Promise of Investments by the US Africa Chambers on Agriculture and ICT

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The U.S.-Africa Business Centre of the U.S. Chamber of Commerce says it will invest in the Africa youth population in agriculture and ICT sectors.

The group made the pledge when its board, led by Africa’s richest man Aliko Dangote and Mr Scott Eisner, the President of the US-Africa Business Centre, visited Vice President Yemi Osinbajo in Abuja.

Dangote told State House Correspondents that the visit was sequel to the conclusion of the board’s first meeting in Lagos.

“We came here to pay a courtesy visit to the Vice President on U.S-Africa Business Council, which is part of the US Chamber of Commerce with about three million-member companies.

“We had our first board meeting here in Nigeria in Lagos and we deemed it fit that we should come here and pay a courtesy visit to the Vice President.

“Also, the President of the Chamber, Scott, briefed the VP on all the activities of the chamber and the collaboration that we want to have with Nigeria and Africa in general to see how it can be beneficial for both parties,’’ he said.

According to Dangote, U.S. companies and African companies are looking for how to develop that relationship and also “that we can assist in terms of ICT infrastructure and all the rest’’.

He stated that the investors were in continuous dialogue and continuous engagement for the benefit of Nigeria and Africa, adding that many U.S. companies had invested a lot in the country such as Procter and Gamble and General Electric.

Also speaking, Scott said that agriculture was high priority for American business investors and ICT.

He stated that it was because of an “expanding youth population here that is willing and able to work and understand what technological role is in the world today.

“So, companies like IBM and Microsoft are trying to hire and train 25 million African students over the next couple of years to get that work force to be, so that the skills are in Africa,’’ he said.

He stated that with the training it was intended that the investors could develop the next generation of technology in the continent.

“We need to find that leadership now,’’ Scott said, adding “the economic and investment policy here is giving a sense of governance and rule of law that all American companies need to invest.

“What we have seen is a good amount of transparency and understanding of where the Nigerian economy is today.’’

He stated that the fact that in stabilising the economy and trying to resolve issues there was “a willing neighbour, sound board on the other side.

Scott noted that whether it was government or private sector both should be able to sit down and have a real discussion about investment prosperity and you find investments.

“In fact today, Black Rhino, private equity infrastructure group, announced a production of a 500 plus megawatts facility.

“You’ve got Procter and Gamble, which has invested over $300 million into Nigerian economy to develop supply chains.

“You have great American stories that are now transcending and investing across Nigeria but also across ECOWAS recognising that you have got over 300 million possible consumers for our products.

SOURCE: Sundiata Post (2017), VIEW LINK.