(Exclusive) Spotlight On Africa: How African American Entrepreneurs Can Engage (Part 2)

Whitaker also says she has been saddened to witness the demise of so many African American residential construction companies in America, while the housing construction market in Africa is booming and looking for partners.

It may also be prudent to get black millennials locked into the idea of profiting off the opportunities available in Africa because of the over-saturated U.S. market. Getting U.S. black youths interested in forming relationships with young Africans early in life could be key to facilitating stronger bonds between both parties and strengthening financial ties.

White House Senior Adviser Valerie Jarrett agrees. “The theme of the summit was investing in the next generation. What the president is doing right now is laying the foundation for tremendous progress in the months and years ahead. I also want to note our young leaders initiative. The president and first lady spoke last week to 500 young African leaders who’ve been here for six weeks participating in a program at our colleges and universities across the country including HBCU’s on learning about leadership and economics.”

Verheijen believes African Americans should get a little more hands-on. He says, “Just move down there and take a job and try to stick with it for a year or two just to survey the landscape. And then quickly establish their own firms. I have African-American friends who have done that and are prospering. They usually provide a much-needed consulting or advisory service. Some even set up manufacturing entities locally. We don’t have the large companies here that spur innovation or help to train people.”

“Imagine if our business expansion plans included African markets?” Whitaker asks.  “Especially during a time when African leaders are eager for African American firms to come. Infrastructure spending in Africa is increasing faster than any where else in the world. African Americans infrastructure firms are competitive. We know how to build.  Franchises, especially auto dealerships in Africa are booming and this is another area where African American firms have strength.”