Businesses from Africa and the United States are strengthening their partnerships and expanding collaborations
In June 2025, the 17th edition of the US-Africa Business Summit was held in Luanda, Angola, marking a significant step forward in the country's business landscape. Hosted by Angola, a nation engaged in a major drive to diversify its economy away from hydrocarbons, the summit was a testament to the country's readiness to do business.
The summit, organized by the Corporate Council on Africa, a US business association dedicated to unlocking the potential of African markets for American businesses, saw record-breaking deals and commitments. A total of $2.5bn in deals and commitments were made, evidence of progress in Angola and the continent as a whole.
One of the key projects highlighted at the summit was the Amufert plant, a project by the Opaia Group. Founded by Kapaia in 2002 with the goal of building out Africa's infrastructure, Opaia Group has grown to operate across Africa and around the world. The Amufert plant, scheduled to open in 2027, will produce 1.38mn metric tons of fertilizer annually and employ 4,700 people between construction and operation.
The Amufert plant is integral to Africa's future food and economic security. With Africa home to six out of ten of the fastest growing economies, the continent is an attractive destination for businesses. The plant, along with potential future plants, will contribute to Africa's ability to feed its growing population and support its economic growth.
The US-Africa Business Summit also underscored the US's support for the African Continental Free Trade Area (AfCFTA), which aims to boost intra-African trade. The AfCFTA, along with infrastructural investments and events like the US-Africa Business Summit, is making Africa more open for business, not just to foreign firms and investors, but also to intra-African trade.
Moreover, Rishon Chimboza, Special Advisor on Africa at the Tony Blair Institute, noted the existence of many businesses across the continent outside of traditional sectors that are thriving. This suggests a promising future for Africa's economic development.
The summit also saw the Opaia Group and the US company KBR agree on a ten-year master plan to establish a second fertilizer manufacturing facility. KBR is providing project management consultancy for the construction of the Amufert plant. The second fertilizer plant will double the production capability of the Amufert plant, further solidifying Africa's position as a key player in the global food and economic security.
The African Growth and Opportunity Act (AGOA) offers substantial duty-free access to US markets, making it easier for African businesses to export their products to the US. This, along with the progress seen at the US-Africa Business Summit, indicates a bright future for US-Africa business relations.
Thousands of business and government leaders from both continents attended the summit, demonstrating a shared commitment to fostering economic growth and development in Africa. The US-Africa Business Summit serves as a platform for strengthening these relationships and driving forward Africa's economic potential.
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