LUANDA, Angola – Opening the 17th U.S.-Africa Business Summit, Angolan President João Lourenço called for a new model of partnership between the continent and the United States—one that prioritizes private investment over traditional aid.
“It is time to replace the logic of aid with the logic of ambition and private investment,” Lourenço declared in his keynote address.
He acknowledged Africa’s continued need for financial capital and technical expertise from the U.S., but emphasized that future deals must be based on “mutual benefit.”
This emphasis echoes a shifting sentiment among African delegations at the summit: a recognition that U.S. interest in the region—particularly in the form of humanitarian aid—is waning. In its place, African leaders are advocating for investment that aligns with both development goals and U.S. strategic priorities.
As a result, any new agreements forged during the summit are expected to focus heavily on sectors such as critical minerals, agri-food industries, and energy—areas where the U.S. has growing commercial and geopolitical interests.
More than 1,500 delegates, including African heads of state, U.S. government officials, and business leaders, have gathered in Luanda for the summit, which aims to deepen commercial ties between the two regions.
Reflecting the U.S. administration’s evolving stance, U.S. Africa Bureau Chief Troy Fitrell stated:
“It is business—not aid—that drives lasting growth,”
Fitrell posted in a video on X (formerly Twitter) on June 20, adding that he was attending the summit to “advance deals that benefit people across Africa and here in the United States.”
Fitrell is leading the U.S. delegation in Luanda, where he is also scheduled to tour the Lobito Corridor railway, a $4 billion infrastructure project supported during Donald Trump’s presidency. The railway is seen as a critical supply chain link, facilitating the transport of valuable minerals from Central Africa to the U.S.
On the sidelines of the summit, U.S. and Angolan officials—along with the U.S. International Development Finance Corporation—are negotiating a new $500 million investment to expand the railway, according to Bloomberg.
The shift away from aid toward trade aligns with Trump-era policies that saw significant cuts to foreign assistance. According to Think Global Health, the Trump administration slashed 83% of USAID’s humanitarian aid programs in sub-Saharan Africa, which once provided $6.5 billion in support.
As Lourenço and other leaders push for an era of economic cooperation built on equal footing, the summit may mark a turning point in how the U.S. engages with Africa—less as a donor, and more as a strategic business partner.
