by PEDRO AGOSTO
LUANDA – A US$170 million investment deal between Angola Telecom and the United States technology firm, Cybastion, is the highlight of the just-concluded US-Africa Business Summit.
Cybastion and Angola Telecom signed the investment deal to expand digital infrastructure and cyber security through Cybastion’s “Digital Fast Track” initiative, providing local training and modern infrastructure for Angola’s digital transformation.
More than 2 700 United States and African public and private sector leaders gathered for the 17th US-Africa Business Summit, hosted by the Corporate Council on Africa and the President of Angola.
Some 12 African heads of state attended, marking a record turnout.
Overall, the US-Africa Business summit yielded $2,5 billion in deals and commitments.
“The record turnout made clear that both U. and African leaders share a strong commitment to significantly expanding trade and investment,” the US Bureau of Africa Affairs stated.
“The US objective at the summit was to secure key deals and commitments for US companies and establish the conditions to boost US exports and investment in Africa — advancing mutual prosperity in line with the Trump Administration’s Commercial Diplomacy Strategy for Africa.”
The US believes the more than $2,5 billion in new deals and commitments between it and African partners announced in Angola reinforces America’s prioritisation of trade over aid in its approach to Africa.
– CAJ News
