• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

US, Africa firms seal $15-billion of deals at Washington summit

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
137
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

US, Africa firms seal $15-billion of deals at Washington summit

American and African firms reached more than $15-billion in new commitments and deals at a summit hosted by President Joe Biden as the US moves to increase its commercial ties with the continent through investments rather than aid.

The commitments cover sustainable energy, health systems, agribusiness, digital connectivity, infrastructure, and finance, the White House said in a statement on Wednesday.

Presidents from more than 40 African nations are in Washington for the three-day summit, the first of its kind in eight years. The US is trying to deepen its ties with the continent as it competes for influence with rivals China, Africa’s largest trading partner and bilateral creditor, and Russia, which has successfully strengthened relations with the region in recent months as western nations tried to isolate it over its invasion of Ukraine.

The US government has helped close more than 800 two-way trade and investment deals across 47 African countries for a total estimated value of over $18-billion, and the American private sector has closed investment deals in the continent valued at $8.6-billion since 2021, the White House said.

Some of the initiatives emerging from the summit’s business forum include:

  • At least $170-million by Prosper Africa – the US government initiative to increase trade with the continent – to boost exports to the US by $1-billion over the next five years, and mobilise another $1-billion in US investment in Africa.
  • Cisco Systems, the biggest maker of machines that run computer networks and the internet, is partnering with Cybastion, a diaspora-owned small business, for $800-million in new contracts to protect African countries from cyber threats.
  • The US-Africa Clean Tech Energy Network – a partnership between Prosper Africa and the US Agency for International Development’s Power Africa initiative – to facilitate up to $350-million investment in clean-tech energy companies within the next five years.

The Office of the US Trade Representative also signed a memorandum of understanding with the secretariat of the African Continental Free Trade Area (AfCFTA) “to support institutions to accelerate sustainable economic growth across the continent,” the White House said.

The AfCFTA – which would be the world’s biggest free-trade zone by area when it kicks into full gear in 2030 — became operational in January last year and has a potential market of 1.3 billion people with a combined gross domestic product of $2.6-trillion.

Source: bloomberg
Via: norvanreports
Tags: AFCFTAAfricaAfrica firms seal $15-billion of deals at Washington summitUSWhite House
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.