U.S. businessman Jerome Almon rallying African Americans to invest in Africa

Jerome Almon. PHOTO/BiztechAfrica

U.S. war veteran and businessman Jerome Almon, is in the process of launching a US$100 billion initiative to rally the support of African Americans to invest in Africa and in the process ride on the economic growth currently underway on the continent.

Almon, has launched an ambitious plan calling on African Americans to invest US$100 billion in Africa annually.

The campaign named “The Power of one Trillion”, the campaign will be centered around an online portal, www.thepowerof1trillion.com, and will move into full implementation at an invitation-only conference of African and African American scholars, business owners, and government officials. Several open events and the website will present the complete blueprint of the initiative.

According to Almon, apart from the fact that African Americans have their roots in Africa, economists estimate “the current African American gross domestic product (GDP) at US$2.25 trillion, growing to US$2.6 trillion by 2017”. He proposes that total African American investment in Africa can reach US$230 billion by 2017, with US$110 billion being directed grants.

With an initial focus on South Africa, Almon believes the plan can be expanded to create thousands of new African and African American millionaires, dozens of new billionaires, and elevate the poor to the middle class. Almon further states that he will forward an advance copy of the plan and White Paper to South African President Jacob Zuma, African Union Chairman and Ethiopian Prime Minister Hailemariam Desalegn, and African Union Commission Chairperson Nkosazana Dlamini-Zuma.

Read more: Ventures Africa