Young African entrepreneurs stand to gain more from enhanced business partnerships between the United States and Africa according to money transfer firm Dahabshiil's CEO Abdirashid Duale.
Speaking after the just concluded US-Africa business forum in New York,
Duale whose company operates in the US and in Africa says the opening of opportunities for African investors in the US has helped turn around the lives of many.
"Through remittances from Africans living in the United States, those back home have been able to set up small businesses and hence earn a living," he said.
"Dahabshiil is a living testimony of how the US-Africa business partnerships have helped improve the quality of life in Africa."
In his remarks during the close of the forum on Wednesday, US President Barack Obama said he has noted through his visits to Africa that Africans do not just want aid, they want trade.
"They want partners, not patrons. They want to do business and grow businesses, and create value and companies that will last and that will help to build a great future for the continent," Obama said.
"Our Global Entrepreneurship Summits in Morocco and Kenya and our Young African Leaders Initiative are giving nearly 300,000 talented, striving young Africans the tools and networks to become the entrepreneurs and business leaders of the future."
Early this year, Dahabshiil partnered with the US Embassy in Kampala in an initiative to help identify youth talent and spur innovation in Uganda for jobs creation.
"We in Dahabshiil believe in the power of
entrepreneurship to dramatically change the socioeconomic landscape in
Africa. Youth entrepreneurs, in particular are key drivers of innovation
and future economic growth and we are happy the US through their
business partnership are creating these opportunities and we will
continue working with them in future for the good of Africa."
Dahabshiil has also sponsored a startup competition and hackathon in Nairobi.
The US Africa Business forum was organised by former New York City mayor Mike Bloomberg through his Bloomberg Foundation.
