Biden admin to unveil new push for US-Africa business ties | Business and Economy News
With China’s influence growing in Africa, the Biden administration is unveiling a new push to expand business ties between US firms and the continent.
The Biden administration on Tuesday will announce a new push to expand business ties between US companies and Africa, with a focus on building needed digital, health and physical infrastructure on the continent, a senior United States official said.
US industry executives welcome the interest but say dollar flows will lag until the Biden administration wraps up its lengthy review of Trump administration trade measures and sets a clear policy on investments in liquefied natural gas.
Dana Banks, senior director for Africa at the White House National Security Council, will kick off a US-Africa business summit, with a pledge to “re-imagine” and revive Prosper Africa, an initiative unveiled by the Trump administration in 2018.
President Joe Biden, who requested nearly $80m for the…