[Reuters]The Biden administration last week announced a new push to expand business ties between US companies and Africa, with a focus on clean energy, health, agribusiness and transportation infrastructure on the continent. US industry executives welcomed the interest, but said dollar flows will lag until the administration wraps up its lengthy review of Trump administration trade measures and sets a clear policy on investments in liquefied natural gas. The administration’s goal was to “reinvigorate Prosper Africa as the centrepiece of US economic and commercial engagement with Africa,” she said. US business executives warn the United States is in danger of being overtaken by China and Europe, which are already investing and signing trade agreements across the continent. “We can’t wait another year to devise an Africa policy; we need to be bold in our thinking,” said Scott Eisner, president of the US Chamber of Commerce’s US-Africa Business Centre.

Source: Standard Digital August 02, 2021 21:00 UTC