Posts Tagged ‘Africa’

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Historic Forum Yields Significant Gains for Africa-U.S. Business Ties

August 29, 2014

Stefan M. Selig is the Under Secretary of Commerce for International Trade.

Under Secretary of Commerce for International Trade Stefan M. Selig speaking with Elizabeth Littlefield, President & CEO of the Overseas Private Investment Corporation (OPIC) at the U.S.-Africa Business Forum

Under Secretary of Commerce for International Trade Stefan M. Selig speaking with Elizabeth Littlefield, President & CEO of the Overseas Private Investment Corporation at the U.S.-Africa Business Forum.

Earlier this month, the U.S. Department of Commerce and Bloomberg Philanthropies co-hosted an event showing that Africa is one of the world’s next great sources of economic growth.

The first-ever U.S.-Africa Business Forum brought together American and African business leaders with the heads of nearly 50 African nations to exchange ideas and create partnerships that will promote trade, accelerate job growth, and encourage investment.

And this was not just an academic discussion. We built the kind of relationships that will help usher in a new level of success for the growing economies and businesses of Africa, as well as spur real gains for U.S. companies.

Several American companies, among others, announced new partnerships in Africa, resulting in multi-million and multi-billion dollar deals:

Also, as part of the White House’s Power Africa initiative—which pledges to invest $7 billion and create an additional 10,000 megawatts of cleaner electricity over the next five years— American company Contour Global secured a $120 million contract to rehabilitate an existing Senegalese power site and construct a new one. That deal will provide another 53 megawatts of electricity to Senegal’s citizens.

As excited as my colleagues and I are about these deals, contract signings weren’t the only highlights of the forum.

The Obama administration, Commerce, and ITA announced several programs and initiatives to help American companies have continued access to opportunities in Africa:

  • President Obama signed an executive order establishing the President’s Advisory Council on Doing Business in Africa, which will include private sector guidance in expanding the U.S.-Africa commercial relationship.
  • The DISCOVER GLOBAL MARKETS: Sub-Saharan Africa Forum that will take place in Atlanta on November 5th and 6th will connect U.S. business leaders to even more opportunities in some of the world’s most promising markets.
  • The Commerce Department’s U.S. Commercial Service will more than double its presence in Africa, increasing our ability to support businesses with market insight and business matchmaking. We will open offices in Angola, Tanzania, Ethiopia, and Mozambique, and expand offices in Kenya, Ghana, Morocco, and Libya.
  • Commerce and the U.S. Trade and Development Agency will lead 20 African trade missions by 2020.
  • Commerce launched a new website highlighting African market information, export financing tools, and potential projects, contacts, and business resources.

I would like to thank Mayor Bloomberg and Bloomberg Philanthropies for all the hard work they put into the Forum. Without their leadership and support, the event wouldn’t have been nearly as successful.

If your company is ready to support economic, infrastructure, or business development in Africa, there’s never been a better time than now to contact your nearest Export Assistance Center.

I look forward to working with Secretary Pritzker, the Commerce team, and American and African business leaders as we continue to support the world’s next great economic success story.

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Build on U.S.-Africa Business Forum by Discovering Opportunities in Africa

August 7, 2014

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Logo. The DISCOVER Series is your business's link to expanding your exports all over the world.

The DISCOVER Series is your business’s link to expanding your exports all over the world.

The United States is putting full focus on doing business in Africa, following President Obama’s  U.S.-Africa Leaders Summit and the U.S.-Africa Business Forum. Business Forum co-hosts Bloomberg.org and the Department of Commerce project the event will catalyze $14 billion in new business deals.

Even though the Forum is now behind us, there are still plenty of new opportunities available in Africa, and the International Trade Administration wants to help you find them.

Our new Doing Business in Africa portal is a one-stop shop for finding resources, seeing success stories, and learning about opportunities on the continent.

Our upcoming DISCOVER GLOBAL MARKETS: Sub-Saharan Africa event in Atlanta, Nov. 5-6, will bring together private and public sector experts to discuss:

  • practical advice on trade finance;
  • African market entry strategies;
  • risk mitigation on the continent; and,
  • opportunities in a broad array of industry sectors — including oil and gas, agribusiness, health care, information technology, franchising, and consumer goods.

Register Now for DISCOVER: Sub-Saharan Africa

 

 

DISCOVER also offers pre-scheduled, one-on-one meetings with U.S. Embassy personnel from Angola, Cameroon, Cote d’Ivoire, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Africa, and Tanzania.

These specialists work in African markets every day, and can counsel U.S. businesses on market potential, bidding on government contracts, qualification of business partners, and the local regulatory environment.

With the ongoing government emphasis on Africa, there’s never been a better time for your business to look at these promising markets. Register for the Discover Forum now, and contact your nearest Export Assistance Center to learn about more opportunities.

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U.S.-Africa Business Success Stories: How a Supplier of Powerboats to the U.S. Military Started Doing Business in Nigeria

July 31, 2014

This post originally appeared on the Department of Commerce blog.

Hann Powerboats’ customers include the United States Air Force, United States Navy, and the United States Army Corps of Engineers – and now, because of assistance that the company received from the Department of Commerce, they can add another name to their impressive list: the Nigerian oil and gas company, MOP Marine.

U.S. businesses like Hann Powerboats are increasingly seeing tremendous economic opportunity in Africa, and the reason why is simple: Africa is thriving. From 1995 to 2013, Africa experienced an average annual GDP growth rate of 4.5 percent. In 2012, eight of the twenty fastest growing economies in the world were in sub-Saharan Africa, and, according to the IMF, in 2013, total U.S. two-way goods with the region were $63 billion. Africa’s potential to be the world’s next major economic story is why businesses in the United States, like Hann Powerboats, want to offer their products, services, and expertise to help unlock even more of Africa’s potential – that is why the Obama Administration and the Department of Commerce remain committed to assisting American businesses in finding opportunity in this economically expanding region.

Hann Powerboats became interested in expanding its business to Africa when it was approached by a potential client in Nigeria to secure MOP Marine’s need for patrol boats. Hann Powerboats asked for assistance from the Tampa Bay U.S. Export Assistance Center (USEAC) and the U.S. Commercial Service (CS) team in Lagos to help with vetting this potential partner, and CS Lagos was able to facilitate meetings between Hann Powerboats and MOP Marine. The Tampa Bay USEAC then helped put Hann Powerboats in touch with the Nigerian Embassy in Washington D.C. to help with them acquire proper documentation. The result of this assistance allowed Hann Powerboats to make sales to MOP Marine for over $4 million.

The U.S. Commercial Service is the face of the Department of Commerce around the world, and each day they help U.S. businesses like Hann Powerboats start exporting or increase sales to new global markets. That is why the Department of Commerce is dedicating more human resources to Africa by expanding its commercial service teams in Ghana, Kenya, Morocco, and Libya. For the first time ever, the Commerce Department is also opening offices in Angola, Tanzania, Ethiopia, and Mozambique. With a greater footprint in Africa, the Obama Administration and the Department of Commerce aim to make Hann Powerboats’s and MOP Marine’s story just another common example of the United States and Africa doing business.

Businesses interested in learning more about the benefits of exporting should contact their local U.S. Export Assistance Center

Please check back regularly for more success stories about companies doing business in Africa.

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U.S.-Africa Business Success Stories: A Kodak Moment: How the Department of Commerce Brokered a Deal between Eastman Kodak and an Egyptian Bank

July 25, 2014

This post originally appeared on the Department of Commerce blog.

When the Department of Commerce helped Eastman Kodak broker an exporting deal with one of Egypt’s largest state-owned banks, it was a true Kodak moment. American businesses like Kodak are becoming increasingly engaged in exporting to Africa, and the reasons why are clear:

  • Africa has made great strides towards achieving sustainable economic growth and widespread poverty alleviation.
  • Gross domestic product (GDP) in Africa is expected to rise 6 percent per year over the next decade.
  • Africa is set to have a larger workforce than India or China by the year 2040.
  • According to the World Bank, almost half of Africa’s countries have attained middle-income status.

Africa’s potential as the world’s next major economic story is why businesses in the United States, like Kodak, want to offer their products, services, and expertise to help unlock even more of Africa’s potential – and the Obama Administration and Department of Commerce are committed to helping these exporting businesses each step of the way.

Kodak, the company best known for pioneering photographic film products, has been an active client of the nearby Rochester U.S. Export Assistance Center (USEAC) for decades. This long-standing relationship connected Kodak with one of the largest state-owned banks in Egypt, Banque Misr. When the bank was about to place an order to purchase Kodak Scanners, Banque Misr was told that Kodak had encountered a financial problem not familiar to many outside the U.S.: Chapter 11 bankruptcy.

To better understand Kodak’s financial situation, Banque Misr contacted the U.S. Commercial Service in Egypt, which then contacted the Rochester USEAC. The Rochester USEAC  was able to confirm that Kodak was still operational and headquartered in Rochester. With the help of Tim McCall, a trade specialist in Rochester, and the U.S. Commercial Service, the bank received the proper paperwork and placed an order to Kodak which amounted to roughly $185,000 in export sales.

The Obama Administration and the Department of Commerce believe that Kodak’s and Banque Misr’s example can encourage other U.S. companies to do business in Africa. That is why, last year, President Obama announced the launch of Trade Africa, a partnership between the United States and East African Community (EAC) – Burundi, Kenya, Rwanda, Tanzania, and Uganda. Trade Africa aims to increase exports from the EAC to the U.S. by 40 percent, reduce the average time needed to import or export a container from African ports by 15 percent, and decrease by 30 percent the average time a truck takes to transit certain borders, making it easier for businesses on both side of the Atlantic to trade.

Businesses interested in learning more about exporting should contact their local U.S. Export Assistance Center.

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Connecting African Leaders to U.S. Industry Beyond the Beltway

July 25, 2014

This post originally appeared on the White House Blog.

The Honorable Leocadia I. Zak is the Director of the U.S. Trade and Development Agency.

Leocadia I. Zak

Leocadia I. Zak

The upcoming U.S.-Africa Leaders Summit, which is the largest single engagement by any U.S. President with our African partners, will help the United States play a driving role in the continent’s future development.

Many Americans are aware that sub-Saharan Africa is a fast-growing region with tremendous potential, but they may not know about significant plans to develop infrastructure across the continent. We believe that these plans represent enormous business opportunities for U.S. companies of all sizes, and that is why we have invited key African decision-makers to meet with private-sector leaders in Chicago and Houston prior to the Summit.

These African Leaders’ Visits, which the U.S. Trade and Development Agency is partnering with the U.S. Departments of Transportation and Energy to host from July 30 to August 1, will highlight the United States’ experience fostering economic growth through key infrastructure investments. These Visits are the only commercially focused events to take African leaders to major U.S. cities outside of Washington, D.C. on the occasion of the Summit.

U.S. Secretary of Transportation Anthony R. Foxx and I will co-host the African Leaders’ Visit: Transport in Chicago for transportation ministers whose countries have recently announced plans for significant near-term expansions in both rail and aviation infrastructure. Site visits to the Union Pacific Intermodal Terminal and O’Hare International Airport will feature the U.S. rail and aviation industries and demonstrate how the development of transportation infrastructure has made Chicago an international hub for finance, industry, and technological innovation.

U.S. Secretary of Energy Ernest Moniz and I will lead the African Leaders’ Visit: Energy in Houston for energy ministers as they face important decisions on how best to develop their countries’ extensive natural gas reserves. In Houston, the delegates will visit energy facilities that were developed to transport and utilize the area’s natural gas resources and that have helped create an economic boom.

Logo for the African Leaders VisitThe Visits will provide U.S. companies of all sizes exposure to African leaders in settings that showcase the operation of their cutting-edge technologies and services. In Chicago and Houston, the leaders will discuss investment opportunities in their countries and identify potential areas of partnership with the United States. U.S. businesses interested in participating in the Visits can find additional information at www.ustda.gov/africanleadersvisits or on social media via #ALVTransport and #ALVEnergy.

By emphasizing American ingenuity and innovation that can address the continent’s infrastructure needs, the African Leaders’ Visits will help establish new – and strengthen existing – commercial partnerships between the United States and Africa.

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U.S.-Africa Business Success Stories: How a Texas Oil Company Started Doing Business in Cameroon and Morocco

July 23, 2014

This post originally appeared on the Department of Commerce blog.

The geographic distance between Texas-based Arnold Oil Company and Sub-Saharan Africa may be thousands of miles, but their economic relationship has never been closer. U.S. businesses like the Arnold Oil Company are increasingly finding economic opportunity in Sub-Saharan Africa: between 2001 to 2012, U.S. trade to sub-Saharan Africa tripled from $6.9 billion to $22.5 billion dollars. Africa is now home to six of the top ten fastest growing economies in the world, leading President Obama to call sub-Saharan Africa the “world’s next major economic success story.” That is why the Department of Commerce is working to facilitate and advocate for American businesses in this growing region, and U.S. firms are eager to help unlock even more of Africa’s economic potential.

A family-owned supplier of automotive and oil lubricant products, the Arnold Oil Company became interested in expanding its business abroad. They met with the U.S. Export Assistance Center (USEAC) in Austin to request assistance in developing an exporting and marketing plan for their products. After creating a plan that satisfied the company, the USEAC arranged for a meeting with a representative from the U.S. Export-Import Bank to assist the Arnold Oil Company with financing its exports.

But the USEAC took its assistance one step further, introducing the Arnold Oil Company to a buyer in Cameroon, who eventually was signed as a distributer. As a result of this relationship, the Arnold Oil Company was able to ship their first exports of oil lubricants to Morocco, generating revenue of more than $24,000 in 2013. With assistance from the USEAC, the Arnold Oil Company was able to expand its business into one of the most economically dynamic regions in the world.

In 2012, the Commerce Department launched the Doing Business in Africa Campaign to help U.S. businesses, like the Arnold Oil Company, take advantage of the many export and investment opportunities in sub-Saharan Africa. As part of the campaign, Commerce has expanded trade promotion programs tailored toward Africa and dedicated an online Africa business portal to direct businesses to federal resources. In addition, on August 5, the Department of Commerce and Bloomberg Philanthropies will co-host the U.S.-Africa Business Forum, a day focused on strengthening trade and financial ties between the United States and Africa.  The Forum will be attended by President Obama, Secretary Pritzker, Mayor Bloomberg, and other senior U.S. government officials. The U.S.-Africa Business Forum will intensify efforts to strengthen trade and financial ties between the United States and Africa and seek to create partnerships that will promote trade, accelerate job growth, and encourage investment. These efforts are helping American businesses expand and enter the global market for the first time, and the Department of Commerce remains committed to helping create more exporting success stories.

Businesses interested in learning more about the benefits of exporting should contact their local U.S. Export Assistance Center.

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Discover the Next Markets for Your Business

May 1, 2014

Arun Kumar is the Assistant Secretary for Global Markets and Director General of the U.S. and Foreign Commercial Service.

Logo. The DISCOVER Series is your business's link to expanding your exports all over the world.

The DISCOVER Series is your business’s link to expanding your exports all over the world.

Succeeding in the global marketplace is all about intelligence. Businesses need to understand their target markets, identify the key opportunities, and have the resources to compete.

That’s what the DISCOVER GLOBAL MARKETS (DGM) Business Forum Series is all about.

Today in San Antonio, business leaders from around the country are joining U.S. Commercial Service staff from around the world to help companies do three things: Compete, win, and grow in the global marketplace.

The next two days will be full of market insight, best practices, key tips, and lessons learned for businesses looking to succeed in Africa, the Middle East, and India. These are three growing and promising global markets for U.S. companies.

What better place to for this event than in San Antonio, Texas, where exports have tripled since 2009!

But DGM isn’t about just one city or one region; it’s about opportunities – global opportunities. The DISCOVER series is traveling the country, providing unrivaled insight into growing export markets and key U.S. industries. Upcoming forums include the following:

Attendees at these conferences not only get to network with other business leaders and market specialists, they can receive one-on-one counseling with commercial officers working in target markets. They can also receive personalized strategic advice to make sure they have every advantage available when competing overseas.

If you couldn’t make this event in San Antonio, you can follow updates from the conference on Twitter at @DiscoverForums and with #DGMSanAntonio. You’ll be able to catch some of the insights participating businesses are learning and see first-hand testimonials as to how beneficial events like this can be for your company.

Make sure to check out the upcoming DISCOVER events and register for one near you. If you have questions, you can contact us right now at DiscoverGlobalMarkets@trade.gov.

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