WASHINGTON – From July 11-12, 2023, the U.S. International Development Finance Corporation (DFC) CEO Scott Nathan led the United States’ delegation to the U.S.-Africa Business Summit in Gaborone, Botswana, co-hosted by Corporate Council on Africa and the Government of Botswana. The Summit’s theme “Enhancing Africa’s Value in Global Value Chains” underscored priorities that include regional economic growth, catalyzing two-way trade and investment, as well as strengthening partnerships with governments, multilateral organizations, and private sector partners across the African continent. As head of delegation, CEO Nathan reflected on the progress made by the U.S. Government on commitments announced at the December 2022 U.S.-Africa Leaders Summit and highlighted DFC’s role in advancing economic development across the continent.
At the Summit, CEO Nathan announced that the Corporation is well on its way to surpassing $1 billion in transaction approvals in Africa this year and highlighted that more than $11 billion of DFC’s portfolio is dedicated to investments on the continent, currently the largest share of the organization’s portfolio. DFC also highlighted several recent transactions that provide financing in critical sectors.
While at the Summit, CEO Nathan met with H.E. Mokgweetsi Masisi, President of the Republic of Botswana and co-host of the Summit, to discuss the importance of bringing U.S. and African leaders together to grow U.S.-Africa trade, business, and mutual prosperity. Mr. Nathan also met with the President of Niger Mohamed Bazoum at the Summit. During the conversation, Mr. Nathan emphasized DFC’s interest in growing investments in Niger to support economic growth and bolster energy security in Niger and the larger Sahel region. Mr. Nathan met with President Filipe Nyusi of the Republic of Mozambique, where they discussed opportunities for DFC to support projects and expand our portfolio in Mozambique, including food security and energy diversification. He also met with Prime Minister Samuel Matekane of Lesotho to discuss ways to collaborate to achieve their common goals.
CEO Nathan was joined by Enoh Ebong, Director, U.S. Trade and Development Agency; Judd Devermont, Special Assistant to the President and Senior Director for African Affairs, White House National Security Council, and other U.S. government officials; as well as a delegation of U.S. institutional investors. This delegation follows travel by Vice President Kamala Harris, First Lady Dr. Jill Biden, and other cabinet-level officials to the continent this year in recognition of the importance of the U.S.-Africa partnership.
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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.