LYNCHBURG, Virginia – The Equity for Africa Summit continued at Liberty University Wednesday, as political and business leaders from across Africa and the United States gathered to find new ways to work together to share potential and proposals for entrepreneurship in Africa.
Dr. David Brat set the adgenda for the day, the bulk of which were breakout sessions where African leaders and African businesses pitched their projects to American businesses, private financial institutions, and the U.S. Government.
“Today … we’re going to be joined by heads of state coming in from Nigeria, Lyberia, Ghana, in the first few hours, coming in largely virtually due to COVID issues,” Brat said.
He continued, “After them, we’ll have the connectors from the World Bank, USAID, some of the development banks, Congressman Ted Yoho, et cetera. And then we have about sixty or seventy high-end, powerful CEOs coming in to connect with the African officials that are here today as well.”
In all, 10 African nations and over 30 American businesses were represented, mostly by their CEOs.
One noted speaker today was Rep. Ted Yoho (R-FL-03), U.S. Congressman and author of the Build Act (2018), a $70 Billion fund to aid African business and development. Rep. Yoho presented to the attendees what opportunities the Build Act makes available to African businesses. One of the previsions of the Act is that the US Government will partner with African businesses financially for an equity stake in their business.
Rep. Yoho stated, “It is not the goal of US Government to own businesses in Africa, the goal is to assist businesses to eventually secure local financing from African banks.”
Several of the organizations at the summit are seeking partners to aid with the solution for the need for clean drinking water on the continent of Africa. Dr. Segun Falope, the managing director of Belmont Nigeria Limited, a 34-year-old company that supplies potable water to the rural communities of Africa, states “there are 200 million people in Africa that do not have access to clean water.” He participated in the summit “to have interactions with American partners and check on new technologies” and, Dr. Falope continued, “I am here to be a better steward in the business I do, to the community I serve. I am looking forward to going home with fresh ideas and innovations.”
Dr. Falope conected with Mr. Jacob Adegoke, VP of Business Development with the Omnex Group, a California based financial company that specializes in international funds transfers with well recognized brands – Giromex, LE and Uno. Mr. Adegoke states he is participating in the summit “to meet business and decision makers in Africa, and to gain contacts to improve our business in Africa that has to do with banking and mobile payments.” Mr. Adegoke stated that personally he is passionate about the technology Dr. Falope is involved with in water purification.
Mr. Adegoke stated that a problem in Africa that “is that many companies go in and out Africa and do not provide quality water, but they price it so much.”
He added, “we are looking for a product that is so simple, so pure, and so affordable.”
Mr. Adegoke shared that they are in discussions with Michael Boulos, a Nigerian billionaire who is engaged to Tiffany Trump, President Donald Trump’s younger daughter, to bring to market in Africa a new water filtration system created by the inventors of Brita and Pur water filters. Mr. Adegoke said, “The water filter is thin like paper, can be formed in different sizes and can be used by someone to simply pour water through it and into a cup.”
The meeting between Adegko and Falope is just one small example of the successes coming out of the Equity for Africa Summit breakout sessions where African business leaders and American Finance have connected to bring clean affordable drinking water to the African continent.
The Equity for Africa Summit continues through April 15.
Watch the day’s events here. Rep. Yoho’s remarks begin a 5:01:00hr.
– – –
Joshua Pratt is a freelance writer for Star News. Joshua lives in Lynchburg, VA; and is a conservative grass roots organizer. Currently, he serves as the Political Director for Virginians for America First. He can be reached at [email protected]
