The U.S. Chamber of Commerce’s U.S.-Africa Business Center released its Investor Confidence Indicator for Africa (ICIFA), a tool it created to support business investment and government policy decision making on the continent. The ICIFA uses twelve international evaluations to create a composite score for each nation that measures the ease of doing business there. Factors that determine a nation’s score include security, development, and good governance rooted in the rule of law, as well as economic freedom, press freedom, and human development.
“The Investor Confidence Indicator for Africa can be a useful tool for government and industry leaders alike as they make policy and investment decisions that drive economic growth across the continent and here in the United States,” said Scott Eisner, President of the U.S.-Africa Business Center. “The factors that foster good government and a strong society are many of the same that create a positive investment climate for businesses.”
The U.S.-Africa Business Center also released its policy recommendations for the Trump administration for how to advance the U.S.-Africa trade relationship. Policy recommendations include enhancing U.S.-Africa bilateral and regional engagements; improving the ease of doing business for U.S. companies; focusing on infrastructure; boosting Africa’s digital transformation; adding value to Africa’s agricultural sector; and advancing trade facilitation and customs modernization.
“The future of our export-driven economy lies in Africa,” Eisner added. “Deepening our commercial ties throughout the continent will support job creation, level the playing field for American companies, and promote U.S.-Africa security.”
The indicator and policy recommendations were released during “Africa Forward,” an event to discuss how investor confidence and smart policy can advance the U.S.-Africa trade relationship. Panel discussions examined ways to leverage the private sector and diversify Africa’s economies. Speakers included Republic of Ghana Minister for Trade & Industry H.E. Alan Kyerematen, Black & Veatch President of Special Projects Greg Clum, Procter & Gamble President IMEA Mohamed Samir, Thomson Reuters VP Government Solutions Don Peele COMESA Business Council Chair Dr. Amany Asfour, American Tower President for Latin America & EMEA Hal Hess, and Initiative for Global Development President & CEO Dr. Mima Nedelcovyca.
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