US-Africa Business Summit 2007

The Corporate Council on Africa's sixth US-Africa Business Summit, taking place in Cape Town in November, will see some of the world's top business leaders discussing trade and investment opportunities in Africa, best practices, and how best to grow business in ways that will promote sustainable growth on the continent.

More than 1 500 participants are expected to attend the summit - titled "Africa: entering the door to opportunities" - which takes place at the Cape Town International Convention Centre from 14 to 16 November.

Hosted every two years, this is the Corporate Council on Africa's sixth summit, but the first ever to be held in Africa.

First impressions important
Corporate Council on Africa president Stephen Hayes, visiting South Africa ahead of the conference, told Business Day that SA had been chosen as host because "we were assured [that] American investors coming to the continent for the first time would be impressed by what they would see.

"SA has great infrastructure, and that could help them decide to use the country as a springboard for a push into the continent."

Speaking to Business Report, Hayes said Africa remained an unknown quantity for potential US investors because media reports on the continent were overwhelmingly negative.

Until more US executives were exposed to Africa, he said, the US would continue to miss out on opportunities all over the continent.

Heads of state, CEOs
South African President Thabo Mbeki will deliver the keynote address at the summit's opening gala dinner on 14 November.

On the following day, Liberian President Ellen Johnson-Sirleaf, along with two other African heads of state and three CEOs from top US companies, will form the panel at an opening plenary session entitled "What does it really take for US businesses to invest in Africa?"

The summit will feature business trade missions led by a diverse pool of US organisations to nearly 30 African countries.

It will include sector-specific plenary sessions, workshops, business networking opportunities, and a two-day trade expo where businesses will showcase their products, services and capabilities to potential buyers and customers throughout Africa.

Summit sponsors include the Development Bank of Southern Africa, US firms Chevron, Merck, ExxonMobil, Boeing, 3M, Cargill, General Motors, Chrysler, Hewlett-Packard, The Coca-Cola Company, Lazare Kaplan International, and media outlets New African, African Business, Africa Investor, Corporate Africa, and Institutional Investor. In an unprecedented offering, Summit delegates will have an opportunity to explore business prospects in an additional African country, immediately following the Summit in Cape Town. Appropriately the Summit .

SAinfo reporter