U.S. Chamber Launches Africa Business Initiative

Monday, May 18, 2009 - 8:00pm

Releases Executive Survey Regarding Business Prospects in Africa

WASHINGTON, D.C.—The U.S. Chamber of Commerce today launched the Africa Business Initiative (ABI) to help bridge the gap between U.S. business and Africa. The mission of the ABI is to engage the U.S. business community on policies that secure investment in Africa, facilitate trade between the United States and African countries, and introduce the U.S. business community to the continent's vast economic opportunities.

"Africa's successful integration into the global economy is essential to the long-term stability of the region," said Myron Brilliant, the Chamber's senior vice president of International Affairs. "The U.S. Chamber of Commerce is committed to developing relationships with African governments, businesses, and its one billion citizens."

ABI, in cooperation with the prominent South African firm Baird's Communications Management Consultants, also today released The Corporate Conversation, an inside-the-boardroom survey of attitudes toward corporate investment in Africa among leading U.S. corporations. The information, gathered during a series of closed-door interviews with senior executives of Fortune 100 companies, confirms that U.S. businesses are keenly interested in engagement with and investment in African nations.

"What this survey reveals is that U.S.-multinational corporations are seriously interested in investing in Africa and employing its people," said Brilliant. "But the biggest obstacles to economic engagement are the unknown and perceived risks. The ABI's job is to help these companies mitigate these risks through advocacy and access, and to identify the great investment opportunities that exist across the continent."

The study is available at: /sites/default/files/legacy/press/ABI_CEO_Suvey.pdf

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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