The Acting United States (US) Secretary of Commerce Dr. Rebecca Blank has launched the “Doing Business in Africa” campaign, across the continent via a conference call.
The campaign, which is an administrative initiative is to help American businesses identify and seize opportunities that will further the United States’ commercial and trade relationship in Africa.
This initiative will hinge on four objectives; strengthening democratic institutions, spurring economic growth, trade and investment; advancing peace and security; and promoting opportunity and development.
As a part of spurring economic growth, trade, and investment, the campaign will leverage the United States’ trade promotion, financing and strategic communications capabilities to help U.S. businesses identify and seize opportunities in Africa, and to help them overcome any challenges they face to establishing a business relationship in Africa.
According to Dr Blank, the campaign is an important element of U.S. President Barrack Obama’s “U.S. Strategy toward Sub-Saharan Africa,” which was released on June 14, 2012.
She said US agencies would work to encourage U.S. companies and African Diaspora owned businesses to trade with and invest in Africa through expanded trade promotion programmes tailored towards Africa.
Dr Blank also stressed the African Growth and Opportunity Act (AGOA) continues to support the flow of African goods to the U.S. She said more than ever before, American businesses and consumers are buying African products such as flowers, fruits, nuts, cocoa, footwear, and wine.
Again, nonpetroleum exports under AGOA have tripled to nearly US$5 billion. Compared to a decade ago, more than twice the number of eligible countries are shipping non-commodity goods under AGOA.
Dr Blank also said the Obama's administration had stated its strong support for ongoing access to AGOA to be re-signed in 2015.
She also announced the establishment of the U.S. Africa Clean Energy Development and Finance Centre in Johannesburg.
The centre she said aims to provide a coordinated approach to clean energy project development in sub-Saharan Africa. Specifically, the centre will provide technical and financial support for clean energy project development by providing the U.S. private sector, as well as sub-Saharan African developers, with a centralised means to identify and access U.S. government support for their clean energy export and investment needs.
On access to finance for small businesses, Dr Blank said it was in part the responsibility of the national governments.
“The first responsibility for local small business has to be at a national level, but when there are opportunities for partnership with the U.S. government, we often do have financing available and, in fact, the organizations that do this within the U.S. have greatly increased their financial commitments within Africa over the last several years. So we have put literally billions of dollars of financing into a variety of African-based projects.”
Responding to concerns on the effect of labor difficulties on investment in Africa, especially South Africa, Dr Blank said “I think any business leader will tell you that their investment and commitment to an area is very strongly related to their sense of political and economic stability in that area.”
“South Africa has been a gateway for the rest of Africa, in part, because it has had a growing and stable economy. Certainly the recent labor issues that have arisen around mining and some of the deaths we have seen are a great concern. From my perspective, as Secretary of Commerce, I mean, my main concern here is you want to create a sense of stability. U.S. companies, U.S. businesses watch these things on the news, and it affects their view of whether South Africa looks like a place to bring their next investment.”
She added “So the peace and security aspects of the sub-Saharan African strategy are very closely linked to the commerce and trade aspects. You know, stable and strong and growing economies are usually also peaceful and secure economies.” GB
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