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USA: An initiative to boost trade and investment in Africa

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The United States Agency for International Development (USAID) is announcing the "Prosper Africa" program, an initiative aimed at significantly increasing trade and investment between Africa and the United States.

At a cost of 500 million dollars, or 277 billion CFA francs, the initiative Prosper Africa will be launched in early 2021 on the continent for a duration of 5 years.

"It is not just a new program; "It is a new way of doing business that will stimulate US investment in Africa's growth, jobs and business climate, leveraging private sector resources and innovation," the US agency said.

According to the details, the initiative will mobilize all U.S. government support services for trade and investment to help American and African companies, investors with opportunities and seal partnerships.

The program will initially set up a "one-stop shop" to facilitate commercial transactions between African and American companies.

In addition, the initiative will help identify and remove political, regulatory and logistical barriers to private sector operations in order to create a favorable environment for trade between the United States and Africa.

"With Prosper Africa, the U.S.-Africa relationship is evolving from an aid-based approach to a true partnership in trade and investment - based on dignity, equality, mutual respect and profitability," says USAID.

Olivia Yao

Publié le 19/11/20 18:12

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