September 30, 2009
MCC and Corporate Council of Africa Showcase African Investment Opportunities
Washington, DC - The Millennium Challenge Corporation’s (MCC) Acting Chief Executive Officer Darius Mans and other senior MCC officials are joining the Corporate Council of Africa (CCA) and over 1,500 private and public sector leaders in supporting major African investment and business opportunities at CCAs 7th Biennial U.S.-Africa Business Summit September 30-October 1.Despite recent global economic trends, Africa continues to show potential as a leading foreign direct investment destination for American businesses.The continent is seeing increasingly higher levels of investment in industries such as infrastructure, financing, tourism, agribusiness, health and energy.MCC considers the role of the private sector a key component in maximizing economic growth and poverty reduction in Africa.
This years Summit features an MCC workshop on investment and contracting opportunities open to international and local businesses.MCC officials are also speaking in workshops on the role of infrastructure in development assistance, the structuring of public-private partnerships for project development, safe water and transportation priorities.With substantial investments in health, education, microfinance and infrastructure, MCCs partner countries are building new markets, enhancing the environment for private sector investments and removing barriers to growth.MCC is devoting unprecedented resources to help partner countries in Africa positively transform the lives of the poor and catalyze long-lasting economic progress.Africa is the largest recipient of MCCs development assistance with well over $5 billion in poverty reducing grants over the past four years.
MCC recognizes that long-term poverty reduction must include a vibrant private sector and welcomes the private sectors constructive engagement with MCC in Africa and around the world said MCC Acting CEO Darius Mans.MCC recognizes Africas enormous promise.Working together with the private sector, we can help our partners achieve a more prosperous future for the people of the continent, Mr. Mans added.
The Summit features a historic number of corporate sponsors and includes participation from prominent members of President Obamas administration such as Johnnie Carson, Assistant Secretary of State for Africa; Ron Kirk, United States Trade Representative; Neal Wolin, Deputy Secretary of the U.S. Treasury; and Bud Philbrook, Deputy Under Secretary for Farm and Foreign Agricultural Services.Heads of State also participating at this years Summit are Rwandan President Paul Kagame, Ghanaian President John Atta Mills, Tanzanian President Jakaya Kikwete, Congolese President Denis Sassou Nguesso, Equatorial Guinean President Teodoro Nguema Obiang and Sao Toman President Fradique de Menezes.
About the Millennium Challenge Corporation
Millennium Challenge Corporation (MCC), a United States government agency working with developing countries, is founded on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and help eliminate extreme poverty. For more information about MCC, visit www.mcc.gov.
About The Corporate Council on Africa
Established in 1993, The Corporate Council on Africa is a nonpartisan 501 (c) (3) membership organization of nearly 180 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. The organization is dedicated to bringing together potential business partners and to showcase business opportunities on the continent.