Angolan President Joao Lourenco called on US companies to expand their investments in Africa beyond traditional oil and mineral extraction to industries such as automobiles, shipbuilding, tourism, cement and steel.
“American companies operating in Angola are already benefiting from a favorable business climate,” he said on Monday at the opening of the US-Africa Business Summit in Luanda, the capital. “Now we want to see broader engagement.”
The event was held as US trade rival China seeks to extend its influence on the continent by offering to remove levies on imports from almost all African countries, while America threatens reciprocal tariffs after a 90-day pause ends on July 9. The US has also cut aid to the continent and banned travel from certain African nations.
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