The first ever US-Africa Business Forum is to be held in Washington DC on 5 August this year, with the aim of boosting private sector investment in Africa.

The day of talks between heads of state and business leaders at the Mandarin Oriental will form part of President Obama’s US-Africa Leaders Summit, the first of its kind.

It will aim to foster US private sector engagement in Africa in finance and capital investment, infrastructure, power and energy, agriculture, consumer goods, and information communication technology.

“The opportunities for the US and Africa to work together to achieve mutual prosperity for our countries and our people are growing,” said US Secretary of Commerce Penny Pritzker.

“Africa is home to seven of the 10 fastest-growing economies in the world, the middle class across the continent is expanding, and there is great potential for US firms to sell their goods and services, and leverage their expertise, to help African countries meet their development goals.”