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U.S.-Africa Business Forum Advances Innovation and Trade Ties

ASHINGTON, D.C. – The 2022 U.S.-Africa Business Forum, a key pillar of the three-day U.S.-Africa Leaders Summit ending today, brought together U.S. and African heads of state and business leaders to advance trade and investment partnerships and bolster the continent’s tremendous potential for innovation and entrepreneurship.

“We are committed to seizing the opportunities Africa presents as a trade and investment partner,” said U.S. Chamber of Commerce President and CEO Suzanne P. Clark. “In addition to partnering with the U.S. government to host the U.S.-Africa Business Forum, we also launched the Advance with Africa campaign this year, showcasing to Main Street American businesses the commercial opportunities Africa has to offer.”

The Forum included a Deal Room with nearly $15 billion in new transactions dedicated to advancements in areas such as digital economy, internet access, cyber security, SME growth, and health systems. The U.S. Chamber also signed an MOU with the African Continental Free Trade Area Secretariat to launch a working group and advance trade and investment between the U.S. and Africa.

“At the U.S. Chamber, we believe free enterprise and competition are critical to growth, prosperity, and resiliency in America and Africa,” said Clark.  “With its young population set to nearly double by 2050, along with ongoing shifts in the business environment, Africa is an increasingly important region for the global economy. And it is crucial that the U.S. has a strong foothold on the continent through meaningful economic engagement and commercial dialogue.” 

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