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Dlamini- Zuma wants West to increase its investment in Africa

24 September 2013, 16:30

 Johannesburg - The AU Commission chairperson, Dr Nkosazana Dlamini-Zuma, has called on West countries to increase their investment in Africa to boost economic development.

Dlamini- Zuma, in a statement on Tuesday, called on the countries to spread out their support to Africa through peace and security, promotion of opportunities for trade and investment as well as sustainable development.

The statement called on the U.S. to " agree on a framework that will hopefully lead to a memorandum of understanding being signed between the two''.

The News Agency of Nigeria (NAN) reports that Dlamini- Zuma’s call is anchored on the returns from U.S.’s partnership with sub-Saharan Africa, known as the Africa Growth and Opportunity Act (AGOA), which was signed into law by then U.S. President Bill Clinton in 2000.

Clinton’s successor, George Bush, extended the programme from the initial eight years to September 2015.

The statement said Dlamini-Zuma’s call was already receiving support, with Democratic Sen. Christopher Coons, who is also the chairperson of the Senate Sub-Committee on African Affairs, saying that support for Africa was one of the few areas of consensus between Democrats and Republicans.

Currently, the U.S. investment in Africa is reported to be below one per cent of the total U.S. investment worldwide.

AGOA exports from Sub-Saharan Africa are said to have increased from 8.15 billion dollars in 2001 to 34.9 billion dollars in 2012, an increase of about 32.8 per cent.



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