The US-African 17th summit: US companies pledge to invest in several projects in Africa
Several US companies pledged to invest in projects in Africa, focusing on infrastructure, digital infrastructure, cybersecurity, and other areas, at the conclusion of the 17th US-Africa Summit in Angola.
A statement issued by the US Embassy in Luanda on Thursday stated that one of the agreements concluded during the summit stipulates cooperation between a US consortium and an Angolan group to build and operate 22 grain silos.
Another agreement includes the construction of a 1,150-kilometer power line between Angola and the Democratic Republic of the Congo, in addition to an agreement to develop West Africa’s first liquefied natural gas terminal in Sierra Leone.
Another agreement concerns US participation in a hydropower project, including Rwanda and the Democratic Republic of the Congo.
During the summit, US President Donald Trump’s Africa Advisor, Masoud Boulos, said that the Trump administration views the summit as an opportunity to deepen engagement in Africa’s economic landscape, adding that Washington views business and trade, not aid, as engines of long-term, sustainable growth.
Since the start of his new presidential term on January 20, Trump has announced significant cuts in US foreign aid, particularly for projects in Africa.
He has also imposed tariffs on various countries around the world, including dozens of African nations.
