Prosper Africa

  • USAID plays a leading role in advancing Prosper Africa, the U.S. Government initiative to substantially increase two-way trade and investment between Africa and the United States.

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Africa Rising
Africa Rising
Sseko Designs, Uganda: An AGOA Success Story
Sseko Designs, Uganda: An AGOA Success Story
AGOA Madagascar Livelihoods
AGOA Madagascar Livelihoods

A WHOLE-OF-GOVERNMENT APPROACH

The Prosper Africa initiative brings together services and resources from across the U.S. Government to empower businesses with market insights, deal support, and solutions to strengthen business climates. Prosper Africa creates jobs, drives growth, and fosters shared prosperity. Businesses and investors can access the full Prosper Africa toolkit on the Prosper Africa website here. Prosper Africa offers toolkits for investing in Africa, exporting to Africa, exporting to the U.S., attracting U.S. investment, and  investing in the U.S.

HOW USAID ADVANCES PROSPER AFRICA

USAID is one of 17 participating Prosper Africa agencies. Since June 2019, the U.S. Government has helped to close more than 800 deals across 30 African countries for a total value of over $22 billion. Credit: USAID
USAID is one of 17 participating Prosper Africa agencies. Since June 2019, the U.S. Government has helped to close more than 800 deals across 30 African countries for a total value of over $22 billion.
USAID
 
Since June 2019, USAID has supported African and U.S. businesses and investors in closing more than $2.8 billion in new exports and investments, and built a deal pipeline of more than $10 billion. 
USAID programs across the continent improve business environments, facilitate access to new markets and investment, and provide U.S. and African businesses with a wide range of services, including matchmaking, due diligence, and support meeting international quality standards and certification requirements. 
 

Through Prosper Africa, USAID is committed to fostering a two-way trade and investment partnership with Africa - based on dignity, equality, and mutual respect.

 

 

Global Mamas Prosper Africa photo
Global Mamas is a Ghana-based social enterprise that works with women across Africa to create and sell unique, handcrafted products. USAID’s West Africa Trade & Investment Hub co-investment with Global Mamas will leverage $2 million of private funding to support the company’s drive for sustainable growth post-pandemic. Global Mamas forecasts its domestic sales to recover and then increase to $300,000, and its export sales to reach nearly $1.6 million, primarily to the United States.
USAID West Africa Trade and Investment Hub

TO LAUNCH IN 2021: NEW USAID AFRICA TRADE AND INVESTMENT PROGRAM

USAID is launching a new, continent-wide Prosper Africa trade and investment program that will offer a wide range of customized services from investment and transaction facilitation to targeted policy interventions. With up to $500 million over five years, pending the availability of funds, it is expected to create thousands of African and American jobs and deliver billions in exports and investments by 2026. 

SUB-REGIONAL USAID TRADE AND INVESTMENT PROGRAMS

USAID’s West Africa Trade and Investment Hub co-invests with private sector partners with the potential to make a positive impact on the economy and leverage significant private investment. These businesses receive technical assistance before, during, and after their partnerships with the Trade Hub to ensure they can scale up and contribute to larger economic transformation in West Africa. The Trade Hub also supports research and development initiatives in Nigeria to introduce new ideas and technological advancements in the agriculture sector.
 
USAID’s Southern Africa Trade and Investment Hub leverages the power of South Africa as the driver of economic growth in the region. It increases exports from countries in the southern African region to South Africa and to the United States under AGOA, facilitating virtual trade shows and business-to-business meetings. 
 
Across East Africa, USAID programs are supporting efforts to expand investment in infrastructure. For example, through the USAID Kenya Investment Mechanism, the Kenya Pension Fund Investment Consortium will invest in infrastructure projects alongside U.S. investors - expanding access to infrastructure for Kenyans, improving returns for pensioners, and reducing Kenya’s reliance on Chinese debt. 

 

Prosper Africa Kenya Pension Funds Investment Consortium KEPFIC photo
With USAID Prosper Africa support, the Kenya Pension Funds Investment Consortium (KEPFIC) has announced it will mobilize more than $229 million for alternative asset investments such as long-term infrastructure projects and private equity by 2026. In time, this will help unlock billions of dollars in infrastructure development in Kenya and support collaboration between Kenyan and American pension funds.
USAID

 

AFRICAN CONTINENTAL FREE TRADE AREA

USAID provides support to the African Union to operationalize the African Continental Free Trade Area, which went into effect January 1, 2021. The agreement has the potential to boost growth, reduce poverty, and broaden economic inclusion across sub-Saharan Africa. The agreement is slated to increase the incomes of nearly 68 million Africans who live on less than $5.50 a day and increase Africa’s exports by $560 billion. The United States supports AfCFTA’s objectives to lower barriers to trade and investment, expand competitiveness, attract investment, diversify trade, and increase the sale of high-value products. Through its long history of trade capacity building and marshalling U.S. private sector investment in Africa, and the nearly 20 years of trade preference benefits under the African Growth and Opportunity Act (AGOA), USAID plays a critical role in helping achieve many of the AfCFTA’s objectives.

 

AFRICAN GROWTH AND OPPORTUNITY ACT 

The African Growth and Opportunity Act (AGOA) is a U.S. unilateral trade preference program that allows eligible countries in sub-Saharan Africa to export to the United States up to 6,900 products duty free, increasing trade and investments between the United States and sub-Saharan Africa. Since going into effect, AGOA has encouraged new investments, trade, and job creation in the United States and Africa. It serves as a critical market entry point for U.S. businesses, buyers, and service providers into Africa’s markets. AGOA-eligible countries are encouraged to develop National AGOA Response Strategies  to help local companies take better advantage of AGOA provisions for duty-free exports to the United States. 
 
USAID assistance makes it easier for African businesses to take advantage of this program. From textiles, to footwear, to cosmetics, USAID has provided technical support to African companies  now selling their goods to U.S. stores and companies like Burt's Bees, Target, Anthropologie, and Child's Play.
 
Amb Sullivan Burt's Bees Photo
In partnership with Burt's Bees, U.S. Ambassador Sullivan inaugurates a USAID-supported shea butter processing facility and warehouse in Ghana.
USAID

Last updated: August 10, 2021

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