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The United States House of Representatives on Wednesday hosted an event titled “A Dialogue With African CEOs” that brought together women and minority business owners, chief executives from across Africa and US and SME entrepreneurs. The focus of the panel discussion was to examine possible business partnerships between African business and government with their American counterpart through the African Growth Opportunity Act (AGOA) that was set up 14 years ago. Event host Gregory Meek, Congressional Black Caucus (CBC) Africa Task Force...

President Jacob Zuma and Trade and Industry Minister Rob Davies got a “very positive” response from three key US congressmen to their appeal for South Africa to remain part of the crucial African Growth and Opportunity Act (Agoa) when it is renewed by next year. Zuma and his team have been lobbying hard at US President Barack Obama’s US-Africa Leaders Summit for South Africa to continue getting the duty-free access to the key US market that Agoa provides. Obama himself pledged his administration’s full support for the renewal and...

  South Africa’s State-owned freight logistics group Transnet reported on Wednesday that it had secured a R6-billion guarantee from the US Export-Import (Ex-Im) Bank for the funding of diesel locomotives the company is buying from General Electric (GE). The facility was confirmed amid a robust debate in the US about the bank’s future and followed news that the 80-year-old institution provided a record $1.7-billion in financing support for US exports to sub-Saharan Africa over the past ten months. The GE locomotives form part of a...

African leaders urged the US on Monday to renew a trade benefits programme giving duty-free access to billions of dollars of African exports for 15 years, saying it would help cement trade relations and boost development in sub-Saharan Africa. President Jacob Zuma, one of nearly 50 African leaders in Washington to attend a three-day summit, said the renewal of the African Growth and Opportunity Act (Agoa) when it expired next year was one of the key issues for the talks. “Almost 95 percent of South African exports receive preferential...

  South Africa has welcomed the commitment by US President Barack Obama to support the continuation and enhancement of the African Growth and Opportunity Act (Agoa). Obama made the remarks at the US-Africa Business Forum in Washington on Tuesday. His backing of a new Agoa term came as a pleasant surprise to many, who have been waiting to hear Obama's position on the issue. US law makers are expected to vote on the renewal of Agoa when the current commitment term expires next year. "We still do the vast majority of our trade with just...

The US has recently cut down its embassy staff in Nairobi and also pushed back funding for various projects and programmes in the country. This has impacted negatively on business and stakeholders are hoping that President Uhuru Kenyatta's presence at the ongoing US-Africa leadership forum in Washington DC will end the frosty relations between Kenya and the US. "We hope the issue of lifting travel advisories will feature prominently. We are losing a lot through cancelled tourist bookings," said Kenya Hotel Keepers and Caterers Association...

Africa is looking to the United States for help modernizing industry and combating terrorism, according to the deputy chairman of the African Union (AU). Erastus Mwencha also said AU officials are negotiating with Washington at the U.S.-Africa summit to improve the trade framework in the African Growth and Opportunity Act (AGOA) to include investment opportunities for American businesses and investors as the U.S. Congress readies to begin discussions on re-authorizing the law next year. He said the AU also seeks American investment that...

An Abuja-based Agriculture entrepreneur, Mrs Esta Charles-Ayede, has urged the U.S Government to remove barriers inhibiting some African countries from fully utilising the benefits of the African Growth and Opportunity (AGOA). Ayede made the submission at a roundtable between local entrepreneurs in Abuja and the U.S Assistant Secretary of Commerce for Economic Development Jay Williams. The discussion was held via a Digital Video Conference (DVC) between Washington D.C and Abuja. It coincided with by President Barack Obama announcement on...

US President Barack Obama said the fast growing economies of Africa represent one of the greatest opportunities for the US to extend its commercial reach and doing so requires a concerted effort by business and government. The president highlighted $33 billion (R356 billion) in commitments to Africa: $14 billion in investments by companies including General Electric and Coca Cola, $7 billion in financing to promote US exports and $12 billion for an initiative to double availability of electricity in sub-Saharan Africa. “Even as Africa...

  Trade poses a major dilemma for policymakers at this week’s U.S.-Africa Business Forum. The Obama administration and Congress have recently expanded U.S. foreign policy in Africa beyond humanitarian and health efforts, and into economic policy. But this has occurred as others countries, including China, offer enticing alternatives to American businesses. “We have a moment that is passing us by,” said Sen. Chris Coons (D-Del.), chairman of the Senate Foreign Relations African Affairs subcommittee. “[But] our relationship has...

South African president Jacob Zuma met three key US congressmen on Capitol Hill yesterday as he stepped up his efforts to win congressional approval for South Africa’s continued participation in the African Growth and Opportunity Act (Agoa), which gives exporters duty-free access to the lucrative US market. Zuma met Delaware Senator Chris Coons, the chair of the Senate foreign relations subcommittee on African affairs, Senator Robert Menendez of New Jersey, and Representative Ed Royce, the chairman of the House of Representatives foreign...

  President Jacob Zuma on Monday asked for the support of American business to ensure that South Africa does not get excluded from AGOA, the preferential trade programme that was enacted in 2000 to boost and diversify African trade with the US. Addressing a US-South Africa Business Investment Forum organised by the US Chamber of Commerce in Washington, Zuma said that for Africa to continue to prosper, South Africa had to demonstrate strong growth. Zuma's speech comes as US lawmakers prepare to vote on the extension of the African...

  The government is likely to allow some US chicken imports into the local market at lower tariffs in exchange for continued participation in the lucrative African Growth and Opportunity Act (AGOA) preferential trade scheme. President Jacob Zuma is leading a major charge by the government and business at the US-Africa summit in Washington this week to win renewal of Agoa, which allows almost 95 percent of South African exports into the US market at zero or greatly reduced tariff rates. Yesterday Zuma urged the influential US Chamber...

Well, President Kim, Jim, thank you very, very much for your welcome. Welcome to all of you here, and I appreciate your – the substance of your comments. And I also appreciate your generous comments regarding my privilege of being here as Secretary. (Laughter.) This is a very exciting week for us here in Washington, and we are really thrilled to welcome everybody here on this particular discussion and many others that are going to take place. And I need to beg your indulgence at the beginning of my comments. I have to speak and run, so...

The bipartisan leaders of the Senate Finance and Foreign Relations Committees and House Ways and Means and Foreign Affairs Committees issued the following joint statement on the U.S. Africa Leaders Summit and the 13th Annual AGOA Forum: We welcome the African leaders to the United States on this historic occasion of the first U.S.-Africa Leaders Summit and African Trade Ministers to the 13th Annual AGOA Forum Ministerial.  Congress envisioned the Summit and Forum in 2000, when it enacted the African Growth and Opportunity Act...

"The issue of extending AGOA is not in question," Rep. Chris Smith (R-N.J.) said today in a Brookings event on the new landscape for innovation and business in Africa. As the U.S.-Africa Leaders Summit begins in Washington, DC this week, the Brookings Africa Growth Initiative has pulled together a high-level forum of leaders of entrepreneurs and leaders in business, government, civil society and the media to explore priorities for U.S.-Africa policy; business strategies for economic growth and development; innovation; governance; and...

Good morning Excellencies, Secretary Kerry, ladies and gentlemen. I’m happy to be here with you today to launch these important discussions on the US African Growth and Opportunity Act. I’ll make just two points before turning to our keynote speakers today. The first is to remind ourselves that African countries have enormous potential to expand trade in order to drive growth, reduce poverty and deliver jobs. Countries must now find the right approaches to take advantage of opportunities to greatly expand trade within Africa and...

  As African leaders descend on Washington this week for the United States-Africa Leaders Summit, their trade ministers will, on the sidelines, be pushing hard for the extension of the African Growth and Opportunity Act (Agoa). Despite South African government’s publicly stated expectations that US President Barack Obama will support a 15-year extension of the programme, experts believe achieving this will be no easy feat. South Africa’s push in particular, is expected to receive a “tenuous” audience in Washington, as it...