Obama’s “Doing Business In Africa” Executive Order Creates Opportunities for Entrepreneurs to Connect With the Motherland

by | Feb 13, 2015 | Business | 0 comments

If you have ever thought about starting a business and wanted to focus on on the continent of Africa, then now is your chance. With the stroke of his pen, Obama initiated his executive order to add to the Doing Business In Africa (DBIA) Campaign he started in 2012.

The goal of the effort is for the US Government to strengthen commercial relationships with the continent of Africa. POTUS recognizes there are a wide range of opportunities for trade, investment and more across the continent. This puts entrepreneurs and businesses in a great position for expansion and creates job opportunities right here in the United States.

doing-business-in-africaThis effort went into effect last year at the U.S.-Africa Business Forum where President Obama announce his plan to invest $7 billion dollars in new financing to promote U.S. exports and investments in Africa under the DBIA Campaign. This is on top of other companies, institutions and nations commitment of another $26 billion dollars for similar efforts totally a whopping $33 billion dollars in opportunity.

The DBIA Campaign encourages U.S. commercial engagement in Africa by harnessing the resources of the U.S. government to assist businesses in identifying and seizing opportunities and to engage with members of the African Diaspora in the United States.  The DBIA Campaign, which was launched in November 2012, has four main objectives:

  • Connect American Businesses with African Partners
  • Support Existing and New American Investment in Africa
  • Expand Access for American Businesses to Finance Their Exports to Africa
  • Reduce Barriers to Trade and Investment in Africa

President Obama’s Executive Order (E.O.) is to promote broad-based economic growth in the United States and in Africa by encouraging U.S. companies to trade with and invest in Africa.

The E.O. creates a President’s Advisory Council on Doing Business in Africa under the direction of the Secretary of Commerce. The new Government resources to support the exports and investment in Africa will come from the following; Interagency Initiatives, U.S. Export-Import Bank, Millennium Challenge Corporation, Overseas Private Investment Corporation, U.S. Trade and Development Agency, U.S. Department of Agriculture, U.S. Department of State, U.S. Department of Commerce, U.S. Agency for International Development, U.S. Department of Transportation, U.S. Department of Energy, and the Office of the United States Trade Representative.

I know some of you may be skeptical with involving the government in your potential business dealings with the Motherland. However, the fact is there will be around $33 billion dollars thrown into this effort with or without you.

Isn’t it time for us to get off the sidelines and into the international game of business?

SOUND OFF: What do you think of POTUS Doing Business In Africa Campaign and his Executive Order?

Source WhiteHouse.gov

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