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
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
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
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.