Corporate Council on Africa (CCA) had much to celebrate throughout 2024 including some key events in the last quarter of the year. There was, however, no greater honor in wrapping up a successful year at CCA than to be invited by the White House to be part of President Biden’s official delegation to Angola – the last overseas trip of his presidency and ahistoric one no less. As the first sitting U.S. President to visit Angola, we had an amazing few days engaging with the private sector, civil society, and with President Lourenço, senior Government Ministers, and the Angolan Parliament. I was thrilled, but not surprised, to hear President Lourenço discuss the June 2025 U.S.-Africa Business Summit that Angola will co-host with CCA in his exchange with President Biden. I was pleased that both Presidents’ discussion focused on trade, investment, infrastructure, and stability – essentially the very same issues that Corporate Council on Africa has focused on throughout its more than30-year history and continues each day to advance.
The leaders emphasized the importance of deepening U.S.-Angolan and broader U.S.-Africa cooperation and acknowledged the historical context of the relationship while looking forward to a future of enhanced U.S.-Africa collaboration – particularly as President Lourenço takes on the Chairmanship of the African Union in 2025. The visit also included a Summit on infrastructure investment in Lobito, Angola, with leaders from Angola, the Democratic Republic of the Congo (DRC), Tanzania, and Zambia. This summit aimed to accelerate the development of the Lobito Trans-Africa Corridor, enhancing trade and investment opportunities across the region and serving as a potential model for regional infrastructure projects across the continent. Overall, President Biden’s trip to Angola highlighted a strategic approach to U.S.-Africa relations, focusing on public-private sector partnerships and economic development spurred by private sector investment and commercial engagement.
When traveling with the Commander in Chief it is only prudent that CCA optimize our role as “Convener-in-Chief,” bringing everyone together to celebrate the successful Lobito Corridor Presidential Summit and all that it signifies for Angola and neighboring countries in the region, but for Africa. We co-hosted a delightful reception for the private sector and government officials with our counterpart the Angola Private Investment and Export Promotion Agency (AIPEX). The Minister of Commerce and Industry Rui Miguens de Oliveira set the right tone discussing how Africa and America are intertwined and all that binds our nations. Assistant Secretary of State for Africa Molly Phee and Helaina Matza, the Coordinator for Partnership in Global infrastructure (PGI) both emphasized the commitment of the U.S. Government to the project. President and CEO, Sumaila Zubairu of African Finance Corporation (a CCA member and the lead developer of the Lobito Corridor Project) spoke to how the project demonstrates what is possible in Africa. Together we brought in the right celebratory spirit and mood worthy of the occasion and used the moment to highlight the fruits of the Presidential visit and the tremendous reunion ahead at the U.S.-Africa Business Summit in Luanda June23-27, 2025.
After the visit, I was delighted to receive a thoughtful thank you note from President Biden in which he said “I appreciate your willingness to use your platform to bring members together to strengthen business relationships in Angola and across the African continent. Together we have strengthened existing partnerships and forged new ones across Angola and beyond.”
While being invited on this Presidential trip was an unbelievable honor of a lifetime, I give great credit to our member organizations and the CCA team who continue to make CCA a formidable force of good in advancing trade, investment, and business with and in Africa. This honor was for us!
CONGRESSIONAL ACTIVITY –AGOA/U.S.-AFRICA LEADERS’ SUMMIT
There was great momentum on the Hill and in Washington in the very last days of the year to reauthorize The African Growth and Opportunity Act (AGOA). Sadly, this legislation did not pass, and I’d be remiss if I didn’t express my disappointment – especially since many organizations which are part of the AGOA Renewal and Enhancement Alliance (AREA) along with others have been sharing for some time how critical it is that AGOA be renewed as soon as possible for as long as possible if the United States wants to be a more strategic partner of Africa relative to China and other bilateral partners. Nevertheless, we are even more committed now to doubling down to advance this issue with the new Administration and 119th Congress. In fact, we feel encouraged that in the next Congress there may be more unified support to ensure AGOA is finally reauthorized and even enhanced.
Beyond several draft bills introduced by both Senate and House leaders, we are ecstatic to see that the National Defense Authorization Act (NDAA) legislation passed with bipartisan support authorizing the U.S.-Africa Leaders’ Summit be held on a biannual basis! This legislation (Section 7803 of H.R. 5009), complete with funding, establishes a bi-annual Summit and institutionalizes a coordination unit to plan all efforts of the Summit. Convening a legislatively-mandated U.S.-Africa Leaders’ Summit (“not later than one year after the date of enactment of this Act and biennially thereafter”) is a huge win for U.S.-Africa relations that signals that the United States, like Africa’s many other bilateral partners around the world, views Africa as a critical geostrategic partner and recognizes the importance of its economic and development initiatives on the continent. The law encourages greater investment in Africa’s economic development, including initiatives aimed at improving infrastructure, healthcare, energy, and education. It also recognizes the continent’s growing economic potential and seeks to foster trade relations that benefit both the U.S. and African nations. This is indeed an impressive legislative victory and a great way to end2024.
PODCAST
It’s important to leverage every opportunity to raise awareness and understanding of the important work at the Corporate Council on Africa CCA). I was pleased to participate in a podcast interview with Mercury Global Reports Tox Podcast – an affiliate of the Washington Post. I spoke with host Marios Tsokkos, CEO of the World Association of Investment Promotion Agencies (WAIPA) and highlighted the potential for investment and collaboration between the United States and Africa. We discussed the critical sectors of energy, agriculture, technology, and infrastructure, highlighting the immense opportunities for growth and development. Of course, I couldn’t let the opportunity pass to invite his listeners and audience to join us for the Summit in Luanda.
PAC- DBIA
We closed 2024 strong and were delighted to celebrate the10-year anniversary of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA). It was motivating to see what has been accomplished in 10 years of advising the President of the United States and the incredible milestones accomplished by this group. We highlighted CCA’s collaboration with the PAC-DBIA and its members (many of which represent CCA member companies) and our commitment to work with the USG and PAC-DBIA on future strategies to further strengthen U.S.-Africa trade, investment and business ties as well as tackle emerging challenges. Most of all, the importance of continued public-private sector collaboration was underscored in promoting sustainable economic growth and development across the continent as well as a mutually beneficial U.S.-Africa economic relationship. We look forward to celebrating another 10years with the President’s Advisory Council on Doing Business in Africa.
LOOKING AHEAD
While 2024 is now in the rear-view mirror, there is already so much in the works for 2025. We are working diligently to engage with incoming officials of the second Trump Administration to share our ideas and recommendations for Africa engagement. CCA will once again be convening an event with African leaders during the African Union Summit in Addis Ababa, Ethiopia in February 2025. We’ll be hosting the Africa 2025 Economic Outlook event in the early months of 2025 and organizing a North Africa Health Regulatory Workshop in Cairo, Egypt February 10-11. We look forward to co-hosting with the Government of the Republic of Angola at our next U.S.-Africa Business Summit in June 2025. Clearly so much more is instore for 2025!
I hope that you, your families and colleagues enjoyed the holidays and have emerged in this new year with a renewed spirit and energy to partner with CCA to advance the U.S.-Africa trade, investment, and business relationship in 2025!
Sincerely,
Florizelle LiserPresident & CEOCorporate Council on Africa
