Wednesday, 6 August 2014

US Companies Pledged To Invest 14 Billion Dollars In Africa

US companies have pledged fourteen billion dollars of investment in Africa in areas such as energy and infrastructure.

US President Barack Obama made the announcement at the first US-Africa Leaders’ Summit in Washington DC, attended by over forty African heads of state.

The deals include a five billion dollars partnership between private-equity firm Blackstone and Aliko Dangote, for energy infrastructure projects in sub-Sahara Africa, as well as more investments in Obama’s Power Africa Initiative.

The summit is an effort to strengthen US ties with Africa as China increases its African investments.

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