Fresh Opportunities to Corner Money-Spinning Markets as USATIGS-2019 Opens New Frontiers for Investment in Africa

Dipo Kehinde/

All roads are leading to Atlanta, Georgia in the United States for businessmen around the world hoping to attract new investments and tap into a fast-growing African market from September 26 – 28, 2019.

For those who don’t know what the Atlanta attraction tagged USATIGS 2019 is all about, the organizers described it as a trade Summit and multi-sector expo that will provide participants from the United States and African countries with a unique platform to exhibit and promote their products and services in the United States. The Summit (http://www.usafricatradesummit.com/) will also address the constraints and barriers that exist in identifying export markets for African product lines and encourage the establishment of long-term trade partnerships and business linkages between Africa and the Americas.

Themed “Expanding the Frontiers of US – Africa Trade and Investment,” the summit will feature unparalleled networking with business professionals, engagement with the US administration, access to high-level representatives of African Heads of Government, and dynamic sessions on doing business in Africa. It will indeed provide a veritable platform for Africans to woo investors and for investors to see and have firsthand interactions with the market.

The organizers also told NewsmakersNG that Africa’s fast-growing population and markets present important opportunities for businesses in an environment of slowing global growth. At the same time, greater innovation and investment from Business is essential to meet Africa’s unfulfilled demand for goods and services, close the gaps in its infrastructure, create jobs, and decrease poverty.

In a statement received by NewsmakersNG, the Director of Communication for USATIGS – 2019, Abigail Anaba, made this analysis:

Africa’s 54 countries are diverse in terms of population, development levels, growth rates, and stability. While Nigeria has nearly 190 million people and Ethiopia and Egypt have over 90 million people each, most African nations have populations below 20 million. Likewise, nine countries make up three-quarters of Africa’s GDP, and in 2030 three countries will represent almost half of the household consumption on the continent: Nigeria (20 per cent), Egypt (17 per cent), and South Africa (11 per cent). Many smaller countries, however, are growing quickly and increasing their share of continental GDP and consumption.

Africa is the new Asia, the last frontier for global trade and investment. For a fact, the shift in trade policies of the world’s economic giants such as the breaking of alliances (as we have seen with the renegotiation or ending of trade deals) is proof that Africa now occupies a strategic position. Africa has become the beautiful maiden that brings all the boys to the yard.

Now, this is huge! Africa hosts ten of the World’s top twenty fastest growing global economies according to the IMF. The continent will hold steady a growth rate of 3 8% this 2019. Plus, it holds an abundance of natural resources. And with a population of 1.3 Billion, mostly young and increasingly urbanized, Africa is positioned to contribute the human resources necessary to encourage investment. Only investors willing to put in the time and effort required can win her.

China seems to be saying all the right things and presenting all the right gifts. In just over a decade, about one million Chinese entrepreneurs have headed into Africa, Chinese investment in Africa has risen by 50% compared to US investments, totalling about 300 Billion dollars. The Asians appear to have a hack into the African market, but the fact remains that the market still has tremendous potentials.

The facts say it all. Four of the ten fastest-growing economies in the world are in Africa. By 2050, Africa will account for 20-25% of the world’s population, more than China or India. And each country in the region has made it easier to do business through a host of regulatory reforms. It’s true, Africa is ripe with opportunities, but they go largely untapped by North American firms, which have been hesitant to enter markets where their European and Asian competitors are already doing business – and profiting from it. The reality soon will be “If you are not doing business in Africa, then you are not doing business”!

Africa is not a country. Therefore, it does not present a homogenous market. To corner a larger chunk of the market requires strategic investment in targeted countries and even more targeted sectors. More recently, the United States has seen the challenge China poses and it has made strategic plans to increase investment in Africa. The question remains what and where to invest in getting the best returns. No one is in a better position to provide an answer to that question than Africans working with Africans in Africa. Businesses and individuals who want to invest in the continent will be best served by listening to what Africa has to say. It is against this background that African strategists and people in business, under the aegis of the U.S. – Africa Trade and Investment Global Summit (USATIGS), are presenting the three-day gathering to address the investment opportunities available in Africa.

The statement also signed by the Executive Director/CEO, Mr Titus Olowokere, says participants at the summit holding at the KSU Centre in Atlanta, Georgia will be part of the thematic plenaries as well as the parallel break-out sessions. The program will also include moderated exhibitions and culminate in an African Cultural Night on Saturday, September 28, 2019.

A porter has been opened for intending participants to register at http://www.usafricatradesummit.com/registration/.  They may also contact the organizers at http://www.usafricatradesummit.com/contact-us/

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