The African Union and the Corporate Council on Africa Pledge to Strengthen Business Ties between US and Africa / Memorandum of Understanding signed by the parties today paves the way for private sector development on the continent
KAMPALA, Uganda, July 27, 2010/African Press Organization (APO)/ — On the margins of the African Union Summit today, the Chairperson of the African Union Commission (AUC), Dr Jean Ping and the Corporate Council on Africa (CCA) Board Chairman, Michael Dignam, signed a memorandum of Understanding (MOU) today to strengthen the longstanding partnership between the two organizations.
The Chairperson remarked that this MOU provides a platform and structure for
enhanced cooperation and collaboration on issues of mutual interest. The agreement
complements ongoing efforts of the AUC to improve the business climate on the
continent by promoting new opportunities to American investors. Activities will first
focus on infrastructure, financing, agri‐business and healthcare, though other areas will
also be explored. Additionally, CCA will assist the AUC in the creation of a new Pan
African Chamber of Commerce.
The signing today marks the culmination of a series of consultations that began earlier
this year. In April, CCA hosted the leadership of the AUC in Washington, D.C. followed
by a CCA visit to Addis Ababa, Ethiopia. In these discussions, trade policies of mutual
benefit for both the US and its African partners featured prominently. Today, CCA
becomes the first American business organization to take steps towards realizing this
vision through formal engagement with the AUC.
Also present at the signing ceremony were CCA Board Member Jeff Hoffman and CCA
East Africa Director and new Liaison Officer to the African Union, Asfaw Alemayehu, as
well as U.S. Ambassador to the AU Michael Battle. Mr. Dignam and Mr.
Hoffman travelled to Kampala for the sole purpose of signing the MOU and to underline
its importance to CCA with the leadership of the AUC. The Chairperson was
accompanied by his Chief of Staff and Spokesperson.
Established in 1993, CCA is at the forefront of facilitating the commercial relationship
between the United States and the African continent. CCA programs are designed to
bring together potential business partners and raise Africa’s investment profile in the US
by developing critical contacts and business relationships and providing a forum for the
exchange of information and ideas.
SOURCE
African Union Commission (AUC)
