The head of state's statements were made during the US-Africa Business Summit, which runs until Thursday in Dallas, in the US state of Texas, and which will bring together more than 1500 executives from the public and private sectors of the US and Africa, including heads of state, international investors and multilateral actors, according to the event organizers.
According to João Lourenço, who spoke as first vice-president of the Assembly of Heads of State and Government of the African Union, the prospects are "quite encouraging" in relation to the intensification of cooperation between the US and Africa, particularly in relation to the construction of infrastructures, which represent "a fundamental and crucial step in the process of economic and social development" on the continent.
The President indicated that African leaders have made efforts to "silence the weapons on the continent" and "combat terrorism and unconstitutional changes of power", aiming to create a good business environment that attracts more and more private investment, in addition of wealth and employment for their populations.
"Private investment is important for the economy of our countries, which need to increase and diversify the production of consumer goods and services, transform raw materials and diversify export products", noted Lourenço in his speech, which was subsequently sent to Lusa.
"However, we recognize the importance of public investment and public-private partnerships in infrastructure, for the leap that the continent intends to take and which is already late compared to other regions of our planet", he maintained.
Lourenço argued that African economic integration implies "greater mobility, connectivity, ease of circulation and sharing of some fundamental infrastructures" between African countries, for an easy connection between the continent's various regions and countries.
"This will only be a reality when we invest heavily in the construction of highways, roads and transnational highways, in the construction of more railways, more hydroelectric dams and respective transmission lines, more kilometers of submarine cables and fiber optics, which will also enable the effective implementation of the Continental Free Trade Agreement", he said, calling for investment.
At a time when the issue of energy transition is on the agenda, João Lourenço said he would like to see "direct American private investment in the exploration and transformation – preferably local – of critical minerals abundant in Africa, for the production of batteries for cars electrical, solar panels, semiconductors and ships".
The issue of food security was also addressed by the President, with Lourenço highlighting the potential of the African continent in this area, which could be increased through private investment and North American knowledge, which could transform Africa "into a great producer and exporter of goods quality food for the world".
"The African continent can play a crucial role in overcoming both the energy crisis and the food crisis that the world is facing. Therefore, we understand that a different view of Africa from the USA could be the key to these two problems that afflict the world economy. Be pragmatic and don't waste this opportunity that opens up for the benefit of everyone", he urged.
Finally, João Lourenço emphasized the "great concern common to most African countries", which is linked to the challenge of public debt and which "seriously conditions the execution of development programs and which must deserve the attention of credit institutions".
The head of state defended that a balance be established between obligations towards the creditor and the imperatives of implementing the development programs of African countries.
The session in which João Lourenço spoke was attended by the US ambassador to the UN, Linda Thomas-Greenfield, the governor of Texas, Greg Abbott, the executive director of the Corporate Council for Africa, Florizelle Liser, the president of the Corporate Council for Africa, John Olajide, among others.
