Emphasizing his commitment to developing international trade opportunities with sub-Saharan Africa, state Sen. Curren D. Price Jr. (D-Culver City) will co-host the African Diaspora Marketplace Road Show next week.
An informational forum at the Wallis Annenberg Building in Exposition Park, it is intended to educate interested parties about a business plan competition and financial support available for businesses seeking to develop innovative enterprises on the African continent.
The all-day forum one week from today, Tuesday, Dec. 6, will be from 9:30 to 5.
“I developed an interest in international trade, particularly enhancing trade and commerce with Africa, when I worked with the Small Business Administration,” explained Sen.Price. “I embraced the idea that American businesses could help themselves while helping to spur growth, opportunity and freedom in the rest of the world. Many African regions are rising to the challenges of the 21st century. They are in the process of helping to transform Africa into a global hub for progress and prosperity.
“All around the continent, a new Africa is taking shape. It is increasingly open to free markets. Africa accounts for nearly two percent of global trade. If sub-Saharan Africa were to increase that share by one percent, it would generate additional export revenue each year greater than the total amount of annual assistance that Africa currently receives.”
Last year, the African Diaspora Marketplace the awarded more than a dozen matching grants of $100,000 to winning business entries in seven countries
The United States Agency for International Development (USAID) in partnership with the Western Union Company is sponsoring the second marketplace, which offers support to U.S.-based African diaspora entrepreneurs with ideas for start-up and established businesses in sub-Saharan Africa.
The second round will focus grants toward high-priority, high-impact sectors in Africa, including agribusiness, renewable energy and information and communication technology, according to the USAID.
Potential participants should RSVP to (victoria.rivera@sen.ca.gov)
