African leaders urge US to prioritise investment-driven partnerships at US-Africa Business Summit - MSN

The recent US-Africa Business Summit has crystallized a fundamental shift in transatlantic competition for African markets. American policymakers and business leaders are now openly acknowledging that traditional frameworks—particularly the African Growth and Opportunity Act (AGOA)—are insufficient to counter growing Chinese and European influence across the continent. This recalibration presents both threats and opportunities for European investors already embedded in African markets. For over two decades, AGOA served as America's primary tool for African engagement, offering preferential trade access to eligible Sub-Saharan nations. However, the framework's limitations have become increasingly apparent. AGOA has failed to meaningfully diversify African economies, remains concentrated in a handful of nations (South Africa, Kenya, and Ethiopia account for the majority of benefits), and has lost competitive relevance as African governments seek comprehensive investment partnerships rather than trade concessions alone. The US business community's pivot toward "investment-driven partnerships" represents a belated recognition of what European investors have long understood: African markets demand capital deployment, technology transfer, and genuine profit-sharing arrangements—not simply market access. This shift carries significant implications for the competitive landscape. American companies are now pursuing what European firms have already established: direct equity stakes, joint ventures, and long-term sectoral commitments across telecommunications, renewable energy, agriculture