PRESS RELEASE
Washington, D.C., May 6, 2024 — On May 6-9, in Dallas, Texas, the Corporate Council on Africa will host the 16th U.S.-Africa Business Summit, bringing together more than 1,500 U.S. and African public and private sector executives, international investors, government officials, and multilateral stakeholders. The goal of the summit is to drive sustainable business partnerships between the U.S. and Africa by improving economic ties between the regions and supporting the growth of businesses. ACDI/VOCA and its impact investing subsidiary, AV Ventures, share this goal, which is why both organizations are engaging in this critical platform.
High-Level Dialogue on May 7 to Explore Agribusiness Partnerships
On Tuesday, May 7, from 2:00 – 3:00 p.m. (EST), Sylvia Megret, President & CEO of ACDI/VOCA, will speak on a “High-Level Dialogue” designed to connect African government delegations, including Heads of State, with senior U.S. government officials and CEOs and executives of U.S. and African companies.
The session, titled “From Food Insecurity to Thriving Agribusinesses – The Case for a U.S.-Africa Strategic Agribusiness Partnership,” will build a compelling case for resilient, strategic partnerships. Africa currently has 60 percent of the world’s uncultivated arable land, but many regions struggle with food security, resilience, and the challenges associated with a growing population. To reshape its food future, it needs expertise, technology, and strong partners. The U.S. agriculture sector possesses that expertise and needs new markets for growth, making collaboration a win-win.
During this dialogue, Megret and others will showcase examples of when investments between the U.S. and Africa have succeeded and look ahead to the challenges and opportunities to come.
Panel on May 8 to Examine the Potential for Scaling Agribusinesses
On Wednesday, May 8, from 10:30 – 11:45 a.m. (EST), Ovidiu Bujorean, Senior Director of Investments and Innovating Finance at ACDI/VOCA and AV Ventures, will speak on a panel about what it would take to see the U.S. private sector invest more in African agribusinesses.
The session, titled “Scaling Agribusiness Ventures: Opportunities and Challenges in Taking African Agriculture to the Next Level,” will ask the important questions around why Africa receives some of the lowest amounts of foreign direct investment in the world, despite its potential to become an agriculture powerhouse.
About the Summit
This year’s summit will attract an average of 1,000 attendees from 40 countries. Previous summits alternated between the U.S. and host countries across Africa, most recently in Botswana in 2023. Its host, the Corporate Council on Africa, was established in 1993 and is the premier U.S. business organization focused on promoting greater U.S.-Africa trade, investment, and business partnerships.
Those in attendance will hear from more than 100 business and government leaders working in agribusiness, finance, energy, health, infrastructure, ICT, creative industries, and more. Special guests will include the presidents of Liberia, Malawi, Angola, Botswana, and Cabo Verde as well as the vice president of Nigeria, deputy prime minister of Lesotho, and chief minister of Sierra Leone. Other government officials and executives in attendance will include Ambassador Linda Thomas-Greenfield, Representative of the U.S. to the United Nations, Alice Albright, CEO of Millennium Challenge Corporation, and Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, among many others.
About ACDI/VOCA
ACDI/VOCA is a global non-profit development design and delivery partner based in Washington, D.C. We have implemented effective economic and social development projects around the world since 1963. Our areas of expertise include sustainable agriculture, economic opportunity, resilience, access to finance, and equity & inclusion. Learn more at acdivoca.org.
About AV Ventures
AV Ventures is ACDI/VOCA’s impact investing subsidiary. We provide innovative, catalytic financing to small and medium enterprises with strong potential for growth and impact in Africa, Central Asia, and Latin America. Such investments contribute to more competitive, resilient, and inclusive market systems and provide better economic opportunities for marginalized communities. Learn more at acdivoca.org/av-ventures.
About Tanager
Tanager, an ACDI/VOCA affiliate, is an international nonprofit that brings people together at the table, on the ground, and across supply chains to co-create economic and social opportunities that change lives. Tanager connects people and partners—including foundations and corporations—to unlock the full potential for shared market opportunities. Learn more at tanagerintl.org.
Roots to Food Podcast
The Roots to Foods podcast, brought to you by AV Ventures, is your gateway to the dynamic world of African agriculture. Join us as we dive deep into the agricultural sector, exploring innovative financing, investment opportunities, and cutting-edge technologies that are reshaping the landscape of African agriculture. Listen at rootstofoods.com.
