African leaders are calling for a bold shift in U.S.–Africa relations, urging the United States to review tariffs on African exports and pursue transformative, investment-driven partnerships.
At the U.S.-Africa Business Summit in Luanda on Monday, Angolan President João Lourenço declared, “It is time to replace the logic of aid with the logic of investment and trade,” according to the African Development Bank (AfDB).
The summit brought together more than 2,000 delegates, including heads of state, ministers, business executives, and policymakers, with a strong message: Africa is ready to move from dependency to opportunity, and it is time for the U.S. to respond with strategic investment.
Lourenço encouraged U.S. companies to go beyond traditional sectors like oil and minerals and explore opportunities in automotive manufacturing, shipbuilding, steel, cement production, and tourism.
African Union Commission Chairperson Mahmoud Ali Youssouf echoed the sentiment, saying, “We’re not seeking aid, but building co-created solutions.”
He called for the removal of punitive tariffs and visa restrictions, emphasizing that Africa’s 1.3 billion people and vast resources represent one of the world’s greatest untapped markets.
“This should not just be a summit, but a call to action. Together, let’s walk the pathways to prosperity, with unity, purpose, and Agenda 2063 as our guide,” he said.
AfDB President Dr. Akinwumi Adesina was equally direct: “We should review the high tariffs on African countries. What is needed is more trade between Africa and the U.S., not less.”
He highlighted the importance of building strong regional value chains, citing the African Continental Free Trade Area (AfCFTA) as key to reducing fragmentation and accelerating industrial growth.
“The undertaking of the AfCFTA is an ambitious one, It has to be ambitious,” said AfCFTA Secretary General Wamkele Mene.
Adesina pointed to the Lobito Corridor as a model of strategic investment already underway.
“That is why the African Development Bank is a key strategic partner with the U.S., Angola, and Zambia on the development of the Lobito corridor,” he said.
The Bank’s African Development Fund will provide $500 million for the project, while an additional $1 billion will be invested over five years to support agriculture, infrastructure, and energy development along the corridor.
He urged U.S. investors to look beyond outdated narratives: “Act on the data, not perceptions. Think Africa. Think opportunities. Think competition. From the U.S. International Development Finance Corporation to the Export-Import Bank of the United States, as well as institutional investors and capital allocations, invest in Africa. Let’s make America and Africa great again.”
Don’t Miss This: AfDB to Launch Africa Carbon Support Facility to Expand Climate Finance Through Carbon Markets
U.S. officials acknowledged the growing need to deepen commercial ties.
Senior State Department Bureau Official Troy Fitrell said, “There are business leaders in the U.S. who need to understand the opportunities that lie in doing business with Africa. Our mission going forward will be to find them, and bring them in.”
The summit also honored Dr. Adesina with the Corporate Council on Africa’s Distinguished Economic Leadership Award.
Council Deputy Chairman Jean Raymond Boulle praised his impact in transforming the Bank into a world-class institution and improving the lives of millions across the continent through initiatives aligned with the AfDB’s “High 5” priorities.
At a side event hosted by Africa50, Adesina emphasized the urgency of local currency financing to address forex volatility and de-risk infrastructure investments.
The event, themed “Unlocking Capital for Africa’s Infrastructure through Innovative Finance,” featured Africa50 CEO Alain Ebobissé, Ethiopia Investment Holdings Director General Brook Taye, and Fundo Soberano de Angola Chairman Armando Manuel.
CNN’s Richard Quest moderated the high-level panel.
Ebobissé described how asset recycling, a model that monetizes public infrastructure, can unlock capital and improve asset management while attracting long-term institutional investors like pension funds.
“Instead of just owning a bridge, you receive cash to reinvest. You also improve efficiency by engaging first-class operators,” he explained.
Adesina noted that the AfDB has invested over $55 billion in infrastructure over the past decade, making it the largest financier of infrastructure in Africa.
Through Africa50, more than $8 billion in projects have been supported to date, though he stressed the need for greater private sector participation.
Despite representing less than 1% of global green bond issuance, Adesina said Africa is well positioned to attract a substantial share of the $2.9 trillion global green bond market.
The AfDB’s Alliance for Green Infrastructure in Africa (AGIA) aims to mobilize $500 million for project development and $10 billion for green infrastructure.
Africa50 will serve as General Partner for the AGIA-Project Development Fund, alongside G7-backed Limited Partners.
To further support investor confidence, the AfDB is establishing the Africa Risk Mitigation Agency, a unified platform to consolidate the Bank’s guarantee instruments for political, climate, and refinancing risks.
Highlighting a successful example of asset recycling, Adesina cited the Senegambia Bridge, which was financed by the AfDB with $104 million and later returned to the Gambian government through Africa50’s investment recovery process.
“Following this, several asset recycling initiatives are being proposed for many infrastructure projects financed for governments by the African Development Bank Group,” he said.
With the participation of seven African Heads of State, several Prime Ministers, and regional leaders, the summit ended with a clear mandate: Africa is ready for deeper economic ties, and the United States must shift from aid to bold, long-term investment partnerships, starting now.
Don’t Miss This: US Clarifies Visa Review Is Not a Travel Ban Amid Rising Concerns in Nigeria
Image Credit: African Development Bank Group
