By Boma Achenimie
The United States has announced that the 17th U.S.-Africa Business Summit generated over $2.5 billion in new trade deals and investment commitments, reinforcing its commitment to fostering economic partnerships across the continent.
According to a statement from the U.S. Department of State, the high-level summit held from June 22 to 25 and co-hosted by the Corporate Council on Africa and President Jo茫o Louren莽o of Angola brought together more than 2,700 leaders from the U.S. and African public and private sectors. This year鈥檚 summit saw a record turnout, including participation from 12 African Heads of State.
鈥淒uring the summit, more than $2.5 billion in new deals and commitments between U.S. and African partners were announced,鈥 the department said, highlighting the shift in U.S. policy toward investment-led growth over traditional aid.
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Key Deals and Strategic Partnerships; Amer-Con Corporation (U.S.) and Angola鈥檚 Cargo and Logistics Certification Regulatory Agency signed a strategic partnership to build and operate 22 grain silo terminals along the Lobito Corridor. Backed by the U.S. Export-Import Bank, the project aims to improve Angola鈥檚 food security and agricultural logistics.
Cybastion (U.S.) and Angola Telecom signed a $170 million investment deal to expand digital infrastructure and cybersecurity under Cybastion鈥檚 鈥淒igital Fast Track鈥 initiative, which includes training and local capacity building.
CEC Africa Sierra Leone Ltd. signed an MoU with U.S. partner AG&P, backed by the U.S. International Development Finance Corporation, to develop West Africa鈥檚 first U.S.-sourced LNG terminal, powering the 108MW Nant Power Project and enhancing access to affordable energy.
The Ruzizi III Holding Power Company and U.S.-based Anzana Electric Group agreed on a 10% equity investment in a $760 million hydropower project spanning Rwanda and the DRC, aimed at providing electricity to 30 million people and boosting regional stability.
Ethiopia Investment Holdings signed a deal with U.S. International Finance Partners to invest over $200 million in luxury hotels, branded residences, and tourism infrastructure, aligning with the development priorities of President Taye Atske Selassie.
Hydro-Link (U.S.) partnered with the Angolan Government on a $1.5 billion transmission line project to deliver up to 1.2 gigawatts of clean energy from Angola to mineral-rich regions in the DRC, supporting critical mining operations.
The U.S. Department of State emphasized that the summit reflects a strategic pivot toward economic diplomacy in Africa, aligned with the Trump Administration鈥檚 Commercial Diplomacy Strategy for Africa.
The U.S. delegation was led by Amb. Troy Fitrell, Senior Bureau Official for African Affairs, alongside senior representatives from the U.S. Trade and Development Agency, USTR, DFC, and Export-Import Bank.
鈥淭he record turnout made clear that both U.S. and African leaders share a strong commitment to significantly expanding trade and investment,鈥 the department added.
The summit not only deepened bilateral economic ties but also laid the groundwork for mutual prosperity, reaffirming the U.S. vision of Africa as a peer and partner in driving sustainable development through private-sector-led initiatives.