5 Takeaways about Doing Business in Africa

Secretary of Commerce: The United States and Africa are open for business, and open for business together.

Michael Bloomberg: Africa is today's biggest market opportunity in the global economy.

Secretary of Commerce: It's an enormous opportunity to introduce business heads from both Africa and the United States to heads of countries.

Secretary of State: We are working very very closely to marry the efforts of the Commerce Department and State Department in order to assist companies and to work for American business but also to work for the countries that we represent.

Secretary of Commerce: You got people who are do-ers in the room who want to do commerce who want to do more business together, and they are going to be able to work out whatever the issues are between themselves, so this is really an important event. Stay tuned for the announcements, the President will be announcing a number of deals and we are very excited.

President Obama: American companies are announcing major new deals in Africa.

Flagstone will invest in African energy projects.
Coca-Cola will partner with Africa to bring clean water to its communities.
GE will help build African infrastructure.
Marriott will build more hotels.

All told American companies many with our trade assistance are announcing new deals in clean energy, aviation, banking, and construction worth more than 14 billion dollars. Spurring development across Africa and selling more goods stamped with that proud label: "Made in America."

Matthew Murray: This is a USTDA grant which will make an investment of 675 thousand dollars in a study to evaluate the development of a hydro-powered plant. So next we will witness the signing of a 50 million dollar direct loan from OPIC to American Capital Limited.

Stephen Schwarzman: You know, as part of forming our joint venture with the Dangote industries company we are going to be opening different offices and it's a very exciting type of activity.

Narrator: The U.S.-Africa Business Summit has already produced spending pledges of 14 billion dollars. More than a dozen major companies. The money will go into construction, finance, technology, and energy.

Secretary of Commerce: It's so exciting! What has come out of this is enormous enthusiasm, great relationships, the President announced 14 billion dollars in deals and I think that is just the beginning. I think the other thing that has come out of this is a recognition by many many people about the opportunity that exists in Africa today.