Launched by U.S. Acting Secretary of Commerce Rebecca Blank in November 2012 in Johannesburg, South Africa, the Doing Business in Africa campaign is part of the Obama Administration’s government-wide strategy to help U.S. businesses take advantage of the many export and investment opportunities in Sub-Saharan Africa.
The Doing Business in Africa campaign harnesses federal trade promotion and financing capabilities to help U.S. businesses both identify and seize upon trade and investment opportunities, furthering the United States’ commercial relationship with Africa.
The Minority Business Development Agency is poised to play an important role in the Doing Business in Africa campaign by promoting more U.S. trade with Africa through increased financing for and engagement with important stakeholders, including the African Diaspora community.
MBDA’s Africa Agenda
MBDA is particularly focused on assisting firms with access to markets on the continent of Africa because of their rapidly growing economies and increased opportunities for American firms. According to The Economist, six of the world’s ten fastest growing economies between 2001 and 2010 were in Africa: Angola (1), Nigeria (4), Ethiopia (5), Chad (7), Mozambique (8), Rwanda (10). It is projected that by 2050, Africa’s population will reach 3 billion people. This is an exploding consumer market. MBDA is ready to assist businesses in accessing these markets and taking advantage of these opportunities.
MBDA will work with businesses and public sector partners through its network of Business Centers to help minority-owned firms broaden their platforms and launch export operations.