Zoom On 15th CCA U.S-Africa Business Summit With Florie Liser

By Ajong Mbapndah L

The Corporate Council On Africa’s U.S.-Africa Business Summit this year is the ideal opportunity to both advance and to check-in on the commitments made and initiatives launched at the Biden-Harris Administration’s U.S.-Africa Leaders’ Summit and Business Forum, says Florie Liser.  Fielding questions from PAV, Florie Liser who CEO of the CCA is, says the exchange will be rich when prominent U.S. and African government and private sector leaders meet at the 15^th U.S.-Africa Business Summit in Gaborone, Botswana from July 11-14.

In addition to host President Masisi, over six other heads of state or government have confirmed participation at the Summit which is also expected to host a high-level U.S. Government delegation that will include senior officials from key agencies responsible for supporting and promoting the U.S.-Africa economic relationships.

Botswana has been a great partner over the years and has been a leader in both political and economic governance, says Florie Liser. In the upcoming Summit the country will have a good platform to highlight the progress made using their mineral wealth to support value chains across sectors of the economy, including expanding opportunities in manufacturing, ICT, tourism, financial services and the broader services sector, Liser says.

Despite progress made over the years and the huge opportunities available, Africa still only represents 2% of U.S. trade, and it is a trend the CCA is working hard with key partners to change, Florie Liser says.

May we know how preparations are going for the upcoming US-Africa Business Summit in Botswana?

Florie Liser: With the strong support of President Masisi and involvement of his government, and the effort of the CCA Board of Directors who represent both American and African corporate CCA members, and our CCA team, preparations are well underway, and we expect a robust turnout.  Importantly, along with the White House and State House in Gaborone, we have a shared vision that CCA’s U.S.-Africa Business Summit this year is the ideal opportunity to both advance and to check-in on the commitments made and initiatives launched at the Biden-Harris Administration’s U.S.-Africa Leaders Summit and Business Forum this past December in Washington, DC.  CCA was a co-organizer of the Forum and looks forward to re-convening prominent U.S. and African government and private sector leaders at our 15^th U.S.-Africa Business Summit to be held in Gaborone, Botswana on July 11-14. There have been a lot of important developments across several major sectors on which our Summit’s various sessions and events will focus, and anticipate candid, productive discussions to advance U.S.-Africa trade, investment and commercial engagement, private sector-led economic growth and job creation benefiting the people of both the United States and of Africa.  Even at this early date we have confirmation from six African heads of state or government (seven including President Masisi), and we very well could have a few more by the time the Summit kicks off on July 11^th.  We also expect a high-level U.S. Government delegation that will include senior officials from key agencies responsible for supporting and promoting the U.S.-Africa economic relationship.  We have also seen tremendous interest from the private sector – many impressive corporate sponsors and more approaching us every week. What is most energizing to me is seeing the enthusiasm among both U.S. and African small and medium sized enterprises (SMEs). CCA is pleased to say that SMEs constitute more than half of our members, and we have seen many of them go on to achieve tremendous growth through engagements and opportunities offered at CCA’s past Summits. In terms of preparations, we are working closely with a Government of Botswana multi-Ministerial team as well as Batswana service providers who, together, with my team, are ensuring that we will have a very successful Summit.

Of the 54 countries in Africa, what were some of the reasons that facilitated the choice of Botswana as the choice of the 2023 US-Africa Business Summit?

Florie Liser: CCA is blessed to have so many great partners to work with, and we are thrilled to be holding the 15^th U.S.-Africa Business Summit in Gaborone.  Botswana has been a great partner over the years and has been a leader in both political and economic governance. President Masisi personally led the Botswana delegation to our Summit in Morocco last year, and he and his Cabinet are remarkably committed to advancing private sector growth through trade and investment in several key areas. My sense is that Botswana is keen to highlight the progress they have made using their mineral wealth to support value chains across sectors of the economy, including expanding opportunities in manufacturing, ICT, tourism, financial services and the broader services sector. President Masisi last year in Marrakech made a strong pitch for why he and his country should be the national host for CCA’s next Summit on the continent, and in the end, I and the CCA Board of Directors decided that hosting in a leading country in Southern Africa after last year’s Summit in Morocco offered our members and other stakeholders exposure to the diverse business opportunities and latest developments across the continent. And of course, the theme of this year’s Summit – “Enhancing Africa’s Value in Global Value Chains” highlights a strategic goal of African governments and the African Union for Africa to be a bigger player in regional and global value chains and take advantage of some shifts to manufacturing in and sourcing from Africa because of the post-pandemic need to re-align supply chains. This goal and evolving trends are strongly supported by CCA, and we look forward to advancing at the Summit.

Compared to previous CCA summits, what are some of the innovations that attendees should expect in Botswana?

Florie Liser: Every host and Summit has its own unique features – not only due to the unique culture and environment that each country offers, but also because we are of course living in a highly dynamic time, and the business environment is constantly changing.  We’re excited to hold this year’s Summit in a new conference and hotel facility, which reflects progress in Botswana’s strategy to be a destination of choice for major international events and conferences.  We’re also working on some exciting improvements on the conference app and some of the services we’ll be offering at the Summit.  And as for the shape and substance of the Summit proceedings, we are excited that we will have high-level dialogues on key sectors (mining, energy transition, manufacturing, ICT, health, agribusiness) that will include African heads of state and ministers, USG senior officials and CEOs and other private sector executives; as well as country-focused “Doing Business In…” sessions.  Attendees should also expect a plenary session providing a progress report on U.S.-Africa Leaders’ Summit commitments, sessions on the creative economy, the African sports industry, AGOA and future of the U.S.-Africa trade relationship, and women’s leadership, among others.

In terms of confirmed participation may we know some of the leading actors or companies that will be in Botswana for the CCA Summit?

Florie Liser: Besides African Heads of State (thus far from Botswana, Eswatini, Lesotho, Mozambique, Namibia, Zambia, and Zimbabwe) and Ministers and a high-level delegation from the United States as mentioned earlier, we are delighted that several dozen CEOs of high-profile companies have confirmed their attendance and an impressive number of registrations from small and medium-sized enterprises. I am particularly delighted to see an increase in the number of women-owned business executives confirming attendance and in many cases participation in our Summit sessions.  We’ll soon have more details about confirmed speakers, but I can tell you that the sessions will feature CEOs and senior executives from several notable U.S. and African banks and financial institutions, companies in the energy, mining, health, agriculture and ICT sectors, and a number of senior U.S. Government and other African government officials.

How will you sum up the current state of business ties between the USA and Africa?

Florie Liser: The current state of business ties between the U.S. and Africa is good, but it could be – needs to be – much stronger.  We’re seeing more and more American companies looking to expand existing operations into more African markets, while other American companies come to the continent for the first time.  Particularly after COVID, there is a broad recognition of the need to rethink global supply chains and how companies can produce for Africa’s vast continental market as progress is made in implementing the African Continental Free Trade Agreement (AfCFTA)- a gamechanger for Africa’s reginal trade as well as with its global partners, including the United States.    As companies are looking for more opportunities, they are increasingly aware of all the legal and regulatory actions African governments have made to enhance business conditions on the ground – though there is still much room for improvement, which we also hope to speak to.   There are also important initiatives to support the expansion of Africa’s automotive, pharmaceutical, ICT and manufacturing sectors.  While it’s great to see more American companies pursuing opportunities, Africa still only represents 2% of U.S. trade.  We need to be a lot more ambitious about developing this potential through initiatives such as the African Growth and Opportunity Act (AGOA), Prosper Africa and the work done under its umbrella by a number of U.S. government agencies like the Development Finance Corporation (DFC), the U.S.-Export-Import Bank, the Departments of State, Commerce, Agriculture and Energy, USAID and USTR to name a few. The goal should be to increase U.S.-Africa trade and investment tenfold.

Your leadership of the CCA now spans three administrations both Republican and Democrat, what is your take on how the Biden /Harris administration has fared in fostering stronger business ties with Africa?

Florie Liser: The Biden-Harris Administration has done a good job of elevating the prominence of Africa in America’s national security and its economic and business  strategies – making clear the geo-strategic importance of Africa to the U.S. as a critical partner in addressing some of the most pressing global issues such as fighting pandemics like COVID and preparing for future pandemics, managing climate change and energy transition, combatting terrorism and violence, enhancing good governance/rule of law, and promoting sustainable growth.  Holding the U.S.-Africa Leaders’ Summit and Business Forum last December in Washington was an important step in signaling Africa’s importance and advancing the U.S.-Africa relationship.  The fact that more than 40 African presidents and Heads of State attended the three-day event is a clear signal of the breadth and depth of the potential for the U.S. and Africa to have a much stronger, more strategic partnership.  I was pleased that CCA co-partnered with the USG and others to help organize the Business Forum at the Summit, during which there were private sector deals signed totaling $15.7 billion, in addition to the $55 billion in total U.S. government commitments to Africa which includes $15 billion in new two-way trade and investment commitments, deals and partnerships. It’s been good to see the Administration follow up on those announcements, including a steady pace of senior level visits to Africa, including by Vice President Harris and several Cabinet members already this year.  I am counting on them to keep up that pace, and to continue to deliver on the commitments made last December.  CCA’s U.S.-Africa Business Summit in Botswana will be a first major opportunity to have U.S. and African public and private sector leaders re-engage, get an update on progress on all of the Leaders’ Summit and Business Forum commitments, and to discuss the way forward in enhancing the U.S.-Africa economic and commercial relationship.

In terms of recommendations for actors in both the US and Africa, what needs to be done to broaden business ties?

Florie Liser: There is a lot that can be done.  The first priority is for Congress to renew the African Growth and Opportunity Act (AGOA) this year through 2035.  That would give companies and African countries the reassurance they need to plan new investments in manufacturing and other sectors that will help realize the potential from AfCFTA, while also deepening trade and investment ties between U.S. and African companies.  There is a golden opportunity for African countries to leverage AfCFTA implementation to both modernize and harmonize statutory and regulatory environments which could break down barriers to private sector investment and business activity. Beyond that, there is always scope for the U.S. Government to sharpen the tools it uses to promote trade and investment, reducing the time it takes to approve investment and export finance programs, while also working with companies to adapt approaches to support evolving opportunities in sectors like infrastructure finance, ICT and energy to name just a few sectors.  Most importantly, however, U.S. and African companies need more opportunities to connect, such as through the CCA U.S.-Africa Business Summit.

With keen competition from other global actors like China, Japan, Russia and others, how do you make the case for Africa to prioritize corporate ties with USA companies?

Florie Liser: While African governments and companies certainly have an ever-increasing range of potential partners, there is a tremendous advantage in dealing with the U.S. public and private sector. On the USG side, there are major benefits from the more than $9.5 billion in grants (not loans) the Millennium Challenge Corporation (MCC) has made to 24 African nations.  DFC, Eximbank, and USTDA are financing loans and supporting projects in key sectors important to Africa’s development.  And U.S. companies bring some of the best available products in the sectors that are most important in terms of driving economic growth.  They are transparent about what they offer and the terms of the deal, and they honor their commitments.  They also tend to focus on supporting their sales with training and after-sales services, looking to become long-term partners rather than one-off transactions.  They provide skills and technology transfer to their African partners. And, importantly, let me just say that unlike the companies from many other countries, U.S. firms seek partnerships in countries in which they work, and they seek to hire local nationals – not to import the bulk of their workers like some other countries do. Simply put, there are broader, longer-term benefits to partnering with the USG and to seeking expanded presence of American businesses in Africa.

For companies that may read this interview and develop interest in participating at the forum, any tips for them?

Florie Liser: We hope companies will get as excited as we are about the Summit and decide to come to Botswana and see for themselves.  They should register soon, however, to ensure they get a space, as we are likely to sell out. The Summit website is www.usafricabizsummit.com – sign up soon! Space is limited!

You have been to Botswana before, many of the participants will be going there for the first time, what can you share with them about that country?

Florie Liser: First time visitors are in for a treat.  There is a lot to see and do in Botswana, including excellent infrastructure, some truly spectacular wildlife and nature preserves, and great food.  The most remarkable feature, however, is the people themselves who we know will provide a very warm welcome in Gaborone.

*Culled From June Edition Of PAV Magazine