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Hilbroy Advisory: U.S. Seeks Greater Economic Role in Africa
Hilbroy Advisory: U.S. Seeks Greater Economic Role in Africa
The U.S. remains the top donor to Africa, disbursing $7.6 billion in 2009, according to the Organization for Economic Cooperation and Development.
Montreal,
Quebec,
Canada
(prbd.net)
10/06/2011
Montreal, Quebec, June 9th, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: U.S. officials and business leaders have gathered here for a bout of soul-searching on how to lift trade and investment in Africa, underlining a broad recognition that American companies are trailing those from China and India in tapping the continent's economic opportunities.
The meeting in Zambia has drawn one of the largest U.S. delegations to Africa in years. It includes U.S. Trade Representative Ron Kirk and U.S. Secretary of State Hillary Clinton, who arrives in the capital Lusaka on Friday. She is the first U.S. secretary of state to visit Zambia in 30 years.
The focus of the meeting is the African Growth and Opportunities Act, or Agoa, an 11-year-old piece of U.S. legislation that provides preferential access to the American market for more than 1,800 African products. It covers 37 countries in sub-Saharan Africa, with a handful of others disqualified because of coups and corruption.
Many participants say the U.S. needs a new approach to a continent that is projected to grow faster than any other global region over the next five years. They say trade assistance, along with humanitarian aid, together isn’t enough to tap a market with a billion potential consumers.
The U.S. remains the top donor to Africa, disbursing $7.6 billion in 2009, according to the Organization for Economic Cooperation and Development.
China isn't a member of the OECD, and doesn't provide detailed breakdowns of aid and investment to Africa. But in 2009, China became Africa's largest trade partner. In the first 11 months of last year, China's trade with Africa amounted to $114.81 billion, according to the Chinese government's White Paper on the topic. U.S. trade with Africa for the period reached $103 billion.
China has tied much of its trade and investment to Africa with preferential loan deals, often aimed at securing supplies of oil, gas and minerals. Top-ranking Chinese officials regularly visit African countries to cement these agreements.
That type of trade relationship is seen as too narrow to seize new opportunities linked to Africa's accelerating economic growth and new consumers.
The International Monetary Fund predicts sub-Saharan Africa a collection of 47 countries will grow 5.5% this year and 6% in 2012. Over the next five years, the IMF predicts that average growth of sub-Saharan countries will be higher than other regions. The African Development Bank Group estimates a new consumer class on the continent of 300 million people.
Yet the continent remains burdened by political corruption and poor infrastructure problems that ratchet up the price of goods, particularly in many landlocked countries. Most African countries rank at the bottom of the World Bank's Ease of Doing Business survey.
Companies from China, India and Brazil generally have been less daunted by such challenges. Bharti Airtel Ltd., India's largest phone company, now operates in 16 African countries, part of a dramatic expansion of Indian investment in Africa. This month, Bharti Airtel said it signed a deal with China's Huawei Technologies Co. to help manage and modernize its network in Africa.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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