US businesses pump investment into Africa at Biden summit

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China has become a top player on the African continent, with infrastructure projects and loans. Read more at straitstimes.com.

WASHINGTON - President Joe Biden was set on Wednesday to lay out a long-term commitment to African leaders as US companies announced more than US$2 billion , led by technology deals, for a continent where China has become a top player.

On the second day of the three-day summit, US businesses also mobilised to lay out business plans in Africa, where China for the past decade has outpaced the US with its spending blitz. Technology leader Microsoft said it would employ satellites to bring Internet access to some 10 million people, half of them in Africa, hoping to bridge a digital divide that has held back the continent.

Mr Smith said he saw wide support in Africa for bringing Internet access, saying many governments have leapfrogged over their Western counterparts in ease of regulation as the continent did not have the same “extraordinary web of licensing regimes” in place from the past.Unlike China, which has had a hands-off policy towards countries where it invests, the US has also emphasised democracy, with Mr Biden planning to press leaders up for election next year to ensure free and fair polls.

 

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