The forum will focus on trade and investment opportunities on the continent.

Secretary of Commerce Penny Pritzker announced the forum during a speech to business leaders in Lagos, Nigeria, May 21.

Pritzker and former New York Mayor Michael R. Bloomberg will host the forum, and President Obama will be the keynote speaker, according to a Commerce Department news release.

“The U.S.-Africa Business Forum will be part of Obama’s U.S.-Africa Leaders Summit, the first summit of its kind and the largest event that any U.S. president ever has convened with African heads of state or government, the Commerce Department said,” reports allAfrica.

President Obama will also participate in talks with CEOs and government leaders from the United States and Africa.

“At Bloomberg Philanthropies, we share the [Obama] administration’s deep commitment to the continent. There is great optimism for what lies ahead as Africa will play an increasingly central role in global affairs and international commerce,” said Bloomberg.

“Vibrant, transparent business communities that are wired into the global economic conversation are essential for the future of Africa,” Bloomberg added. “This forum and summit builds on this dedication to the future of Africa and will go far in building a better and more secure economic and political future for the continent.”