African leaders to US: Replace aid with investments, cut trade tariffs

African leaders have urged the United States (US) to recalibrate its relationship with the continent by focusing on transformative investment, lowering trade barriers, and boosting infrastructure and human capital development.

The leaders spoke at the ongoing 17th edition of the US–Africa Business summit organised by the Corporate Council on Africa (CCA) in Luanda, Angola.

They emphasised the need to move beyond traditional aid to long-term private sector-driven partnerships that unlock Africa’s economic potential.

Speaking at the summit, Angolan President João Lourenço urged American companies to seize growing opportunities on the continent by building long-term, mutually beneficial partnerships.

“New dynamics show us it is time to replace the logic of aid with the logic of ambition and private investment,” Lourenço said.

“It is time to see Africa as a credible partner – rich in potential, in need of financial capital and know-how, and eager to join forces for mutual benefit.”

Describing Africa as a growth frontier full of promise, Lourenço said the continent is no longer a passive recipient of foreign assistance but a region ready to innovate and compete.

Echoing the president’s sentiment, Akinwumi Adesina, the outgoing president of the African Development Bank Group (AfDB), called on the US to lower its tariffs on African exports.

“We should review the high tariffs on African countries,” Adesina said.

“What is needed is more trade between Africa and the US, not less.”

‘NEED FOR A UNIFIED AFRICAN MARKET’

On his part, John Olajide, chairman of the Corporate Council on Africa (CCA), also made a strong case for a stroner US-Africa ties, highlighting the mutual benefits of a strategic alliance.

Olajide also called for economic integration and infrastructural developments among African nations.

“I believe that a strong business relationship between the U.S. and Africa will positively transform the economy of the nations involved, considering what both parties would bring to the table,” he said.

“Africa has rich natural resources, like critical minerals for green technologies, and this can be leveraged for industrialisation and job creation.”

He, however, said Africa must first remove its internal barriers to integration.

Citing difficulties participants faced in travelling to Angola from other African countries, Olajide called for a harmonised visa regime across the continent.

“We cannot be sloganeering economic integration in Africa when we don’t have easy access to one another,” he said.

“Easy access to African countries by Africans holds immense potential for boosting intra-African trade and economic growth.”

Speaking on behalf of the US, Massad Boulos, a senior advisor for Africa, said Donald Trump’s administration sees the summit as a strategic platform to reassert American engagement on the continent.

Boulos said the US government is shifting focus from foreign aid to technology-driven investment and infrastructure partnerships, especially in countries with stable political environments.

“President Donald Trump is committed to Africa, especially to nations that are crisis-free,” he said.

The US representative said a peaceful African environment would unlock opportunities and investment in the region.