African Business Guide

Africa’s vast potential in the global emerging market can no longer be ignored. With more than 12 percent of the World’s population, the 48 nations of Sub-Saharan Africa have a rapidly growing market of over 800 million consumers offering enormous commercial potential for U.S. business owners. The continent also offers investors enormous untapped raw materials and natural resources. According to the Department of Commerce, in 2000, the U.S. exported more to the sub-Saharan African countries than to all the states of the former Soviet Union combined, (Russia included). In 2001, foreign direct investment by the United States in Africa more than quadrupled to $3.8 billion. It is also noteworthy to point out that the sub-Saharan African countries supply 18% of American oil needs. source