US undersecretary on business visit in South Africa

By Godfrey Olukya    7-5-2013

USA’s under secretary of State for economic growth, energy, and the environment Robert D. Hormats is on official visit in South Africa since yesterday and it will end on 10th this month.

While in South Africa, he is scheduled to meet, with government officials, civil society, advocate for U.S. businesses and investors, and to highlight Africa’s impressive economic results over the past decade.Today in Johannesburg and Pretoria, Hormats is to address the Gordon Institute of Business Science on Global Trade Partnerships in  the 21st Century. He is also  to hold a roundtable on wildlife trafficking at University of Pretoria, meet with the American Chamber of Commerce, and conduct media interviews.

Tomorrow, the Under Secretary will travel to Cape Town to meet with South African government officials and attend the World Economic Forum on Africa, where he will address several sessions.

A statement issued about his visit said that Africa has the potential to be a major player on the global stage, given its vast energy resources and revolutions in information communication technology. Top business analysts,consulting firms, and think tanks worldwide are urging business investment on the continent.

Some 600 U.S. firms reportedly have a presence in South Africa, including Ford, GM ,Citibank, and IBM. U.S. firms often use South Africa as a platform  for doing business in the rest of Africa. Many businesses understand the great potential in Africa and have positioned themselves to be part of the region’s growing economic dynamism.

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