TRALAC - Trade Law Centre

US and African businesses to convene in Cape Town

Monday, 13 August 2007

Source: Corporate Council on Africa (Washington, DC)

The Corporate Council on Africa (CCA), with the support of leading U.S. corporations, African businesses, and global leaders from the private and public sectors, will host its 2007 U.S.-Africa Business Summit in Cape Town, South Africa, November 14-16, 2007.

Hosted every two years, this is CCA's sixth Summit, but the first-ever to be held in Africa. More than 1,500 participants are expected to attend.

As CCA's flagship event, the Summit provides a forum for some of the world's top global business leaders to discuss trade and investment opportunities in Africa, best practices, and how best to increase trade and investment in ways that will help engender sustainable growth on the continent.

The 2007 Summit will feature business trade missions led by a diverse pool of U.S. organizations, to nearly 30 African nations. In an unprecedented offering, Summit delegates will have an opportunity to explore business prospects in an additional African country, immediately following the Summit in Cape Town. Each trade mission will feature a financing expert.

The three-day U.S.-Africa Business Summit will include sector-specific plenary sessions, workshops, business networking opportunities, and a two-day trade expo where businesses will showcase their products, services, and capabilities to potential buyers and customers throughout Africa. Sessions will focus on key sectors including, infrastructure development, mining, agribusiness, telecommunications, energy, transportation, and sports and tourism among numerous others.

"U.S. businesses have taken notice of the expanding interest in Africa by nations such as China, India, and Brazil and realize that to remain competitive they too must sustain their presence and investment on the continent," said CCA President Stephen Hayes . "We are proud to host the Summit in Africa for the first time, and overwhelmed with the response we've received from some of the world's premiere corporations and global leaders who understand the importance of both having this dialogue and taking advantage of the many commercial opportunities across a variety of commercial sectors that exist throughout Africa."

In a letter addressed to CCA Board of Directors Chairman Maurice Templesman, U.S. Secretary of State Condoleezza Rice wrote, "I applaud the decision of The Corporate Council on Africa to host the U.S.-Africa Business Summit in Cape Town in November…[this is an] important opportunity for U.S. and African political, business, and civil society leaders to work together to address development challenges. I thank you for your strong support and continued cooperation on one of the most significant foreign policy challenges of our time: promoting U.S.-Africa business ties and strengthening U.S. trade and investment in Africa."

To date, corporations including Chevron, Merck, ExxonMobil, Boeing, 3M, Cargill, General Motors, Chrysler, Hewlett-Packard, Development Bank of Southern Africa, and Lazare Kaplan International; as well as media outlets including New African, African Business, Corporate Africa, and Institutional Investor, have come together as sponsors of the upcoming Summit.

CCA's U.S.-Africa Business Summits have a stellar track record of attendees and high-powered workshop and plenary sessions. Former World Bank President Paul Wolfowitz, former U.S. Secretary of State Colin Powell, President George W. Bush, South Africa President Thabo Mbeki, and many other African Heads of State have participated in past Summits.

To find out more about the upcoming Summit visit www.africacncl.org.

CCA, established in 1993, is a nonpartisan 501 (c) (3) membership organization of nearly 200 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. The organization is dedicated to bringing together potential business partners and to showcase business opportunities on the continent.