Introduction by British A. Robinson, Prosper Africa Coordinator
Leaders from across the African continent gathered in Washington, D.C. from December 13-15, 2022, for the U.S.-Africa Leaders Summit to strengthen the strategic and economic partnership between the United States and countries throughout Africa. Held on the second day of the Summit, the U.S.-Africa Business Forum (USABF) focused on advancing two-way trade and investment partnerships that bolster Africa’s role in the global economy, scaling innovation and entrepreneurship, and driving advancements in key sectors.
The U.S.-Africa Business Forum in December 2022 was a transformational event, marking a significant step forward for trade and investment partnerships that underscore Africa’s vital role in the global economy.
One year later, following President Biden’s direction for the U.S. Government to be “all in” on Africa, I am heartened by the remarkable progress achieved. Since the Business Forum, we have facilitated the close of 547 deals, representing a total estimated value of $14.2 billion in two-way trade and investment between the United States and African countries. This represents over 60 percent increase from closed deals in 2022. These achievements, some of which are showcased in this booklet as part of commitments at the Summit, are a testament to the fruitful collaboration between 17 U.S. Government agencies and our world class private sector partners.
The global investment community is increasingly recognizing Africa’s extraordinary market potential and dynamism. The continent is home to the world’s youngest population, an asset that creates significant opportunities for viable business deals that create jobs and foster shared prosperity.
To harness the potential of pioneering deals in growth sectors and regions, we have mobilized the U.S. Government’s convening power, expertise, and financing – tools that have been instrumental in enhancing the viability of deals. Over the last year, we prioritized developing an actionable deal pipeline focused on five key areas: trade and investment, climate and energy, digital transformation, health care, and agriculture. This represents a whole-of-government effort to build meaningful partnerships to accelerate growth in these key sectors.
These partnerships include leading U.S. and African companies and investors, and transactions that harness American technology, innovation and capital to deliver impactful and inclusive solutions that are tailored to the local market. This Deal Book provides a snapshot of these partnerships and deals, many have made an immediate impact but also laid the groundwork for market transformation, blended finance transaction structures, and new business models.
As you look through this selection of groundbreaking deals and deal spotlights, let them serve as a source of inspiration for pursuing forward-thinking investments that enhance shared prosperity between the African continent and the United States.
FACT SHEET: Accelerating the U.S. – Africa Partnership After the 2022 U.S.-Africa Leaders Summit
