Business opportunities open in Africa. Will Black Americans seize the moment?

By Nigel Roberts

Africa has been stereotyped as poor and politically unstable for decades, but countries like China and Russia continue to make headway into many of its 54 nations. But more recently, America is finally beginning to see more opportunities open up for business ventures across the continent.

The Biden administration announced in July that those efforts have borne fruit, including the approval of US$9 million in small business loans to support American companies doing business with African countries. But that also means there is a new chance for Black American business to create ties with the Motherland.

Business opportunities for Black American entrepreneurs

The continent is bursting with business opportunities for Black Americans looking to invest and build businesses, according to Faye Tillery, a Georgia entrepreneur who owns and operates multiple companies in Kenya, including construction and coffee enterprises.

“We don’t have much experience on the continent of owning our birthright and our legacy there. We don’t know much about it because that history was stripped away from us. But this is a way that we can still invest and reap some of the benefits,” she said.

Tillery is not alone in calling for inclusiveness. The U.S. Chamber of Commerce launched the Advance with Africa initiative, through its U.S.-Africa Business Center (USAfBC), to disseminate information in the American business community about the ripeness of African markets for partnerships and expansion.