Africa has indeed turned the corner . A continent once synonymous with death , disease and destruction is showing signs of improvement . Virtually unscathed by the global financial slowdown , the African continent boasts some of the fastest growing economies in the world . Nigeria , Ghana and Tanzania are some of the countries leading the way in this exclusive economic growth club . With a combined population size of 1 billion , 70 % under the age of 30 and an annual spend of $ 600 billion , the African continent is an attractive business proposition for any investor . It comes as no surprise then that the U.S. is making huge strides to accommodate Africans . Hosting one of the largest gatherings of African Leaders in Washington , the U.S. is showing the world -- and sending a signal to its closest rival , China -- that it can and will have African influence , which it can convert into commercial opportunities that can translate to receipts . Chinese dominance . The acceleration of China across Africa has been breathtaking . A long standing business relationship with the continent has translated to huge trade volumes in excess of $ 200 billion in 2013 , doubling what the U.S. achieved in that same year . Read this : Twitter reacts to U.S.-African Leaders Summit . Taking the world by surprise , a liberalized African continent voted with its feet changing suppliers -- re-affirming China 's dominance , with the U.S. fast closing the gap ; the Washington conference is confirmation of President Obama 's new ambition in making up lost ground . Challenges . Security challenges facing the African continent are huge . Africa is by no means a picnic . The U.S. government will have to put security at the top of it agenda as American businesses expand operation across the African continent . Instability in Libya , Central African Republic and extremist Islamic groups can be a constant threat . Doing business in Africa will have its hazards ; the business environment can be harsh and unforgiving . Yet , despite these challenges , exceptional growth figures in Nigeria prove that despite repeated and sustained attacks by militant group Boko Haram , Nigeria is still considered a thriving hub for businesses worldwide . This week the presidents of Liberia and Sierra Leone canceled their planned trip to the summit amid the spread of Ebola virus . Good and affordable health care is a major concern for many Africans . As the Ebola virus spreads across West Africa , many Africans are relying on the U.S. to support failing and fragile health care structures in the areas of financing , technology and science as a bridge to halting the spread of this deadly virus . Bright future . Today , the African continent boasts the second fastest growing region in the world , an average growth rate of 5 % and a large youthful work force . Job creation is still Africa 's biggest challenge -- there are too many people living in poverty earning less than a dollar a day . If President Obama can create real tangible jobs , then the U.S. can start to claw back China 's grip on the African continent -- whoever builds Africa 's infrastructure , provide cheap products for African markets and loans to support government initiatives will have influence over African affairs . If the U.S. pushes for better African governance , enforcement will be difficult . The usual carrot and stick approach will not be effective . If the U.S calls for trade opportunities to be linked to better , open and transparent democracies then it will be possible for U.S. businesses to make the commercial advances on the African continent . African leaders are very savvy and have a healthy understanding of geopolitics . They will leverage on multiple investors competing for African influence . African governments , unilaterally or as a block , will not hesitate to change suppliers and investors . The Chinese business model is seen by many Africans as hassle free . The Chinese relationship with African governments is one of mutual respect , not intrusive and with a minimal involvement in domestic politics . The Chinese model is still an attractive proposition for many African leaders . Hence , President Obama will have to tread carefully and not rock the African boat too hard . To his critics , President Obama has been accused of neglecting the African continent . But by hosting this African Leaders Summit , the U.S. President is starting to rediscover Africa . And with commitments of $ 33 billion in private and public assistance , President Obama is already winning the hearts and minds of a billion Africans . Read this : Twitter reacts to U.S.-African Leaders Summit . More from African Voices .
Sierra Leone has confirmed U.S. ambition to make up lost ground in the continent . It comes after a decade of breathtaking African acceleration across Africa . The continent holds big promise but unemployment , security and health scares are still challenges . Job creation is key for the U.S. to claw back U.S. 's grip on the Chinese continent .