Staff Reporter
PRESIDENT João Lourenço of Angola officially opened the 17th United States (U.S.)–Africa Business Summit on Monday in Luanda, with Heads of State and Government in attendance, alongside thousands of other participants, including investors, bankers, dealers, entrepreneurs, and creators from various sectors, as well as politicians and diplomats.
The summit marked the beginning of a dialogue that the organisers hope will bring the United States closer to Africa, through a new and inspiring vision focused on direct investment by American companies on the continent. This was underlined by Lourenço, who highlighted the shift from a historically aid-based American presence in Africa toward “a presence more oriented towards private investment, innovation, and the building of robust partnerships.”
The full version of the President’s speech follows:
“Your Excellencies, Heads of State, Government, and Delegations;
- His Excellency Mohamed Youssuf, Chairperson of the African Union Commission;
- Your Excellencies, Vice President of the Republic, Speaker of the National Assembly, and Presidents of the Superior Courts;
- His Excellency Ambassador Trot Fitrel, Senior Official of the Africa Bureau, U.S. Department of State;
- His Excellency Massad Boulos, Senior Advisor for African, Arab, and Middle Eastern Affairs;
- His Excellency Thomas Hardy, Director of the U.S. Trade and Development Agency;
- Her Excellency Florizelle Liser, CEO of the Corporate Council on Africa;
- Distinguished Members of the Executive;
- His Excellency Governor of Luanda Province;
- Distinguished Presidents of the African Development Bank, AUDA-NEPAD, the Trade and Development Bank, the Arab Bank for Economic Development in Africa, and the African Finance Corporation;
- Esteemed Guests;
- Ladies and Gentlemen,
It is with great honour that I address you all as host of this business summit — a privileged platform to continue shaping an economic paradigm grounded in strategic partnerships with mutual benefits for the development of our nations and peoples, historically connected — Africa and the United States of America.
Today, more than ever, the African continent positions itself as one of the driving forces of global growth, with a young, innovative, and dynamic population, abundant natural resources, and increasing market integration. Africa is emerging as a privileged space for investment and growth opportunities.
Over the past decade, several African regions have undergone profound economic transformations. Structural reforms have been implemented to make our countries more attractive to investors, with a focus on transparency, regional integration, macroeconomic stability, and economic diversification.
What is happening in countries like Angola — where the economy resumed consistent growth, reaching 3.5% in the first quarter of this year — reflects a broader continental trend, affirming the resilience and dynamism of African economies.
However, to fully unlock our potential, we must intensify and accelerate the ongoing processes of continental economic integration.
We need more efficient logistics corridors and common rules that facilitate the movement of capital, goods, and people.
Strengthening the African Continental Free Trade Area is thus a strategic priority and represents an extraordinary opportunity for sharing infrastructure, knowledge, markets, and attracting investment.
To make this a reality and ensure Africa’s economic and social development, the continent has been striving to secure fairer and more favourable financing conditions from international financial institutions such as the World Bank, the IMF, other similar organisations, and private banks, for vital public investment in road, rail, port, energy, water, ICT, and telecommunications infrastructure.
Ladies and Gentlemen,
Economic ties between Africa and the United States of America hold significant growth potential.
Opportunities for direct private investment exist in key areas that align with both the continent’s priorities and the comparative advantages of American companies. These include renewable energy, agribusiness, and food security — supported by millions of hectares of arable land, abundant water resources, favourable climate, a large young labour force, and a growing need for technological modernisation and digital innovation, where African creativity meets American investment capacity to produce scalable solutions.
We also highlight strategic minerals, including critical minerals for the global energy transition, whose responsible exploitation could transform our economies and societies.
In this regard, we expect more than capital — we seek partnerships that respect our national sovereignty, prioritise local content, promote knowledge transfer, and create skilled jobs.
Excellencies,
Ladies and Gentlemen,
This forum should be seen as a key component in U.S.–Africa economic relations. Africa is no longer just a continent of mineral wealth, water and forest resources, and unmatched demographic growth — it is increasingly a continent of transformative decisions and concrete projects.
We aim — and are working — to electrify and, consequently, industrialise our countries, adding value to our raw materials, increasing employment, and preventing the exodus of our youth — our greatest asset — from risking their lives in the dangerous and humiliating journey across the Mediterranean in search of jobs and dignity.
From north to south and from the Atlantic to the Indian Ocean, large-scale investments are reshaping Africa’s economic landscape — from the Lobito Corridor, which will connect the Atlantic port of Lobito to the Indian Ocean port of Dar es Salaam by rail, potentially transforming intra-African and intercontinental trade; to special economic zones; and regional value chains in strategic sectors like critical minerals, agriculture, and energy.
Simultaneously, Africa’s digital transformation is accelerating. Start-ups and tech platforms emerge daily, driven by a creative and resilient youth that sees digital tools as paths to inclusion, entrepreneurship, and employability.
With over 70% of the African population under 30 years old, it is no exaggeration to say that the future of global innovation will bear an African fingerprint — and in many ways, it already does.
In a world marked by geopolitical instability — from Eastern Europe to the Middle East — the African continent, despite some localised conflicts or political tensions, is asserting itself as a partner of stability and long-term vision.
Global circumstances further reinforce the urgency of deepening our bonds of trust, economic cooperation, and strategic security — areas in which the United States of America plays an essential and unique global role.
In recent decades, the American presence in Africa has evolved — from being mostly aid-focused to increasingly driven by private investment, innovation, and the building of strong partnerships.
However, we hope U.S. direct private investment in our continent goes beyond the extractive industries of conventional and rare minerals and the oil and gas sector. We would like to see interest in other transformative sectors: iron and steel, aluminium, cement, agro-industry, shipbuilding, automotive, and tourism.
American companies already operating in Africa, including in Angola, find a business environment that is increasingly open and protective of foreign investors, with governments committed to facilitating, streamlining, and creating conditions for the private sector to lead the economy.
To American investors, Africa is ready. Our governments are prepared to act as facilitators, and our private sector is eager to build alliances that generate not only profit, but shared prosperity.
Ladies and Gentlemen,
New dynamics show us it is time to replace the logic of aid with the logic of ambition and private investment. It is time to see Africa as a credible partner — rich in potential, in need of financial capital and know-how, and eager to join forces for mutual benefit.
The United States of America — having never been involved in the colonisation of African countries — can afford a different, more unencumbered perspective of the continent. Your contribution to Africa’s development will be beneficial to America and to the world.
If we unite our efforts, together we hold the key to solving two of the world’s greatest crises: the food crisis and the energy crisis.
Once again, welcome to Angola. Enjoy the beauty of Luanda, the generosity and hospitality of the Angolan people. Experience our music, dance, cuisine, and unique natural landscapes.
Feel at home!
With these words, I hereby declare open the 17th United States–Africa Business Summit.
Thank you very much.”
