Quantcast

African Global Economic and Development Summit set for USC on Aug. 13-14

Opening pathways for investment on the continent

Molly Young | 8/8/2013, 5:19 p.m.
Aliko Dangote, a Nigerian businessman considered the richest man in Africa and, according to Forbes magazine, No. 43 on its ...

Aliko Dangote, a Nigerian businessman considered the richest man in Africa and, according to Forbes magazine, No. 43 on its international list of billionaires, is scheduled to speak at the African Global Economic and Development Summit (AGEDS) being held at the University of Southern California on Aug. 13 and 14.

The summit is being organized by the Global Green Development Group (GGDG), an international consortium of businesses, headquartered in Diamond Bar, Calif., which is hoping to open pathways for American businesses to invest in African countries. The GGDC was created to help emerging Third World countries expand with new business opportunities.

Global Green Development Group spokesperson, Mary Flowers, said the emphasis at the summit will be on opportunities in Nigeria, and the group’s hopes is that the summit will “de-mystify” doing business in West Africa. Flowers said businesses currently being invited are those involved in healthcare, housing, agribusiness, biofuels, renewable energy, aerospace and defense, as well as those involved in mining, power, oil, gas and water resources.

Asked about concerns of political instabilities that Americans hear about so often in African countries, and she emphasized, “We are demystifying these myths. While we in the United States are believing these things, other countries, are going into Africa.”

According to Flowers, Africa is one of the top 10 hottest markets in the world for investors and “Nigeria is forecast to achieve a 7.2 percent gross domestic product while European and American markets are somewhere around 2 percent.

“The increase in growth is enormous on the continent of Africa,” she said. “We have invited all African nations to participate, but this summit will emphasize opportunities in Nigeria.”

Nigeria, which is the most populated country in West Africa, has become an expanding economic market power with a number of natural resources, particularly petroleum, and is the 12th largest producer of petroleum products in the world and the fifth largest supplier of oil to the United States.

In terms of economy on the African continent, it is second only behind South Africa. According to Citigroup, Nigeria will achieve one of the highest GDP growths between 2010 and 2050.

For the summit, many businesses will be presenting exhibitions, as well as participating during breakout sessions, providing individualized and specific investment opportunities. Another confirmed speaker will be Nigerian businessman, Ben Murr.

Those who wish to understand these opportunities, should contact Global Green Development Group at (909) 396-5141, or email Infor@GGDGNow.com. The summit will be held at USC in the Hedco Auditorium in the Seely Mudd Building on 3620 McClintock Ave. General admission is $160 for the two-day presentation, and $175 for VIP admission.