Our mistakes, to our weaknesses. And own up to our solutions and contributing to our solutions. So that we can even tell our story. You find we even depend on others to tell our story. So thats how destruction has come about. So i really think theres not much time to waste as time goes with africa, in terms of building this consensus, this working together, this owning up so that we cooperate and partner with others rather than being too dependent on them. So this is an opportunity we have to leverage this partnership and to address that particular problem. Thank you very much indeed. Firstly, i would like to agree with my brothers that lets take ebola as a disease that is affecting humanity. Rather than just to look at it as an african problem. Fortunately, i said earlier africa is organizing itself. Even the Health Organizations continentally are working together. Thats why were confident that this time around, we are working together to address this problem of ebola. But i must also say that its an unfortunate thing that africa is imported in an important way. At times out of perceptions. Even countries that are fighting corruption, the very fact that theyre fighting corruption is a story that theres more corruptions in those countries. Thats a problem you have. Africa is organized better. We discussed many of these issues together in the a. U. , in the manner that is far better than 20 years ago. We share everything together. We take common resolutions where we say let us deal with this challenge that faces us today. Earlier i mentioned for an example the infrastructure that we together agree theres no debate about it. Its a question of dealing with it. And then showing that africa operates better. There are things that are not important about the continent. There is an instrument for an example that we have. Peer review mechanisms. Nobody is talking about this globally. Its a unique instrument where countries in the continent subject themselves to their peers to review them, look at them. They first submit reports and it is discussed in the a. U. Forums, to criticize if there are things to criticize in the manner in which countries have been run. And there isnt such an instrument, its only found in africa. Should that be the problem of the continent . I think it is important for people to look at africa and see that africa is changing. Theres a good story thats coming out of the continent in terms of working together. In terms of understanding our problems. Instead of in the point of owning up to what in the past could have been mistakes. Today, i think we stand a better chance as the countries in the continent to better ourselves. We appreciate this opportunity because we are then in the position to tell our own story rather than people telling the story on us. Exactly. Yeah. Today i spoke i think at the National Press club. That was an event i was invited. One of the things i said is that the africa of today is not the africa of yesterday or the day before yesterday. Africa has changed. African economy, there is theyre performing better today. Six of the ten Fastest Growing economies are in africa. Between 2011 and 2015, the fastest economies are in africa. Why are we there . Because of pursuit of sound economic policies. Also the pursuit of sound political policies. There is democracy has taken root. Governance is is enshrined. There is stronger commitment now to fight vices in society. Corruption. Drug trafficking, drug abuse. Whatever. There is more respect for human rights. There are fewer conflicts on the continent today. That does not mean except of course there are a few hot spots. When you look today, what is happening, the conflict areas in africa they dont compare. So i said unfortunately, this is the good story which is not being told. So i was appealing to those journalists, please, tell the other story. But i was giving the same example, now its ebola. So the whole of the african continent is being perceived as if everywhere everybody is suffering from ebola. I dont think thats true. Thats not true. I dont think. I think theres some concern about no, no. Im not saying that but this is the perception, so if there is a problem so when is africa going to get out of this of being perceived if theres a problem. I said africa is a continent. There are 54 countries. They are different. In terms of particular situations. So until we get to the situation where africa would be seen in the 54 countries that exist, we wont get out of this. Okay, i have one final question. To the final question, we are out of time and over time, but you raised a question of security. I mean, there is some concern about security. We do read about highly publicized stores. Boko haram and 200 children. We know about sometimes the absence of respect for boundaries. What do any of you want to say about security in africa today as part of the message you want to convey to this audience here . Anyone. Africa is more secure today than many years ago. If i may mention the problem areas. You have somalia which used to have a huge conflict. Now the situation is much better. But al shabab has been eliminated so from time to time there are struggles. So from time to time, they ignite a bomb there. You have a problem in in the food, the situation is much more under control now than in the past. But you see the situation is much better now than what it was in the past. Which other conflict area . Anyone else . Were finished. We still have huge problems yeah. In africa, im sorry, we still have huge problems in central africa. We still have a huge problem in sudan you know, where people are starving. There was a terrible situation in sudan. We have a terrible situation also in the northern part of mali. Africa of course is much more secure than before, but we are still facing a challenge. An important challenge in the matter of security. We have to Work Together as africa. You know, this is what were trying to do about the problems of libya. You know, about all the countries around libya to secure this country together. We have to face the problems and we have to Work Together. We have to yes, we have this problem, but we are able to control it and were going to control it. Just to give this Business Community what it needs more, security and stability. Yes, go ahead. This will be the last thank you very much. Thank you. No, i wanted to say that we reached a stage in africa where almost you could count a few problematic areas. I think what has influenced particularly in Northern Africa has been the arab spring that affected the arab countries in the north. But what has become an important factor, we have discussed this as leaders. You have countries that have volunteered to establish an instrument an instrument which were working on, in two months time. By october, well be launching it. So that we have taken the principle of african problems and african solutions. We are now on the basis of that taken a decision that is not going to allow any in the continent. We are taking this upon ourselves. I think that is an important story that the world should know. Thank you. Thank you. On behalf of everyone, this audience, i appreciate your enthusiasm. But i especially appreciate the summit on africa that we hear from africans and African Leaders and you have given that to us and i thank each of you and the president im sure will convey the same sense of appreciation when he comes. But thank you again and thank each of you. As a big continent, it must be given better time to explain ourselves. Thank you. Cspans coverage begins with a debate. Its the first and possibly only debate between the candidates. After recent polling listed the race a solid democrat. You can watch it at 8 00 p. M. Eastern on cspan. Wednesday, more Campaign Coverage with the Louisiana Senate debate between mary lan droe and bill cassidy. Louisiana has an open prime while congress is in recess air this month, cspans primetime y system in which all candidates run for an office against each other with the majority winning the election. If a candidate fails to get 50 of a vote, a runoff will take place. Can you watch wednesdays debate live at 8 00 p. M. Eastern on cspan. You can also post your comments on facebook and twitter. Right after that, a main Senate Debate twen Susan Collins and a democrat. That starts at 9 00 p. M. Eastern, also on cspan. The 2015 cspan student cam video competition is underway. Open to all middle and High School Students to create a ato 7 minute documentary on the theme the three branches and you, showing how a policy, law, or action by the executive, Judicial Branch of the federal government affected you or your community. There are 200 kas prizes for students and teachers totaling 1,000. For a list of rules go, to student cam. Org. In august, treasury secretary jack lou spoke at this years u. S. Africa summit hosted by the Obama Administration. After his comments a panel of financial executives discussed Investment Opportunities in africa for about 50 minutes. Good morning. Its a pleasure to join my colleagues and welcoming everyone to washington, d. C. We have Business Leaders and entrepreneurs from across africa and the United States here. I want to thank all of you for joining us to day. I also want to thank all the people at bloomberg and the Commerce Department who made todays forum possible. Right now africa is undergoing a swift and dramatic trance formation. Africa is the second growing, Fastest Growing region in the world and home to six of the ten Fastest Growing economies. This growth reflects the hard work africans have done to lay a Solid Economic Foundation that supports investment. The potential for ties offer tremendous opportunities for the people of our two continents. Before talking more about investment in after kashgs let me say a few words about the u. S. Economy. Recent data dmot straight that the growing strength of the economy is continuing. We saw strong gdp growth and our kple is 6. 6 larger than when the recession began in 2007. Our private sector created nearly 10 million new jobs over the past 53 months. Were now in a six month stretch with at least 200,000 new jobs each month. The first time that this has happened since 1997 chlt they had done 4 million. If they are charging 200, 250 a case. That is a lot of money to go out we produce more oil at home than we import and were now the worlds leading producer of petroleum and natural gas. With the Affordable Care act in place, Health Care Costs have risen at the lowest rate in nearly 50 years. And our budget deficit has been cut by more than half. Private Sector Economists expect this trend to continue with strong growth and second half of the year and through the end of 2015. Nonetheless, despite the substantial progress, millions of americans continue to struggle. Unemployment is still too high and far too many families this does not feel like a recovery. The president put forward a number of initiatives that would accelerate growth, propel job creation and expand opportunity. These include common sense ideas like building our infrastructure for the long term and raising the minimum wage. And the treasury department, were helping to meet the president s goal of strengthening working families whether help foster broad based pros xpart and keep taking steps so our economy it kin making strides. For example, treasury is working with the department of housing and urban development. All told, thanks to the decisions that this administration has made in the determination and resilience of americas workers and businesses. The United States has recovered faster than most any other advanced economy in the world. And thats why according to the imf, the United States is a primary driver of global growth. And this is good news beyond our borders, especially in africa, because expanding Global Economy provides opportunities for African Companies and it gives investors arent world confidence to look at new markets including africa. Of course, with a young, dynamic population and a virgining private sector, africa is a invite will amarket for foreign investors. Thats why were here today. We want to drive more u. S. Investment in after kashgs increase trade between africa and the United States and spur job creation both here and in africa. In a few moments, youll hear from a panel of experts about different approaches we can take to deepen the Financial Services sector, improve Investor Confidence and unlock access to Capital Markets. The fact is to expand growth and attract greater investment, they need to develop more open, secure, and competitive Capital Markets that can provide access to financialing for governments businesses and families. Because of strong macroeconomic fundmental, African Companies are expanding access to international Capital Markets. They attracted 50 billion in capital inflows and to retain and build on the success, africa needs to pursue further economic and governance reforms while building a more welcoming and predictable investment climate. As president obama said, governments more open and transparent, respect Citizen Rights and abide by the rule of law grow faster and draw more investments than those who dont. The challenge is head to to build transparent markets in financial sectors. As everyone here knows, financing is critical to building africas infrastructure to fueling the next wave of entrepreneurs and to improving the standard of living for families across the continent. The point is open Capital Markets are vital to channeling savings and investment and provide safe opportunities for african investme in. Ts in africa. We must also bear in mind the need to protect our Financial System from terrorists, money launderers, corrupt officials and other criminals. We look forward to continued and growing cooperation in this important work to promote both economic and National Security. Im pleased that African DevelopmentBank President is with us for this session. The United States is working closely with the African Development bank to attract private investment as part of president obamas Power Africa Initiative which will bring reliable electronic to 20 million homes and businesses. To meet this goal, we need strong Capital Markets that attract long term investors. In closing, let me say that United States and our partners want our relationship with africa to be defined by our shared economy interests. To play a part in africas success, we must invest in roads, bridges and power lines. We must provide training and support for young entrepreneurs. And we must improve access to capital for Small Businesses and manufacturers. By strengthening our economic ties with africa, we can fuel growth, alleviate poverty, and foster stability. And now i want to turn the session over to the president for what i know will be a valuable discussion. Thank you all very much. Ladies and gentlemen, please welcome to the stage, chairman as Holdings Limited mr. Tony o. Olimali. President and chief executive officer mastercard. Chief executive officer and managing director equity bank group. Founder and chairman foundation and founder. Joint chief executive Standard Bank, mr. Sim chabalala. Cofounder and cochief executive officer mr. David rubenstein. And our moderator, president , African Development bank, dr. Donald kabarukah. Good morning. I want to thank secretary of state for the kind words and for welcoming us here. We have the easiest subject which is finance. Of course. I do have good panel of men here. And today well just talk about what does it take to get more financial flows into the african continent . Pension funds todays ago here saying money is not the issue. The issue is what invest the money. And this morning everyone says africa is the place to be. So i wouldnt to begin with you. I recall meeting you in my office when you are lunching in africa. You and i had a conversation. You said to me, look, begin with south africa and nigeria. Then i say how has it gone for you . Well, first i want to thank you for your support. I was in your office, you know, i was starting to raise our fund. It was not easy to convince people to give money to a firm like ours to invest in africa. We didnt have a real track record there. When you try to raise a country fund or continent fund, people outside the continent say if youre so good, how come nobody in the continent will give you money . You always want to get money initially from people there and the African Development bank. My industry is called private equity. It is the Fastest Growing service. It went from 3 billion under management to 3. 5 trillion. Even today of all the money invested in