US-Africa Business Summit sets stage for new deal pipeline

Global leaders and investors have commenced the sixteenth edition of the US-Africa Business Summit in Dallas, USA, with a focus on fostering new partnerships and investments to drive economic development across the African continent. CNBC Africa had the opportunity to interview Sylvia Megret, President and CEO of ACDI/VOCA, who highlighted the importance of agriculture, agribusiness, and sustainable economic growth in Africa. Megret emphasized the critical role of collaboration between governments, donors, development organizations, and local actors in addressing food security and supporting smallholder farmers and businesses. A key takeaway from the discussion was the need to move away from aid towards investments to ensure long-term sustainability in the region's food systems. AV Ventures, an affiliate of ACDI/VOCA, is actively seeking commercial opportunities that benefit both businesses and local communities across countries such as Burkina Faso, Guinea, Ghana, Ethiopia, Kenya, Mozambique, Tanzania, Uganda, and Zambia, with over $35 million in assets under management. The organization's partnership with companies like SolarGen in Kenya has demonstrated the impact of sustainable investments in renewable energy and agriculture, benefiting over 1.5 million people and significantly reducing CO2 emissions. As the summit progresses, stakeholders are optimistic about forging new partnerships and agreements to drive economic growth and create bankable projects that attract investment and promote sustainable development in Africa. Meetings and discussions throughout the event are expected to result in promising collaborations and initiatives that will contribute to the region's socio-economic advancement.