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Obama woos Africa with billions of dollars in deals

US President Barack Obama speaks during the US - Africa Business Forum on the sidelines of the US - Africa Leaders Summit in Washington, August 5, 2014President Barack Obama announced billions of dollars in investment for Africa on Tuesday, as the United States challenges China and Europe’s leading roles in the continent’s economic emergence. “As president, I made it clear that the United States is determined to be a partner in Africa’s success, a good partner, an equal partner and a partner for the long term,” he declared. We recognize Africa for its greatest resource, which is its people and its talent and their potential,” he told 45 heads of state and government. This includes a new $12 billion for Africa’s crucial power sector — including contributions from Sweden and the World Bank — an industry Washington has particularly focused on for US participation.

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