Obama to unveil $14bn in US corporate investments in Africa

American companies pledged new investment in Africa today as part of $14 billion (€10.4 billion) in construction, clean energy, banking and information technology projects to be unveiled by US president Barack Obama at an event showcasing US economic interest in the fast-growing region.

Business leaders told the US-Africa Business Forum they wanted to seize opportunities in the region, home to six of the world’s 10 fastest-growing economies, although some said they may have been late to the party.

"We gave it to the Europeans first and to the Chinese later but today it's wide open for us," said General Electric chief executive Jeff Immelt, who on yesterday announced a $2 billion investment in infrastructure and worker skills.

– (Reuters)