News / Africa

Business Ties at Forefront of Obama Visit to Tanzania

U.S. President Barack Obama and first lady Michelle Obama wave as they depart Waterkloof Air Base for a flight to Cape Town, June 30, 2013, in Centurion, South Africa.
U.S. President Barack Obama and first lady Michelle Obama wave as they depart Waterkloof Air Base for a flight to Cape Town, June 30, 2013, in Centurion, South Africa.
Gabe Joselow
U.S. President Barack Obama will continue to lobby for stronger business ties between Africa and the United States when he heads Monday to Tanzania, the last stop on his three-nation tour of the continent. 

President Obama is due to participate in a business roundtable Monday in Dar es Salaam to hear from CEOs and business leaders from Africa and the United States.
The White House expects representatives from U.S. companies Coca-Cola, General Electric and Microsoft to attend as well as Kenya’s Equity Bank and Zimbabwe’s Econet telecommunications firm, among others.

African Development Bank president Donald Kaberuka will represent the financial institution at the roundtable.

He told VOA the bank applauded the U.S. president’s efforts to encourage more private American investment in Africa.

“I think this is a very good beginning because for far too long the rich world interacted with Africa through the prism of foreign aid: how it can help Africa, how it can do things for Africa.  I think this kind of conversation that begins with, ‘Wait a minute, what can we do together?  What are the opportunities, what are the obstacles, how can we together go around them is something which I think is very important at this time,” said Kaberuka.

The African Development Bank is partnering with the United States on a new presidential initiative to improve Africa’s electric power capacity and networks.

The plan, called “Power Africa,” is worth $8 billion during the next five years, according to the African Development Bank, and focuses on six countries: Tanzania, Ethiopia, Kenya, Ghana, Nigeria and Liberia.

Kaberuka said this kind of project could help African economies diversify and shake a reliance on natural resources.

“If we can resolve the power problem, this will make industry happen there, that is what will add value to what we produce, instead of simply exporting oil and gas,” he said.

Before the business event, President Obama is scheduled to hold bilateral talks with Tanzanian President Jakaya Kikwete.

Tanzania is a major recipient of U.S. aid, much of it in the form of a $700 million Millennium Challenge Corporation compact for improving infrastructure in the country, the largest amount ever awarded by the agency.

Meanwhile, a public-opinion survey released Friday from the U.S.-based Gallup poll shows U.S. approval ratings have declined in the countries Obama is visiting on his tour of Africa. 

According to the survey, 70 percent of Tanzanians approve of U.S. leadership, which is down from 89 percent approval in 2009, when Obama first took office.

You May Like

Photogallery Pistorius Sentenced, Taken to Prison

Pistorius, convicted of culpable homicide in shooting death of girlfriend Reeva Steenkamp, will likely serve about 10 months of five-year sentence, before completing it under house arrest More

UN to Aid Central Africa in Polio Vaccinations

Synchronized vaccinations will be conducted after Cameroon reports a fifth case of the wild polio virus in its territory More

WHO: Ebola Vaccine May Be in Use by Jan.

WHO assistant director Dr. Marie Paule Kieny says clinical trials of Ebola vaccines are underway or planned in Europe, US and Africa More

This forum has been closed.
Comment Sorting
Comments
     
by: Gadema Quoquoi from: New York City
June 30, 2013 2:09 PM
President Obama's Africa Visit can benefit both Africa and American Investors/firms. Africa is the richest Continent in Natural Resources. It already has over 320 middle class. Increased American nvestments now in Africa, means there will be more middle class, increasing the Africans' buying power.

Gadema Quoquoi
President & CEO
COMPULINE INTERNATIONAL, INC.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
After Decades of Pressure, Luxembourg Drops Bank Secrecy Rulesi
X
October 21, 2014 12:20 AM
European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.
Video

Video Young Nairobi Tech Innovator on 'Track' in Security Business

A 24-year-old technology innovator in Nairobi has invented a tracking device that monitors and secures cars. He has also come up with what he claims is the most robust audio-visual surveillance system yet. As Lenny Ruvaga reports from the Kenyan capital, his innovations are offering alternative security solutions.
Video

Video Latinas Converting to Islam for Identity, Structure

Latinos are one of the fastest growing groups in the Muslim religion. According to the Pew Research Center, about 6 percent of American Muslims are Latino. And a little more than half of new converts are female. VOA’s Carolyn Presutti travelled to Miami, Florida -- where two out of every three residents is Hispanic -- to learn more.
Video

Video Exclusive: American Joins Kurds' Anti-IS Fight

The United States and other Western nations have expressed alarm about their citizens joining Islamic State forces in Syria and Iraq. In a rare counterpoint to the phenomenon, an American has taken up arms with the militants' Syrian Kurdish opponents. Elizabeth Arrott has more in this exclusive profile by VOA Kurdish reporter Zana Omer in Ras al Ayn, Syria.
Video

Video South Korea Confronts Violence Within Military Ranks

Every able-bodied South Korean male between 18 and 35 must serve for 21 to 36 months in the country’s armed forces, depending upon the specific branch. For many, service is a rite of passage to manhood. But there are growing concerns that bullying and violence come along with the tradition. Reporter Jason Strother has more from Seoul.
Video

Video North Carolina Emerges as Key Election Battleground

U.S. congressional midterm elections will be held on November 4th and most political analysts give Republicans an excellent chance to win a majority in the U.S. Senate, which Democrats now control. So what are the issues driving voters in this congressional election year? VOA National Correspondent Jim Malone traveled to North Carolina, one of the most politically competitive states in the country, to find out.
Video

Video Comanche People Maintain Pride in Their Heritage

The Comanche (Indian nation) once were called the “Lords of the Plains,” with an empire that included half the land area of current day Texas, large parts of Oklahoma, New Mexico, Kansas and Colorado.The fierceness and battle prowess of these warriors on horseback delayed the settlement of most of West Texas for four decades. VOA’s Greg Flakus reports from Lawton, Oklahoma, that while their warrior days are over, the 15,000 members of the Comanche Nation remain a proud people.
Video

Video Turkey Campus Attacks Raise Islamic Radicalization Fears

Concerns are growing in Turkey of Islamic radicalization at some universities, after clashes between supporters of the jihadist group Islamic State (IS) or ISIS, and those opposed to the extremists. Pro-jihadist literature is on sale openly on the streets of Istanbul. Critics accuse the government of turning a blind eye to radicalism at home, while Kurds accuse the president of supporting IS - a charge strongly denied. Henry Ridgwell reports from London.

All About America

AppleAndroid