Scene Setter Plenary: Pathways to Prosperity: A Shared Vision for U.S.-Africa Partnership
The Scene Setter Plenary at the 2025 U.S.-Africa Business Summit provided a dynamic and thought-provoking exploration of the African market’s economic potential, particularly as a growth frontier for U.S. exports. Moderated by Bloomberg’s Jennifer Zabasajja, the session featured distinguished panelists Juvelino Domingos, CFO of BAI; Admassu Tadesse, President and Group Managing Director of TDB Group; and Yvonne Ike, Managing Director and Head of Sub-Saharan Africa (Ex-RSA) at Bank of America. Together, they examined the critical elements needed to unlock Africa’s growth, emphasizing infrastructure finance, innovative asset recycling strategies, and the importance of diversifying investment sources beyond traditional partners. The panelists stressed that while Africa offers substantial opportunities for U.S. exports—especially in sectors like machinery and technology—realizing this potential depends on building stronger policy frameworks and improving regulatory environments that can effectively attract private capital. Speakers also addressed the structural challenges within the global financial system, calling for greater inclusion of African institutions in shaping international finance policies. “Africa should essentially attract private capital to unlock its assets,” one speaker noted, underscoring the need to move beyond reliance on public debt. Admassu Tadesse pointed out that “the truth is Africa’s development still needs a lot of debt,” while others emphasized asset recycling as a tool to relieve government fiscal pressure and spur infrastructure development. Yvonne Ike highlighted that “there’s a global $1.5 trillion capital commitment to galvanize investment globally, and Africa is still included in that,” urging stakeholders to position the continent competitively within global capital markets. The panel concluded with a call to action for enhanced collaboration between African and U.S. companies, deeper engagement of local financial institutions, and sustained investment in human capital and technology. Together, these efforts are essential to overcome financing barriers and to drive long-term, inclusive economic growth across the continent.
