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MTaking place in Richmond Virginia, during the 4TH centennial of legislative assembly, this forum will start on October 2 and end on October 4.  During these three days, participants will get the chance to learn about new investments opportunities in both continents, build business relationships and match their interests. The third day will be dedicated to a tour in some Virginia winery, and manufacturing companies. Panels will be composed of business guru, academics and government officials.  To successfully carry its activity, collaboration with other agencies and centers interested in international business promotion will be paramount. The US-AFRICA Network Initiative believes that businesses can be a catalyst for social change, for the creation of jobs, poverty reduction and the mitigation of violence. At the end of the forum, a clear roadmap for the establishment of business partnerships should be drawn.

This forum is also taking place just some months after the African Continental Trade Agreement has become a reality. In fact, Since May 30 2019. The first African Continental Trade Agreement enters into force. With this, Africa is set to become one of the largest trade partners in the world. The execution of this agreement has the potential to double Africa’s gross domestic product (GDP) to $2.5 trillion per year, and will set in motion significant improvements in competitiveness that will reshape global business. The United Nations Economic Commission for Africa estimates that the agreement will boost intra-African trade by 52 percent by 2022.  The successfully implementation of the agreement will help Africa generate combined consumer and business spending of over $4 trillion. The African Union estimates that African markets will grow twice as fast as the developed world through 2050. This is definitely good news for investors and entrepreneurs.

Moreover, while small business and big corporations from other continents are heavily investing in Africa, US entrepreneurs and particularly African American have not yet seized the business opportunities offered by Africa. In the same context, while small business from other continents are doing business with the US, many African business have not yet taken advantages of possibilities that offer the US market.

This forum aims to bridge this gape through discussions, information sharing and potential partnership consolidation.

MEET OUR PARTNERS

 The center for international business advancement (CIBA) at VCU’s School of Business supports initiatives aimed at advancing the development and growth of international business. Over the years, CIBA has been involved with programs such as the Africa Business and Entrepreneurship Research Society (ABERS). We are excited this year, to partner with BOSS LL C  and Africa Network Initiative, Inc. We are optimistic for this conference because it aims to take the conversation of African business and entrepreneurship partnering with USA counterparts to the next level—providing an opportunity for businesses to collaborate. While the conference will serve as a catalytic event in fostering the said partnerships, it is the hope of CIBA that there is sustainability beyond and that is where we see our role as a support function. 

 We welcome all the conference participants to Richmond and wish you all success! 

Located in the historic downtown of Richmond Virginia, the Center for International Business Advancement  at the School of Business offers the Virginia Commonwealth University community insight into global business through forums, courses, research, scholarships, grants and service projects.

CONTACT C.I.B.A

Van R. Wood, Ph.D.
Philip Morris Chair in International Business
Snead Hall, Room B4102
(804) 828-1746 (office)