President Obama and the promise of trade and investment drew the leaders to Washington’s summit but the results will emerge only slowly
For many, the most emblematic moment of Washington's maiden Africa summit on 4-6 August came at the end of an intense day of economic and commercial debate on 5 August, when President Barack Obama sat in on a 15-minute discussion with Takunda Chingonzo, a 21-year-old internet entrepreneur from Zimbabwe. It was a conversation of the free-ranging kind that Obama had specified for the following day at the Leaders Summit. It was also a signal that the USA wanted to send about its offers of partnership with Africa, the continent with the youngest population.The tacit warning was that if Africa misses the chance to reap the benefits of that demographic dividend, with massive investment in education and infrastructure, the political and security consequences could be horrific, reaching well beyond the continent's shores. It seemed the message about Africa's commercial opportunities was designed as much for the 100 or so big US companies and their associates as for the African state and commercial delegations. Just over 1% of US foreign investment goes to Africa but that figure could jump if the business chiefs and state officials at the summit make good on their promises.
Africa Confidential
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