Lourenço Urges U.S. to Swap Aid for Investment at U.S.Africa Summit in Luanda
João Lourenço, the president of Angola, called Africa a “credible partner” with abundant resources and human capital, and urged the United State
João Lourenço, the president of Angola, called Africa a “credible partner” with abundant resources and human capital, and urged the United States to switch from traditional aid to private investment at the U.S.Africa Business Summit in Luanda. He underlined the need to replace the "logic of aid" with the "logic of ambition," citing industries such as infrastructure, technology, agribusiness, and renewable energy. Lourenço promoted the African Continental Free Trade Area AfCFTA as an investment magnet and pointed to Angolas 3.5% Q1 GDP as proof of regional momentum. "It is business—not aid—that drives lasting growth," said Troy Fitrell, chief of the U.S. Africa Bureau. The goal of the conference is to strengthen business connections and draw American businesses to Africas changing economic environment.
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B2B Tech News | 2 months ago