>> with south africa, part of africa it plays a role that other african countries play. some of the role that it can play, some of the countries cannot play precisely because of the sizes, because of the situations. we have been in every part of the continent as making our own contribution to peacemaking and peace keeping. we will continue to do so as long as there is trouble in the continent. >> sir, islamic extremism is now a significant issue across the african continent from boko haram in nigeria to al-shabaab in somalia and networks in between. to what extent, if any, has this issue affected south africa and how do you see the problem arriving in the next decade and what part will south africa play? >> anything that happens in the continent to some extent affects south africa. the issue of these extreme kind of activities have affected africa. we have not just looked at it as a country, but the continent in the a.u. has discussed this matter. part of the remedy i talked about earlier relates to these. that we have a quick reaction force to deal with these issues in

the world must be optimistic towards africa. africa is opportunity.his is the perception we wanted to share with you, a land of opportunity where growth could be shared. earlier on i was following the speech made by vice president biden. he said the american investment on the continent creates employment in the u.s., it benefits american growth. that is what he said. it is within this win-win partnership that we africans have come to meet our american brothers from which we were separated for so long, but we will talk about that later, the separation concept, the

we want to partner with africa to build the economies africa that needs to flourish. that's why last year while traveling throughout the continent i announced a bold initiative to help bring electricity to more than 20 million african homes and businesses. we have joined with governments, the development bank and the private sector. and i will tell you the response has exceeded our projections. it has been overwhelming. already, projects and negotiations are under way that when completed will put us nearly 80% of our way towards the goal. on top of the significant resources we've already commit i'm announcing that the united states will increase our pledge to $300 million a year for this effort. as of today, including an additional $12 million being announced, we've now mobilized a total of more than $26 billion to power africa. just since we announced it. [applause] so today we are raising the bar. we decided we are meeting our goal too easily so we've got to go up. so we're tripling our goal aiming to bring electricity to more than 60 million african homes and busin

in africa. if a few moments you'll hear about different approaches we can take to deepen africa's financial services sector to unlock access to capitol markets the fact is to expand growth and attract greater investment, africa will have to open markets provide access to governments, businesses and because of strong macro economic fundamentals and reforms in place, african countries and companies are expanding access to international capitol markets. africa attracted $50 billion in 2012. and to retain and build on this success africa will need to pursue further reforms as president obama said, governments more open and transparent respect rights and abide by the rules of law grow faster and draw more investments the challenge is head is to build robust and transparent capitol markets in financial sectsors. as everyone knows, financing is is critical building africa's infrastructure, fuelling the next wave of entrepreneurs and improving standard of living for families across the country. open cap

one of the things i said, the africa today or the africa of yesterday or the day before yesterday, africaas changed. the african economy is performing better today. six of the 10 fastest-growing economies are in africa. 2015, it is and projected that seven out of the 10 fastest-growing economies will be in africa. ?hy are we there because of sound economic policies. also, the pursuit of sound political policies. there is, democracy has taken root. is enshrined. there is stronger commitment now to fight corruption, drug trafficking, drug abuse. for humanore respect rights. there are fewer conflicts on the continent today. that does not mean, except of course there are a few hotspots. when you look at what is happening, conflict areas in africa. unfortunately, this is the good story which is not being told. >> i don't think that's true. i think there is some concern -- >> this is the perception. if there is a problem, i don't a is going toic get out of being perceived. africa is a continent. there are different countries. they are different in terms of culture, particular situation, and unt

there is leading to africa and in africa. i am such a strong believer that the greatest contribution we can all make is to develop our skills. [applause] >> thank you. you've had a very distinguished and productive experience investing in various different ways in africa. you have been a pioneering partner for which we are very grateful. you have done everything. you have been very

between africa and the u.s. i believe is very important and paramount to extend and a new ex-im banks. today, a lot of countries have what you call credit in terms of buying equipment. america is competitive because of the cheap energy you have. american equipment is competitive. label component in manufacturing is not much. american equipment is competitive. if that is not renewed, there >>l be a bit of an issue first of all, we are having a vigorous agreement, i find it amazing. .conomics is not theology economics if you are running a , country, you have to create an opportunity for your businesses to be competitive. and that's all the exim bank does. and i have heard more ridiculous things said about the exim bank in the last six months than i heard in my lifetime. i believe it is important to extend agoa. and to improve it. i think we can do agoa in a way to encourage more economic diversification in africa. and i wish that not only our african panelists, but others here would give some thought to that. righ

africa andading to leading in africa. i am a believer that the contribution we can make is to develop those skills. >> thank you so much. [applause] you have had a very distinguished and productive variousce investing in ways in africa, particularly in infrastructure. you have been a pie and nearing partner for which we are grateful. you have built airports. it would be helpful to hear your canpective on how we attract more in the way of foreign investments. rolethe united states ought to milley -- role ought to be. ago, if you try to put into a room, this type of people, and try to talk about africa, the conversation would be very different. today, we are talking about business and returns. it is great. coming next six years, you can imagine what that will mean for capital. the manner in which we would like to have capital. on a long-term basis, what it can be able to in hardd also investing assets. infrastructure contributes to gdp. the whole competitive of the continent is dependent on improving the infrastructure. is

africa, america, america and africa. what we can accomplish together for the enormous benefit of our people. i will quote my colleagues. i think i quote irish poets because i'm irish. that's not the reason. i quote them because they're the best poets in the world. that's why i quote them. one of my favorite contemporary poets just passed away, seamus heney once wrote in a poem called the cure of joy, he says, history says don't hope on this side of the grave. but then once in a lifetime that tidal wave of justice rises up and hope and history ride. we have a chance, you have a chance, you have a chance in africa to make hope and history rhyme in a way that has never occurred before. we want to be your partners. we want to compete for your business. we want to compete for your hearts and your interest. we want to see you succeed. when you succeed, the entire world succeeds. thank you for giving me the time. i look forward to meeting you all tomorrow. thank you. [ applause ] >>> ladies and gentlemen, please welcome secreta

today you have the rule of law in africa. you have press freedom in africa. you have the freedom to create a company, a business. yes, there's corruption. there's corruption everywhere else. and our will is to fight very strongly against corruption. so you have to be optimistic on africa. you have to start to fight for development. and i call upon american businessmen to come to africa. there's no more risk than anywhere else, no more than other continents. and your real investment is much higher. the ebola virus. let me say how big is my solidarity towards the victims. i'm a neighbor of guinea. i'm almost a neighbor of sierra leone. we are in the crucible, the eye of it. but i will say that ebola is a devastating virus. it is not an african disease. you have to see this virus as a threat against humanity. it is a threat against humanity because with intercontinental flights, all you need is a flight to the u.s. or to europe so that you have a world crisis, a total crisis. so we have to mobilize the entire community, all the scientists in the world. all the r

/africa relationship. he called on students there, along with leaders from the 54 distinct countries of the african union and leaders from the united states, to embrace key tenets of his vision for our alliance; to advance progress in democratic institutions, to strengthen peace and prosperity, to encourage opportunity and development and to spur economic growth, trade and investment. as america's chief commercial officer, i feel strongly that this last pillar, the u.s./africa economic relationship, is fundamental to our mutual peace and prosperity. we know that businesses serve as a key bridge between our continents, but we also share the conviction that the ties of commerce can be stronger, deeper and more lasting. when i led a trade mission to nigerian ghana this past may, i heard a variation of this message from public and private sector leaders alike. the u.s./africa commercial partnership is essential, and the time to do business in africa is no longer five years away. the time to do business there i

africa summit here.n if the outcome of the summit is to make the americans more familiar with the diversity and energy, vibrancy of africa. that'll be a benefit. >> absolutely. some analysts see it as a response to china's decade-long surge investment and tried. my colleague, she talked with a professor, deborah, and she's a director. international development programme, and the china africa research initiative at john's hop kilometres per hour -- hop kilometres per hour, this is what she had to say. >> over the past decade chinese trade and investment in africa skyrocketed. for example, in 2013, chinese trade was at $220 billion with the continent. the united states was $85 billion. they are more than double, getting on to triple our amount of trade. it's not just imports of oil from africa, it's exports of the goods and services. this is where the united states wants to catch up. >> a quick programming note, you can see more of patricia's interview on "real money," this monday at 7:00pm eastern. do you

>> in the past we have seen a china africa summit, we've seen a turkey africa summit, we have seen in the africa summit, the only thing we did not see was a u.s. africa summit. this is the first of its kind. engagement of the u.s. in africa was pretty much limited to security in the past. i think harrison, for instance. i do think that obama wanted more engagement with africa when he came into office. the problem is from the first day he placed -- faced plenty of challenges. he had economic crisis, he had the crisis in afghanistan, he had the crisis in syria. i do not think it is a case of him not caring about africa, it is more a case of him not having the time to deal with africa india tell -- in detail. >> they developed strong ties in china with africa, did the u.s. miss an opportunity there? >> the u.s. stopped caring about africa at the end of the cold and member a british magazine publishing a story saying that africa was a hopeless continent. many companies shied away from investing in africa if you only get bad news. china did a better job in signing deals with african countr

between africa and the u.s. i believe is very important and paramount to extend and a new ex-im banks. today, a lot of countries have what you call credit in terms of buying equipment. america is competitive because of the cheap energy you have. american equipment is competitive. label component in manufacturing is not much. american equipment is competitive. if that is not renewed, there will be a bit of an issue. >> first of all, we are having a vigorous agreement, i find it amazing. economics is not theology. economics, if you are running a country, you have to create an opportunity for your businesses to be competitive. and that's all the exim bank does. and i have heard more ridiculous things said about the exim bank in the last six months than i heard in my lifetime. i believe it is important to extend agoa. and to improve it. i think we can do agoa in a way to encourage more economic diversification in africa. and i wish that not only our african panelists, but others here would give some thought to that.

growth in africa, powering manufacturing in africa, the economy and after, the health system of africa, powering -- in africa, powering the health system of africa. all of these goals could not happen without electric power, and that is one thing the president of the united states has done not only for africa, but for the world, because if relief, it a sigh of battle of thee world, and if africa continues to grow an industry continues to grow, some of the needed aspect of growth in other countries that are beginning to see tepid growth or even negative growth will be corrected by the growth of africa. so, what are we looking for here ? we are not looking for aid. we are not asking for handouts in africa today. shiftis a huge paradigm from the days of aid -- [applause] we are not looking for handouts. we are looking for partners. we are not looking for aid. you are looking for investment. we are not looking for philanthropists. we are looking for mentors. we're looking for people that how tolp us to learn fish, and not just give us pieces of fish from time to time. [applause] so, when w

africa is the mother of necessity.and we are missing not as the world, including the united nations, the people who ought to be thinking most critically about what life is a contextually import countries. so that within a month i had liquidated all of my things and moved and started writing this book. >> as you set off, what were the misconceptions you were carrying yourself into that situation? what were the biggest surprises for you? >> great question. i will answer them in two ways. one i think formality bias is a term i coined in the book to talk about the expectation that thinks a book is organized as they look in the united states for another wealth wealthy western country. as the presumption that getting directions means using google maps and you suddenly get where you are going. i think that extends to the role and reach of government by someone who is a good liberal, grew up in hyde park and covert american politics to realize the connection between the citizen and this date all across sub-saharan africa was b

it is impossible to treat hiv in africa. africa will have to wait for the next generation.ut through the effort of people like george w. bush, who pepfard the cap far -- initiative, and many in congress here who supported it, the outcomes are much better. we should never doubt the potential of africa not only to solve its own problems, what to grow in a way that will boost the entire world. it was the developing countries from 2008-13 that account for half of the global growth. we at the world bank group believed in africa. the next five panelists have all done things that show that they, too, believe in africa. sector private representatives here today, i would invite you, and get to know us at the world bank group. we do political risk insurance, credit enhancement, direct equity investments, and we have a private equity instrument called the asset management corporation that will invest with you in africa. the opportunities are enormous. just imagine, an investment in electricity that will not only provide you with very strong returns, but will reduce the price and incre

africa on america, america on africa. what we can accomplish together for the enormous benefit of our people. i will end, if you will forgive me, by quoting one of my favorite poets. john kerry, who you will hear from next, say that my colleagues always kid me because irish poets because i think i'm irish. that's not the reason. i do because they are the best poets in the world. [laughter] favorite contemporary poets who just passed away, shame is heaney, once wrote in a poland called "the cure of troy." says do notstory hope on this side of the grave, but then, once in a lifetime, that tidal wave of justice rises rhyme."hope and history we have a chance, you have a chance. you have a chance in africa, to make hope and history rhyme in a way that has never occurred before. we want to be your partners, we want to compete for your business, compete for your hearts and interests, but we want to see you succeed. because when you succeed, the entire world succeeds. thank you for giving me the time. i look forward to meeting al

africa. the washington bureau chief of the washington news, chair of the national press club speaker committee and former president. skipping over the guest of honor bloombergt kasha, news correspondent and speakers committee member who organized today's event, thank you. the minister of international relations and cooperation. paul barber, the north american editor of afp tv. connie long, president of audiovisual news and senior white house correspondent who for many years was familiar to south africans during the from washington and when she met nelson mandela when he was here 20 years ago he were and the radios smuggled into the cells, connie's broadcast gave them hope. thank you for being such an active member of the national press club. tony foster, founder and president to see fco international. the ceo of africa to the which launches today. [applause] very day, nelson mandela think the united states and international media for supporting south african struggle for democracy and the fig

isy have said that this africa century -- africa's century. if we look at things closely and follow everything that analysts and observers say, it would appear that the set of measures that african leaders have taken and the growth that is registered in the continent, the potential that is offered at present in africa, that would be true. i spoke of the wealth that africa has on its surface and underground, but i also spoke of its people. analysts say that by 2050, there will be 2 billion inhabitants in africa. this is the continent of the future, we believe. and a great powerhouse, i believe, as the united states itself is very that is my deepest conviction. >> recently, the republic of congo mediated a cease-fire between factions at war and the central african republic. what is the status of that agreement? what more needs to be done to end the violence? >> we believe that, after three days of intense discussion where all parties were present, the agreement to sign an agreement to cease hostilities is certainly noteworthy. that was certainly

we are africa. we will go our way when relearn what other people have because 20 years ago they said what about japan? before that what about the miracle of western europe? that we will learn the good things. that we try to learn those more than 50,000 applications that they believe they are of leader hint that is part of the government in to u.s. edes to raise more investment of the continent said. >> i think the strength the biggest resource is its people it is the optimism of continued perseverance to get things done is unbelievable. for me personally with my office is in nairobi we throw a costume party for christmas post came from there parents' closet. so we paul every a decade together to say how many of you were born in the '60s? to love them. one of them was me. one was my cfo. december 69. the average age is maybe 29. i don't find that in fairfield war schenectady. they cannot believe i worked at ge 34 years because that is longer than they have been alive. >> that initial people thinking

part africa leaders summit. the largest gathering any has everpresident hosted with african heads of government. this summit reflex a enter techive that has guided my president. africa as even as africa continues to face even as toollenges, many africans still endure hunger and conflict, disease, even as we work together to meet those challenges, we cannot lose sight that'snew africa emerging' we all know what makes trunt extra, such opportunity. expanding sectors like manufacturing and retail. growinghe fastest telecommunicationings markets in the world. reforming,ments are attracting a record level of investment. it last year in south africa i held a town hall with young men and women including some who joined us by video from uganda. and one young woman spoke for many for instance when she said to -- frins when she said we are looking to the world for equal business partners and commitments and not necessarily aid. we want to do business at home and be the ones to own our own markets. that's a sentiment we he

a book with africa without animals. until i looked at the manuscript when it was finished, i went through like i did it. no safaris, none of that. this book is a user's manual for the africa you have not heard about. the very ordinary things. given that my background is one of someone born in the u.s., right here in chicago, was in a lot of time and countries in sub-saharan africa. it's given me make perspective on where we are missing the mark, what we are not understanding and ordinary things like giving directions that here we would say we are coming to $700 pastry. if you were in nairobi where i was coming to be like okay, you will look for that petro station and then if you see a yellow building you've gone too far. so ask someone and then double back. so it's all contextual. if these ordinary little differences between different types of societies that i seek to eliminate, which is not as sensational or is scripting us a story of the kidnapping or multimillion dollar spanking transaction, but it's really the subs

if somehow africa unified into a united states of africa, what would be something i would say to him or her? know, i think the thing i would emphasize first and foremost is the issue of governance. sometimes this is an issue that raises some sensitivities. i think people feel like, who is the united states to tell us how to govern? we have different systems, we have different traditions. what may work for the united states may not work for us. ,y the way, the united states we don't see that congress is always cooperating so well. your system is not perfect. i understand all that. let's acknowledge all that. what i will say is this, that regardless of the resources a country possesses, regardless of how talented the people are, if you do not have a basic system of respect for civil rights and human rights, if you do not give people a workble, legitimate way to through the political process, to express their aspirations, if you don't respect basic freedom of speech and freedom of assembly, if there are not laws in place in which everybody is equal under the law, so that there is not on

africa is not a state. africa is many different regions at once.nd what we so often see -- you thinkebola," and you africa. there are many concerns, but there is so much else going on that is just fantastic. >> 22 countries now have their own oil and natural gas and there will be 45 in 10 years. but there are challenges with that. typically, to extract natural resources, you have corruption. how do you work around that echo >> at the world bank, we are very glad that so many of the african countries have signed on to what is called the extracted industries transparency initiative. this is to be very clear about what payments are going on back and forth. >> equatorial guinea, are they clear? levels of varying concern from country to country. but tell me about your level -- >> tell me about your concern for equatorial guinea. >> we have concerns about equatorial guinea, but we also have concern about countries all over the world. the point is not to blame one country or another, but to have the system in place to detect and go after corruption. we ha

investment in africa.nd the event is being overshadowed by the outbreak of the ebola virus as leaders from the three african nations have cancelled their plans to attend. earlier, i spoke with white house senior advisor valerie jarrett and former newo÷jc york mayor michael bloomberg how the crisis will impact the summit. >> the cdc issued a level three travel warning for americans saying do not travel to these countries to these countries in western africa. and yet there are delegations from those countries coming to america to the nation's capital for this summit. what precautions will be made. are you concerned? >> no, we are working closely with the cdc and making sure that we are observing necessary protocols for screening. and the good news the experts said you are not contagious unless are you exhibiting symptoms. we will be monitor the situation but are confident that the summit will be a success and take the precautions that are necessary. >> mayor bloomberg are you involved in the summit. what is

we can do a lot in africa. the risks are talked about a great deal but if you go and travel and look at the opportunities there you can find ways to improve those risks in a way that is perfectly acceptable to the government's needs of most of our companies. let me give you an example. when we go to bank in africa, we need to take from them two partners both with james and sam and take a certain level of guarantee that takes 2-3 days between the time the merchant is paid and we collect the money back. if you went to small banks, i would be underwriting hundreds and i cannot do that well. we go partner with institution like the ifc and find way they can do the underwriting and we accept clot collateral. it is true what you can do with all kinds of risk in this space. that is how i view it. >> we were talking about the african continent and we need a middle class and you are knowledgeable on this. >> my view goes a bit toward what james is saying. i believe if you just -- the rich will get richer at a point in ti

in africa. in south africa under apartheid, in darfur, in the sahel, in the great lakes region, in all of these places the congo has always been present and made its presence felt in a constructive manner. in the promotion of peace and security, national reconciliation. in the case of south africa under apartheid, i am very pleased, indeed, to see here ambassador cohen. we worked quite actively and quite closely with ambassador cohen, and i greet him and am pleased to see him here. and also undersecretary kocher. together we worked very hard to bring south africa, angola and cuba together, worked for the retreat of cuban troops in angola and the independence of namibia. but a few of the areas in which we collaborated. to illustrate, i will speak briefly about specific action my country has undertaken in the drc and in the central african republic. in the democratic republic of congo, my country plays the role of facilitator in the national dialogue, bringing the main political factions together

is africa stable? >> i think africa is, you know, remember it's 54 countries.here are some very stable economies in regions. there are some regions where the stability is not as -- as good as investors would require, but essentially all emerges markets are volatile compared to developed markets, but the returns are potentially higher, and that's what investors and businesses want. because businesses are looking for growth as long as they manage the volatility proper i will they can do pretty well. >> so let's take out the stability. businesses want stability and rule of law. let's look at sub sa -- saharan africa. what are the impediments to investment there. you have rule of law, political stability, in south africa you have infrastructure. is infrastructure the biggest challenge in africa? >> i think infrastructure and scale of market. so one of the things africans need to -- african governments need to do is make sure they organ nice their regions properly. there are a number of smaller countries there. so it's -- it's trade policy in regions and physical in

of africa -- and africa. it will provide for mechanisms to monitor the implementation of jointly-agreed actions. ministers the global , trading system is undergoing significant change. the advent of trade agreements within the context of an uncertain development agenda will affect the ability to enhance its share of global trade. it is therefore within the context of our partnership good to find ways to exchange notes on these important issues. in conclusion, the litmus test of the partnership would be in its ability to improve quality of life, including the safety and security of the people of the united states, africa, and the rest of the world. external risks and shocks we face, such as climate change, conflict, and other conditions, can be better managed through a dynamic partnership of equals bills on a common heritage, values, and aspirations. finally, let me quote an african proverb that says, "if you want to go fast, run along. if you want to go far, go together." our partnership is to build a strong

north africa, sub-saharan africa, south africa as well.e looking at the gamut of opportunity. >> what do you see in sales over the next five years? >> we believe the industry will go up by 40% by 2020. our goal is to bypass the industry. we want to do better than what the industry is out there for. annually?out units >> in 2013 we were at 200,000. we expect to do better than that. about 3.9l market is million. we expect our share to increase. our share in south africa was 12.5% this past month. we think we're doing pretty well. >> if you ever needed to sell more cars. toyou drive from cape town cairo, what do you drive? >> i take a ranger. i take a ranger throughout africa any day of the week. >> how many oil changes? how many flats? >> no flats, three oil changes. we would definitely have a flat. [laughter] back to you. nichols, our international correspondent. it is 26 minutes past the hour which means that at this time for on the markets. a selloff today, the s&p 500 lowered by 18 points. the dow jones falls by nearly 40 points -- 140 p

-africa summit. for more on that, let's bring in our africa specialist. thank you for speaking to us. the u.s. is far behind both europe and china when it comes to trade with africa. u.s. trade with the whole continent is only about a third of that of china or europe. do you think these promised investments from the president are enough to catch up? >> not at all. these promises are yet to be realized. he is a weakened president. his policies across the globe -- yesterday, a general of the u.s. army was killed. in syria, iraq, everywhere in the world, he is showing weakness. he is following in the footsteps of the chinese. he cannot compete against the chinese or the europeans. america does not seem to know -- they expect africa to show leadership in terms of good governance. but using this talk about the rising africa that some people in the western world are talking about, this is a problem that remains very serious from boko haram -- mr. obama is out of the loop. the money will be spent by foreign multinationals. they have to double check the condition

and africa.engthen our reflect uponlet's that each experience in the past 14 years is building toward the future. this should be done within the context of africa that is aspiring to be tasteful, integrated, and prosperous, and based on inclusive growth. africa that will continue to be , and over theing thatthe case, a continent inspires good governance and respect for human rights, justice and human -- and rule of law. in order to a compass this, it must invest in children, young people, and in their health, education, skills, and technology to produce productive citizens and to give them a voice and participation in society. it is for this reason that africa is pursuing a skilled thousands in train these endeavors. any post 2015 u.s. africa cooperation must draw lessons from past remarks and build a new arrangement taking into account the current global economic environment. for example, unlike during the ago iten the first agoa was -- the first agoa was imagine a plan for trade and agenda. the

africa relations. basically, united states and africa has a reputation of permanent interest and not personal innocent friends. for some of us who are attending the summit, we've been receiving warnings that what are you doing there? what are those americans trying to put in your head? they think that you pick stories, you pick angles that work best for the american and international interests than the local we think we have a lot of good stories. we're the first generation to access high-tech now. we don't just download akon music. by the way i'm honored to meet you. we also share our stories. we tell our american friends that africans is not all a jungle and diseases and wars. we have happiness in cities. that is a positive aspect. what i'm trying to ask here is what is america trying to do to get past this bad reputation and even more important to what extent is america willing to treat africa as equal and avoid bad branding or punitive measures when africa decides to act in its best interest. >> jo

africa. good morning distinguished guests, ladies and gentlemen. my name is faith, i'm a broadca broadcaster, business woman and world changer. but that is who i am. this morning, let's talk a little bit about who you are. who are you with the narrative has depicted you as dark? who are you when the shadow of corruption as well as the shadow of instability has cast a shadow of your own ingrowth greatness. who are you when hunger has been given a face and that face is you. who are you when the mentales m shark shackles refuse to calm down. i say you are the ones. africa, you are the ones who will testify of the greatness and the light of our african continent. by your works, all the world will know that africa is no longer a sleeping giant but indeed it is awake and it is open for business. [ applause ] we would like to thank president o obama's washington fellowship for young african leaders which has really opened our eyes about the endless abilities that may occur when we no longsee oursel

it is clear that the africa of 2014 is not the africa of 2000. many of you are moving away from unilateral preferences and entering into agreements with trading partners which provide for reciprocal access. going forward we cannot think of agoa in isolation. that is why for the past year we have conducted a review that asked not only how agoa was working but also how it fits into the broader ark of our trade and development policy. ur efforts relied on the input of the government private sector and civil society. among our findings one observation is clearer than the rest. to unlock ago amp's true potential we need to do more than focus on tariff preferences. in our view, ago -- agoa must be linked slowly. we are looking for a compact supported by the industries and backed by international artners. today's next ordinary opportunity to begin filling in the details and begin towards trade, growth, and a moment. consider the challenges that many countries face and -- at borders and ports. corruption and gas and infrastructure can make the time assoc

know the potential of africa consummate africa is the last place they want the need for the resources africa is in doubt why so many strategic minerals so well with speaking even a trade i don't see the relationship of the united states and the way being the same way as the united states and congo for example because whenever they dealing with a european counterparts that's not how they deal with i'm not saying the united states training french soldiers no no we germans are european nations why are they doing so on african consonants. africa is a continent is not that's be recolonized but in this context or so the people in this country is we are no waiting for washington to change people in all these countries are organizing a book enough so we had a movement of view of what the king into the street street even in sudan in khartoum there is a you know mobilizing the you have to have a say in the democratic process in the congo to think so do you for all of africa they are mobilizing the challenge of the face that the people will represent them being backed by washington and they have

africa? to compete with china's growing influence in africa? >> okay. mort. >> yeah, i mean, i don't think that is the reason. i think africa is an improving dynamic area of the world, but it is nowhere near the kind of size at this stage of the game that will have a major effect on our exports, our economy, or on the world. but it is an area we should nurture for good reasons and we will. >> six of the ten fastest growing economies are in africa. cell phones, smartphones, the energy grid. such potential there for american, africa growth. and this country is probably 15 years behind africa going in there and ripping off a lot of their natural resources and i think the president is basically saying, you know, we are not totally altruistic, but we can give the africans a better deal than the chinese. >> he also has an emotional attachment to the third world and africa. but the chinese are drawing the resources out of africa while we put our money into foreign aid and curing aids. a lot of what

we don't look to africa simply -- [applause] we don't look to africa simply for its natural resourcesecognize africa for its greatest resource, which is its people and its talents, and their potential. [applause] we don't simply want to distract minerals from the ground for our growth. we want to build genuine partnerships that create jobs and opportunities for all our peoples, and6bess that unleash e next era of african growth. that the kind of partnership america offers. since i took office, we have stepped up our efforts across the board. more investments in africa. more trade missions like the one this year. and more support for u.s. exports, and i'm proud, i'm proud that american experts to africa have grown to record levels. supporting jobs in africa and the united states, including a quarter of a million good american jobs. but here's the thing. our entire trade with all of africa is still only about equal to our trade with brazil. one country. of all the goods we expert to the world, only about one percent goes tor4áóç subsaharan africa. so we have a lot of work to do. we have

they are incredibly positive for sub-saharan africa. there is the mozambican woman who'd talks about wait where you are stuck you don't have the economic opportunities that match your ambition said gdp growth has not trickled down to the form of the job you are ambitious but don't quite have all of the access whether tangible or skills to move on and with your life to move on to start to end family now waithood is the lot of tens of millions of young people in sub-saharan africana as i think when you look at boko haram the those are the fruits of idleness with the overlay of religious extremism. the other end is to see young people who do incredibly important things than solve problems locally. the frustrating thing is not just the economics of waithood but the political economy sub-saharan africa has the largest gap with the age of leadership and public in the world and in the united states it is 16 am barack obama is 52? and just celebrating his 90th birthday, those who were geriatric for those who are hungry and concerned and motivat

in africa, from north africa to nigeria and somalia and kenya on the east coast of africa. you are seeing the rise of al qaeda affiliates and individual militant groups growing in power in their areas, launching more and more attacks. what this summit has been about is to foster economic development and investment in africa and the way to do that, the the way to start getting western or european countries to invest in africa and asian countries to invest in africa is to ensure there is security and they will not invest if there is not security. that takes you right back to terrorism. the u.s. strategy now, no more big land wars and u.s. special operations all over africa, training, helping, training, advising local african forces. in somalia, we all remember black hawk down and the somali people, very anti-american and it's one of the case studies. they are now very quietly, a significant number of u.s. special operations in somalia helping track down militants, conducting operations and the somali government wants them there because they want the security so they can get t

peace in africa. in closing, i want to say this has been an extra dairy event, and asked rory -- uninsured are -- an extra ordinary event, on extraordinary summit. we agreed that the u.s.-african leaders summit will be a recurring and i'll strongly encourage my this work o carry on because africa must know they'll a strong reliable partner in the united states of america. some questions. i'll start with julie. >> there's been a lot of about the ebola outbreak ask there's an untested unapproved drug in the u.s. that appears to be helping some of the americans who are infected. is your administration considering at all sending supplies of this drug to some of countries in west africa providing ou discuss it to only americans and not ther countries if it could possibly save lives? >> i think we've got to let the guide us. i don't know if all the nformation is in whether this drug is helpful. what we know is that the ebola both currently and in the controllable if you have a strong public health infrastru

the world must be optimistic towards africa. africa is opportunity. this is the perception we wanted to share with you, a land of opportunity where growth could be shared. earlier on i was following the speech made by vice president biden. he said the american investment on the continent creates employment in the u.s., it benefits american growth. that is what he said. it is within this win-win partnership that we africans have come to meet our american brothers from which we were separated for so long, but we will talk about that later, the separation concept, the continent, i mean. we are happy to be here in order to engage especially with the american private sector and talk about the perspective of a very promising continent that is africa today. thank you. [applause] >> just like my colleagues here on the panel, i want to start by thanking president obama and the administration of the united states for providing the opportunity for this summit which brings together the united states and africa to forge the kind of partnership that is very essenti