U.S. President Barack Obama has hosted a business forum as part of the U.S.-African Leaders' Summit. The bottom line is about business and investment.
The president announced that American businesses are investing fourteen billion dollars in everything from infrastructure to information technology betting on the future of Africa’s growing economies.
The forum is the largest-ever event between an American leader and African heads of state. Brian Moore has the story from Washington.
"We have to do better - much better. I want Africans buying more American products, I want Americans buying more African products. I know you do, too, and that’s what you’re doing here today." Said Barack Obama, U.S. President.
"The private sector has invested more than a hundred billion dollars - so that 650-million africans now have a cell phone." Said Strive Masiyiwa, Econet Wireless founder and Chairman.
"Very proud to announce that we’re increasing that $12 billion to $17 billion - now." Said Muhtar Kent, Coca-cola Chair and CEO.
"I believe Africa will be the place where things will leap frog - and solutions will be created in Africa that will be brought to other parts of the world." Said Virginia Rometty, IBM Chairman, President and CEO.
"If you don’t have rule of law or security - that you do - you can’t risk capital." Said Stephen Schwarzman, Blackstone Chairman, CEO and co-founder.