Addis Ababa, June 24, 2025 (FMC) — President of the African Development Bank (AfDB), Akinwumi Adesina called for the USA to increase its investment in Africa.
The U.S.-Africa Business Summit is underway in Luanda, Angola’s capital. Organized by the Corporate Council on Africa (CCA) in collaboration with the Angolan government, the U.S. – Africa summit will cover opportunities for expanding U.S.-Africa trade, investment, and business relations.
African presidents, heads of state, ministers, and senior USA and African government officials and business leaders are attending the summit.
A high-level Ethiopian delegation led by President Taye Atske Selassie is also in Luanda to participate at the summit.
Addressing the Summit, President of the African Development Bank (AfDB), Akinwumi Adesina urged USA to increase its investment in Africa as the continent hold immense opportunities.
Adesina called on investors to come invest in Africa, saying, “Smart investors should pay attention to Africa.”
He underscored that Africa has abundant natural resources, such as uncultivated arable land and rare minerals, and that it is also home to some of the fastest-growing countries.
Therefore, he calls on companies in the USA particular to expand their business engagement in Africa, as the rate of return on investment in Africa could be between 15 and 20 percent.
Moreover, AfDB President argued that the risk premium is also very low in Africa, based on Moody’s recent data, and urged companies to make decisions based on real data rather than perception.
While lauding the shift in U.S.-Africa relations from an aid-heavy model to one of commercial diplomacy, the president urged both sides to forge a strategic partnership that prioritizes capital investment in infrastructure, agriculture, mineral industries, and the development of digital infrastructure and capital markets.
At the U.S.-Africa Business Summit, the Corporate Council on Africa (CCA) awarded Dr. Akinwumi Adesina, president of the African Development Ban, the 2025 Distinguished Economic Leader Award.
The award was given to him in recognition of his transformative leadership in advancing African development and improving the lives of millions of Africans.
Adesina expressed his appreciation for the award and reaffirmed his commitment to further expanding his engagement to advance Africa’s development endeavors, POA reported.