The U.S.-Nigeria Trade Council has said that Africa’s unfulfilled demands for goods and services can only be met by greater innovation and investment from business as well as closing gaps in African countries infrastructure, creating jobs and reducing poverty.
The was stated in a press release by the U.S.-Nigeria Trade Council, USA jointly signed by its Executive Director/Chief Executive Officer (ED/CEO), Titus Olowokere and the Director of Communications, Abigail Anaba.
The organisation said that Africa’s fast-growing population and markets present important opportunities for businesses in an environment of slowing global growth.
“Africa is the new Asia, the last frontier for global growth and investment; for a fact, the shift in trade policies of the world’s economic giants such as the breaking of alliances is proof that Africa now occupies a strategic position,” adding “that Africa has become the beautiful maiden that brings all the boys to the yard.”
The Country Director of the group, Idris Alabidun in a chat with our correspondent over the weekend said that it is because of the above
realization that the group is organizing the U.S-Africa Trade and Investment Global Summit (USATIGS) 2019, a-3day event coming up in
Atlanta, USA, from September 26-28, 2019.
“It is meant to bring together businesses and individuals who want to invest in the continent to listen to what Africa has to say because Africans are in a better position to provide answers as to what and where to invest in getting the best returns.
Alabidun said the summit will provide participants from the U.S and African countries with a unique platform to exhibit and promote their
products and services in the United States.
According to the release Africa hosts 10 of the world’s top 20 fastest growing global economies according to the IMF, “the continent will host steady a growth rate of 38 per cent this 2019 and holds abundance of natural resources” as well as a large productive population.
“Four of the fastest growing economies in the world are in Africa, its true Africa is ripe with opportunities but they go largely untapped by North American firms unlike the Asian countries especially China which has about $300billion investments in Africa.”
