Prosper Africa is the U.S. Government initiative to increase two-way trade and investment between the United States and African countries. Through Prosper Africa, the U.S. Government works with the private sector and our African government partners to advance deals, promote market opportunities, and strengthen business and investment climates. In so doing, Prosper Africa creates jobs for both African and American workers and fosters shared prosperity.
USAID is proud to be among the 17 U.S. Government departments and agencies that make up the Prosper Africa initiative. Please visit prosperafrica.gov to connect with Prosper Africa advisors, browse the full suite of U.S. Government trade and investment services, and access the latest news, success stories, and results from our whole-of-government efforts.
OUR CONTINENT-WIDE PROGRAMMING
Launched in September 2021, the USAID Africa Trade and Investment Program is USAID’s flagship contribution to the Prosper Africa initiative. Through this continent-wide program, USAID is expanding investment and trade relations with partner countries in Africa and establishing a more level playing field. The program offers targeted support to U.S. Embassy Deal Teams, complementing the combined resources of Prosper Africa’s 17 participating agencies. The program can also be used to advance intraregional trade and promote investment across the continent, working in partnership with the private sector.
As USAID’s first continent-wide program, the USAID Africa Trade and Investment Program is an important tool in the Prosper Africa toolkit, catalyzing the full power of the U.S. Government’s resources to support the private sector and Africa’s economic development. This work will result in more resilient and self-reliant economies capable of meeting public needs through increased trade, investment, access to finance, and sustainable job creation. To explore partnership opportunities and join the partner network, please visit atiprogram.com.
OUR REGIONAL PROGRAMMING
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.
USAID’s Kenya Investment Mechanism is facilitating $520 million in investment for key sectors of Kenya’s economy, including agriculture, and for regional trade and investment opportunities under the Prosper Africa initiative. The program supports the mobilization of private investment and accelerates enterprise-driven development.
AFRICAN CONTINENTAL FREE TRADE AREA
We provide 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 marshaling 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 supporting 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 The Children’s Place.