Who’s helping whom?
Just over a month ago, Hillary Clinton concluded in a speech at the AGOA Forum that “Africa offers the highest rate of return on foreign direct investment of any developing region in the world”.
A week later, President Obama (always a strong supporter of African economies) reiterated that he wishes to see an increase in trade with sub-Saharan Africa, a promise he had made during his 2009 visit to the continent.
The US administration is reaching out to entrepreneurs through exchange programmes and is actively trying to match US and African companies for business opportunities.
When President Obama announced a $3bn “aid” plan to boost African food security and farm productivity last week, I was delighted, but couldn’t help but wonder whether it is not Africa that is giving the US an opportunity to revive its flagging economy, and that the US is simply wise enough to grab it?