African heads of state, economic leaders, and key stakeholders convened in Angola’s capital this week to call for a transformative reset in U.S.-Africa relations. Their principal message was unequivocal: the time has come to transition from a paradigm of aid dependency to one of strategic investment and mutual trade partnerships.
Addressing the U.S.-Africa Business Summit before more than 2,000 delegates, Angolan President João Lourenço urged U.S. investors to move beyond extractive sectors and instead embrace long-term industrial investments. “It is time to replace the logic of aid with the logic of investment and trade,” he declared. President Lourenço identified sectors such as automotive manufacturing, steel, shipbuilding, and tourism as ripe for U.S. engagement.
African Union Commission Chairperson Mahamoud Ali Youssouf echoed this sentiment, emphasising the continent’s enormous untapped economic potential, with a population exceeding 1.3 billion and an abundance of natural resources. Youssouf called for the removal of punitive tariffs and visa restrictions that hinder deeper cooperation, and invoked the African Union’s Agenda 2063 as the framework for a co-created future of prosperity.
A powerful appeal was also made by Dr Akinwumi Adesina, President of the African Development Bank Group, who argued for an urgent reassessment of U.S. trade tariffs on African goods. “What is needed is more trade between Africa and the U.S., not less,” he asserted. Dr Adesina pointed to successful joint projects, such as the Lobito Corridor, a key strategic transport link connecting Angola to Zambia and the Democratic Republic of the Congo, as evidence of what sustained cooperation can achieve.
To support this corridor’s development, the African Development Fund will allocate $500 million, with an additional $1 billion earmarked by the Bank for complementary infrastructure, including agricultural value chains, roads, and energy systems. Dr Adesina used this example to urge investors to respond to real-world data rather than outdated perceptions: “Think Africa. Think opportunities. Think competition.”
The U.S. response acknowledged Africa’s mounting economic importance. Senior State Department official Troy Fitrell pledged to actively engage with American business leaders to highlight Africa’s expanding opportunities and shift perceptions from risk to reward.
The summit served as a platform not merely for rhetoric but for a recalibration of action. Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), underlined the importance of regional integration and trade liberalisation, calling the AfCFTA “an ambitious undertaking” essential for reducing fragmentation and spurring industrialisation.
In recognition of his leadership, Dr Adesina received the Distinguished Economic Leadership Award from the Corporate Council on Africa, highlighting the Bank’s transformative impact under his stewardship, having positively affected over 565 million lives through its “High 5s” development agenda.
Infrastructure development emerged as a cornerstone of Africa’s investment future. At a high-level event hosted by Africa50, a platform established by the African Development Bank to accelerate project delivery, discussions centred on innovative financing tools such as asset recycling. Africa50 CEO Alain Ebobissé explained how this model monetises existing infrastructure by transferring operational responsibility to private investors, thus unlocking liquidity and improving efficiency. A case in point is the successful recycling of the Senegambia Bridge in The Gambia, through which the government recouped its $104 million investment.
Dr Adesina reaffirmed the importance of scaling local financing in domestic currencies to mitigate exchange rate volatility and increase the bankability of large-scale infrastructure projects. This principle underpins the Alliance for Green Infrastructure in Africa (AGIA), which aims to mobilise $500 million for project preparation and $10 billion for green infrastructure investment. Africa50 serves as the General Partner of the AGIA-Project Development Fund, with Limited Partners including G7 members.
Despite infrastructure’s centrality, Africa remains a marginal player in green bond markets, accounting for less than 1% of global issuances. Dr Adesina cited this as a $2.9 trillion opportunity for both green development and climate resilience. To address risk constraints, the African Development Bank is establishing the Africa Risk Mitigation Agency, designed to consolidate guarantees and de-risk investments at scale, including equity, political, and climate risks.
Political commitment to this renewed partnership was evident, with seven African presidents and multiple prime ministers attending, including leaders from the Democratic Republic of the Congo, Central African Republic, Republic of the Congo, Ethiopia, Botswana, Namibia, Gabon, and Lesotho. Also in attendance were key officials from the Southern African Development Community and the Economic Community of Central African States.
As the summit concluded, Florie Liser, President of the Corporate Council on Africa, urged delegates to move beyond transactional engagements toward enduring partnerships that empower African development and U.S. economic expansion alike. “Beyond deals, let’s strive for lasting transformation,” she said.
With African infrastructure investment totalling over $55 billion over the past decade and platforms like Africa50 pioneering scalable solutions, the tone at the Luanda summit was one of pragmatism tempered with optimism. The call to action has been made clear: real partnerships, driven by data, mutual respect, and shared prosperity, are the pathway forward.
