ADDIS ABABA, Feb 5 The Chairperson of the African Union (AU) Commission, Dr. Nikosazana Dlamani Zuma, called on companies from the United States to invest in projects which can help improve the lives of Africans.

“It is better that US companies focus on improving the lives of African countries which have registered remarkable economic growth over the past decades,” she said in an intervioew with the Ethiopian News Agency (ENA) here Thursday.

She said many US companies had been lured to Africa because of various reasons, including its cheap labour and abundant market. Economic growth, conducive investment atmosphere and abundant natural resource are also among the reasons which have attracted US companies.

According to Dlamini-Zuma, US companies can be highly profitable by investing in Africa’s infrastructure, power, agriculture, tourism, manufacturing, agri-business and agro-processing sectors.

Since the continent has abundant potential for renewable energy and access to electricity is limited, energy development is another area that US companies can be involved in, she added.

More than 1,100 business executives from the US and Africa have been discussing in Addis Ababa this week about investment and business opportunities in the continent at the 10th US-Africa Business Summit.

The four-day biennial summit which ended Thursday brought together representatives of governments, entrepreneurs and investors, decision-makers and managers from Africa and the US to discuss opportunities and forge new partnerships.

This is the second time for Africa to host the summit. The first was in 2007 in Cape Town, South Africa.

Source: ENA