Obama Push for Africa Spurned by U.S. Companies Over Risks
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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 as Chevron Corp. and retailers such as Wal-Mart Stores Inc. and YUM! Brands Inc., U.S. businesses have been reluctant to brave African security risks and trade headaches.