Obama says U.S. business will invest billions in Africa

August 5, 2014 4:07 PM

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Obama says U.S. business will invest billions in Africa

U.S. businesses have committed to invest more than $14 billion in Africa's construction, clean energy, banking and information technology sectors, President Obama will announce Tuesday, as part of a plan to boost strengthen trade and financial ties and boost America's role there before it falls too far behind Europe and China.

Nearly 50 African heads of state, more than 300 government officials and representatives from more than 90 U.S. and African companies are gathered in Washington this week for the U.S.-Africa Leaders Summit. The business forum Tuesday gives African leaders and American CEOs the opportunity to discuss...

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