The Pan-African Business Forum on Sunday voiced its expectation that more support for Africa's renaissance would come from the US government led by President Barack Obama.

Speaking at a press conference in Accra, Prince Prosper Agbesi, president of the forum, lauded the immense contribution of the African Growth and Opportunity Act and the Millennium Challenge Accounts (MCA) initiated by former US president Bill Clinton and George Bush, to the growth of the African continent.

"We hope, indeed expect that President Obama, himself of African extraction, will commit to designing and driving an even more impactful development assistance program through which America can even propel Africa's economic renaissance," said Agbesi.

Agbesi believed that a lot more needed to be done since the MCA, which had aimed to put together about $2.4 billion for the global compact, ended up with only $1.5 billion.

The forum, which also congratulated President Jacob Zuma of South Africa for being re-elected as leader of the African National Congress (ANC) for the 2014 presidential elections, believed that the only way African renaissance could happen was to combine the forces of the three presidents, Zuma of South Africa, John Dramani Mahama of Ghana and Obama of the United States.

Agbesi commended Ghana for qualifying for the second compact of the MCA project, noting that the climate for doing business in Ghana was improving fast.

"There is something good happening in Ghana. Good reforms happening here and business can only be effective if the environment is conducive," he added.

As Africa has so many resources, the forum president believed that the dependence on donor support should be minimized so that future generations would not have to be burdened with debt.

The forum is a conglomeration of like-minded statesmen, entrepreneurs and professionals from all over Africa who share the vision of using international public-private partnership between African states and foreign development partners and private investors, on a pan-continent level.