African leaders at the U.S.-Africa Business Summit in Luanda have called for an end to aid-based relations with the U.S., urging a stronger focus on private investment and transformative partnerships.
Speaking at the 17th U.S.-Africa Business Summit in Angola’s capital Luanda, African leaders stressed the need to move beyond traditional aid and embrace a model based on ambition, innovation, and private sector-led growth.
Angolan President Joao Lourenco, who also chairs the African Union, said Africa is “no longer a passive recipient of foreign assistance but a dynamic growth frontier ripe for innovation.”
“New dynamics show us it is time to replace the logic of aid with the logic of ambition and private investment,” Lourenco told delegates.
He noted that several regions across the continent have seen major economic transformation in recent years. However, he added, access to fair and favourable financing from global institutions such the World Bank and the International Monetary Fund (IMF) remains essential for long-term development.
Akinwumi Adesina, president of the African Development Bank, echoed the call, declaring that “the era of aid dependency is over, and the time for transformative partnerships has arrived.”
Held under the theme “Paths to prosperity: a shared vision for U.S.-Africa partnership,” the summit has gathered 2,700 participants from both sides, aiming to deepen economic ties and promote private investment opportunities.
The Corporate Council on Africa, which co-organises the summit, has led efforts since 1993 to strengthen U.S.-Africa business relations.
The EU Commission signed five major agreements with Africa, securing over €1.2 billion ($1.38 billion) in investments and guarantees, EU President Ursula von der Leyen announced Friday.
The US State Department has advised its citizens in the Middle East and North Africa to exercise "increased caution." The recommendation is due to rising regional tensions, the State Department said.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The Chinese government has announced it will grant zero-tariff treatment for 100% of tariff lines to 53 African countries with which it has diplomatic relations.
Bamako's La Tour d'Afrique is a powerful monument to a united and independent Africa. A symbol of pan-African solidarity and hope, the tower houses a museum celebrating the continent's heritage and its peoples' resilience.
U.S. and Iranian officials have engaged in dialogue amid recent regional tensions, with Washington expressing cautious optimism about the outcome.
New research highlights that naturally-regenerating forests, often overlooked in climate policies, could remove carbon up to eight times faster than newly planted trees.
Azerbaijan has been elected Chair of the UN Environment Programme’s key decision-making body, marking a first for the country and strengthening its role in global environmental policy.
The UK will buy 12 F-35A jets capable of carrying tactical nuclear weapons.
Airlines have cancelled and rerouted flights across the Middle East as the Israel-Iran conflict escalates.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
A landslide in northwest Colombia has left multiple people dead and injured, with rescue efforts still underway.
U.S. and Iranian officials have engaged in dialogue amid recent regional tensions, with Washington expressing cautious optimism about the outcome.
The UK will buy 12 F-35A jets capable of carrying tactical nuclear weapons.
Airlines have cancelled and rerouted flights across the Middle East as the Israel-Iran conflict escalates.
Trump says China can continue buying Iranian oil after Israel-Iran ceasefire, hinting at softer sanctions enforcement.
U.S. and Iranian officials have engaged in dialogue amid recent regional tensions, with Washington expressing cautious optimism about the outcome.
New research highlights that naturally-regenerating forests, often overlooked in climate policies, could remove carbon up to eight times faster than newly planted trees.
Azerbaijan has been elected Chair of the UN Environment Programme’s key decision-making body, marking a first for the country and strengthening its role in global environmental policy.
The UK will buy 12 F-35A jets capable of carrying tactical nuclear weapons.
Airlines have cancelled and rerouted flights across the Middle East as the Israel-Iran conflict escalates.
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