American firms pledge $14bn in investments in Africa
August 6 , 2014
American companies have promised to invest $14bn in Africa, President Barack Obama announced during a summit of African leaders in the US.
More than 40 heads of state are attending the three-day event, which is being seen as an attempt by the US to boost ties with Africa at a time when China is making steady inroads into the vast continent.
The deals include a $5bn partnership to bolster infrastructure in Africa’s poverty-stricken sub-Saharan region.