President Obama told the business forum that everywhere he travels in Africa, “from Senegal to South Africa, Africans insist they do not just want aid, they want trade. They want partners, not patrons.”
And that is what Wednesday’s forum, hosted by former New York City Mayor Michael Bloomberg and U.S. Commerce Secretary Penny Pritzker was all about – helping investors and entrepreneurs from both continents connect, as Obama explained: “This is a U.S.-Africa business forum. This is not charity. All of you should be wanting to make money, and create great products and great services, and be profitable, and do right by your investors. But the good news is, in Africa right now, if you are doing well, you can also be doing a lot of good.”
President Obama said during his eight years as president, he has sought to transform the relationship between the U.S. and Africa to one of equal partners. He said this is his last U.S.-Africa Business Forum as president, but he will likely be back as a private citizen.
Apart from increased private investment, the U.S. government has also expanded its presence and economic engagement in Africa
Since 2008, the Commerce Department has doubled its presence on the continent, opening new offices in Angola, Tanzania, Ethiopia, and Mozambique, expanding its presence in Ghana, and re-establishing a presence at the African Development Bank.
