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Obama: U.S. companies to invest $14B in Africa

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WASHINGTON — The Obama administration today announced $14 billion in commitments from U.S. businesses to invest in Africa, as representatives from nearly 100 American and African companies gathered in Washington to discuss ways to boost economic partnerships.

“Africa has now developed into a global economic force so our relationship must evolve and mature,” said Michael Bloomberg, the former New York City mayor and a billionaire businessman.

Indeed, Africa’s economy is enjoying rapid advancement. The continent is home to six of…

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