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U.S.-Africa Business Forum Deals VideoTranscript

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0:04
The United States and Africa are open for business, and open for business together.


0:11
Africa is today's biggest market opportunity in the global economy.

0:16
It's an enormous opportunity to introduce business heads from both Africa and the United States to heads of countries.


0:23
We are working very very closely to marry the efforts of the Commerce Department and State Department


0:29
in order to assist companies and to work for American business but also to work for the countries that we represent.


0:35
You got people who are do-ers in the room who want to do commerce who want to do more business together,


0:41
and they are going to be able to work out whatever the issues are between themselves,


0:45
so this is really an important event.


0:48
Stay tuned for the announcements, the President will be announcing a number of deals and we are very excited.


0:53
American companies are announcing major new deals in Africa.


0:58
Flagstone will invest in African energy projects.


1:02
Coca-Cola will partner with Africa to bring clean water to its communities.


1:06
GE will help build African infrastructure.


1:11
Marriott will build more hotels.


1:15
All told American companies many with our trade assistance are announcing new deals


1:20
in clean energy, aviation, banking, and construction worth more than 14 billion dollars.


1:27
Spurring development across Africa and selling more goods stamped with that proud label: "Made in America."


1:32
This is a USTDA grant which will make an investment


1:36
of 675 thousand dollars in a study to evaluate the development of a hydro-powered plant.


1:43
So next we will witness the signing of a 50 million dollar direct loan from OPIC to American Capital Limited.


1:50
You know, as part of forming our joint venture with the Dangote industries company


1:59
we are going to be opening different offices and it's a very exciting type of activity.


2:06
The U.S.-Africa Business Summit has already produced spending pledges of 14 billion dollars.


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More than a dozen major companies.


2:13
The money will go into construction, finance, technology, and energy.


2:17
It's so exciting!


2:18
What has come out of this is enormous enthusiasm, great relationships,


2:24
the President announced 14 billion dollars in deals and I think that is just the beginning.


2:30
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.