Kuramo Capital Management was proud to participate in a fact-finding visit to Nigeria and Rwanda with the U.S. Secretary of Commerce, Penny Pritzker, and members of the PAC-DBIA on January 24 – January 28, 2016. The purpose of the trip was to assess the business environment and make further recommendation to President Obama on the opportunities for commercial engagement that exist between the United States and sub-Saharan Africa. The delegation was made up of U.S. government officials from across agencies including Wanda Felton, Vice Chair and First Vice President, Export-Import Bank of the United States; Kyle Murphy, Director for African Affairs, National Security Council; Subha Nagarajan, West and Central Africa Manager, Overseas Private Investment Corporation (OPIC); and Enoh Ebong, Deputy Director, U.S. Trade and Development Agency, among others.
The first leg of the trip began in Lagos, Nigeria where Secretary Pritzker along with other senior U.S. business executives, met with local business stakeholders from the American Business Council (ABC) and Nigerian American Chamber of Commerce (NACC) to discuss the opportunities for trade and investment partnerships between the American private sector and Nigerian business community. The delegation then met with the Vice-President as well as Cabinet Ministers and other senior government officials in Abuja to share their observations with the Nigerian government and deliberate on opportunities for strengthening ties between the two countries.
In Kigali, Rwanda, members of PAC-DBIA and Secretary Pritkzer were hosted at the Presidential Palace for a CEO Roundtable with President Paul Kagame and East African business leaders. Addressing the meeting, President Kagame highlighted the efforts of the Rwandan government towards encouraging investment opportunities between the United States, Rwanda and the wider East Africa Community. At the event, Secretary Pritzker applauded Rwanda’s economic story including its Ease of Doing Business ranking and its policies aimed at fostering local and foreign investments within the most integrated and fastest-growing regional economic community in Africa.
Given the excellent feedback received from the business community, we believe that the PAC-DBIA trip will no doubt create a platform for expanding commercial ties between the United States and Africa through partnerships and business opportunities.
PAC-DBIA Members present include: Walé Adeosun, Founder & Chief Investment Officer, Kuramo Capital; Dominic Barton, Global Managing Director, McKinsey & Company; Edward Mathias, Managing Director, The Carlyle Group; Teresa Clarke, Chairman & CEO, Africa.com; Jay Ireland, President and CEO, GE Africa; Dow Wilson, President and CEO, Varian Medical Systems; Melissa Cook, Founder and Managing Director, Africa Sunrise Partners; Karen Daniel, Executive Director and Chief Financial Officer, Black & Veatch; and Rahama Wright, Founder and CEO, Shea Yeleen Health and Beauty.