The 17th United States-Africa Business Summit kicked off in Luanda on Monday with a strong call to recalibrate US engagement with Africa – pivoting from traditional aid to expanded private investment.
Addressing the gathering, Angolan President João Lourenço urged American companies to seize growing opportunities on the continent by building long-term, mutually beneficial partnerships.
“New dynamics show us it is time to replace the logic of aid with the logic of ambition and private investment,” Lourenço said.
“It is time to see Africa as a credible partner – rich in potential, in need of financial capital and know-how and eager to join forces for mutual benefit.”
Lourenço stressed that Africa is no longer a passive recipient of foreign assistance but a dynamic growth frontier ripe for innovation and enterprise.
He outlined key sectors where US investors could play a transformative role such as renewable energy, agribusiness, technology and infrastructure – highlighting the continent’s youthful population, natural resources and strides in market integration as strong incentives.
Lourenço pointed to Angola’s own economic rebound – with growth reaching 3.5 percent in the first quarter of 2025 – as an indicator of wider continental momentum.
He also championed the African Continental Free Trade Area as a strategic priority for unlocking investment and innovation.
The summit, organised by the Corporate Council on Africa in collaboration with the Angolan government, runs until Thursday.
It features plenary sessions, deal rooms and panel discussions under the theme “US-Africa Business: Partnering for Sustainable Success.”
The high-level summit, hosted for the first time in Angola, brought together more than 2,000 delegates, including heads of state and government, senior US officials, African Union officials, diplomats, bankers and policymakers.
The forum aims to deepen commercial ties and galvanise US private sector involvement in Africa’s development trajectory.
JN/APA