Vice President Nangolo Mbumba says the discovery of oil and other strategic resources in Namibia have opened up investments and value chains.

Mbumba addressed the Invest in Namibia session on the margins of the US-Africa Summit underway in Tlokweng, Botswana.

The US Biden administration has committed to renewing the African Growth and Opportunity Act (AGOA) as calls for equal trade between Africa and the US deepen.

nbc's Blanche Goreses shares more from the US-Africa summit.

Over the years, Africa has positioned itself to move away from aid and grant dependence to being a business hub and a significant player in the global economy.

Over the years, Africa has positioned itself to move away from aid and grant dependence and become a business hub and a significant player in the global economy.

However, the continent accounts for only about 2% of the global economy, and this is what the US-Africa Summit is seeking to address.