Todd Moss quoted in a Bloomberg story about Africa.
From the article:
A year after urging U.S. companies to deepen their involvement in an African economic renaissance, President Barack Obama doesn’t have much to show for the effort.
U.S. companies still lag behind European and Chinese enterprises on a continent that is home to six of the world’s 10 fastest-growing economies. Apart from oil companies such asChevron Corp. (CVX) and retailers such as Wal-Mart Stores Inc. (WMT) and YUM! Brands Inc. (YUM), U.S. businesses have been reluctant to brave African security risks and trade headaches.
The government’s Overseas Private Investment Corp., which provides financing and political risk insurance for U.S. companies’ foreign ventures, is ill-positioned for multiyear projects since it depends upon annual congressional appropriations, unlike British, Dutch or Chinese financing agencies, says Todd Moss, who directs the Emerging Africa Project for the Center for Global Development in Washington.
Read it here.
