Download the 2019 Annual Report
A decade ago, the U.S. Chamber of Commerce initiated its first-ever division dedicated to deepening the commercial ties between the U.S. and the diverse economies across the African continent. Since its establishment, the U.S.- Africa Business Center has been recognized as the leading advocacy organization focused on the policy and regulatory environment that is shaping Africa’s commercial links with the world. 2019 proved to be a seminal year across Africa. We saw once-in-a-generation political transitions in markets that were once considered dictatorships. Democratic movements by youthful populations in Algeria and Sudan, for example, created new openings for popular dissent. While we largely consider these changes good for business in the long term, it is still unclear how they will impact our members’ ability to invest in these markets amid uncertainties in political leadership. Among these political upheavals, the continent has shown its resilience by gathering enough signatories to ratify the African Continental Free Trade Area. Its entry into force creates new openings for unleashing business opportunities estimated at $5 trillion by 2025, improving intra-African trade, and modernizing trade and investment mechanisms throughout the continent. In the U.S., the Trump administration launched its Prosper Africa initiative with the goal of making it easier to access U.S. government trade and investment support services. We have also seen the first steps made by the Africa office of the U.S. Trade Representative toward a possible Free Trade Agreement (FTA) with a sub-Saharan African nation, with Kenya as a leading contender.
With these milestones as a backdrop, the USAfBC continued to expand its impact on U.S.-Africa relations. We hosted 7 heads of state and 11 ministers and launched new bodies of work in corporate citizenship, highlighting the positive impact our members have on communities across the continent. To mark the centennial of 20th century icon Nelson Mandela, we hosted a business summit and fireside chat with former Secretary of State Madeleine K. Albright and Head of International Affairs Myron Brilliant at the U.S. Chamber of Commerce, followed by a gala dinner where President Barack Obama delivered remarks. The center convened its annual board of directors meeting in Addis Ababa, Ethiopia, where our board had the opportunity to engage with President Sahle-Work Zewde, meet with representatives of the African Union, and discuss the business climate in Africa’s third most populous country. We hosted our first-ever Agriculture Technology (AgTech) body of work at an event in Des Moines, Iowa, at the World Food Prize with our partners at the World Bank and the African Development Bank. We also relaunched the U.S.-South Africa Business Council, the only U.S.-based organization dedicated to increasing investment and facilitating deeper trade ties between the U.S. and South Africa.
The center’s policy work in Washington, D.C., and throughout the continent continued to ease the cost of doing business for our members. Task forces focused on digital economy, supply chain and trade facilitation, and life sciences and wellness. Through the industry coalitions we convened, we raised and resolved policy and regulatory issues, delivering a substantial return on investment to our members and policy wins on a wide range of matters, including through shaping the Prosper Africa initiative. We witnessed governments in Ghana, Kenya, South Africa, and Nigeria react to our comment letters and in-person interventions. We released a seminal report titled Purpose and Prosperity: How U.S. Businesses Are Creating an Impact in Africa, as well as a companion document on corporate citizenship in Ethiopia. Also, we rereleased an updated version of our report titled Digital Drivers: Enabling the Growth of the Digital Economy in Africa.
The USAfBC will continue to be forward leaning in seeking opportunities to engage members of Congress, administration officials, and African government decision makers on new initiatives and U.S. government policy priorities. In 2020, the center will focus on areas of excellence in the policy space by doubling down on its leadership role in the trade, digital economy, and life sciences and wellness areas. We will continue to build out the US-SABC and have a keen eye toward Algeria, Nigeria, and Kenya. The center will expand its reach outside of Washington, D.C., developing an online-based membership platform, and engaging policymakers at all levels of government in the U.S and across Africa.
