US Vice President Mrs Kamala Harris highlighted, on Wednesday July 20, 2022, in Marrakech, her country’s commitment to help promote “inclusive and sustainable” economic growth in Africa.
“since last October, the United States has pledged more than $7 billion in humanitarian and food security assistance across Africa. More broadly, our Administration’s goal is to promote inclusive and sustainable economic growth and development across the continent, to expand capital flows, and to promote the vibrant spirit of entrepreneurship and innovation that is so prevalent across Africa,” she said in remarks via recorded video at the opening of the 14th edition of the U.S. Africa Business Summit.
Affirming her commitment to strengthening relations with all African countries, Ms. Harris highlighted the many economic opportunities that exist between the two sides.
She also recalled that Africa is the world’s fastest-growing continent. “By 2030, the continent will have 1.7 billion people, home to one-fifth of the world’s population. The continent is also increasingly young, urban and connected. There is a growing demand for food, healthcare, education, technology, and infrastructure,” the US VP said.
“Yet, barriers remain: limited access to capital, the high cost of financing, and legal and regulatory bottlenecks. This is on top of the global challenges that I know are felt acutely in Africa, including recovery from the COVID-19 pandemic, the climate crisis, and food insecurity,” Ms. Harris said.
The US official assured that the Biden-Harris Administration is committed to working with all of you to address these issues, in furtherance of the African Union’s Agenda 2063.
With regard to food insecurity, Ms. Harris said the US Administration is focused on the urgent need to increase food production and exports with and within Africa, a challenge made worse by war in Ukraine.
“I am pleased to see the advances made in implementing the African Continental Free Trade Area and we will work with you to ensure its success,” she added, noting that the United States is committed to “bringing to bear all the tools at our disposal, including, development financing, grants and technical assistance, and support for legal and regulatory reforms—all to help our African partners thrive.”
The Vice President announced a summit between the United States and dozens of African countries in December in Washington, D.C., to discuss challenges ranging from food security to climate change.
The summit, scheduled for December 13-15, will demonstrate the U.S. enduring commitment to Africa and underscore the importance of the U.S.-Africa relationship and increased cooperation on shared global priorities.
Placed under the High Patronage of His Majesty King Mohammed VI, this Summit which will run until July 22, at the initiative of the “Corporate Council on Africa” (CCA), brings together a large U.S. government delegation, African ministers and decision-makers of the largest U.S. multinationals and African business community.