In 2024, the United States government further solidified the U.S.-Africa partnership through global trade and investment. Through several standout trade and investment achievements, each closed deal and direct investment on the African continent highlights how a strategic U.S.-Africa link drives meaningful economic impact. From job creation and business partnerships to sector-specific market expansion and supply-chain diversification, Prosper Africa and USAID’s influence fueled mutually beneficial growth for U.S. and African businesses and consumers over the last year — laying a solid foundation for unprecedented progress and financial success.
A LANDMARK INFRASTRUCTURE DEAL SIGNALS NEW OPPORTUNITIES FOR U.S. INVESTORS
Prosper Africa and USAID Kenya East Africa (KEA) partnered with MiDA Advisors LLC, an expert in blended finance solutions, to assist Acorn Holdings Limited—Kenya’s leading student accommodation developer— with successfully securing $180 million in loan commitments from the U.S. International Development Finance Corporation (DFC) for one of Africa’s largest student housing projects. With the DFC commitment in hand, Acorn is now able to mobilize an additional $380 million in private capital from Stanbic Bank Kenya, part of the Standard Bank Group. Over the 18-year lifespan of the transaction, this blended finance model is expected to crowd in an additional $315 million from Kenyan pension funds and asset managers — bringing the total capital raised to a staggering total of $700 million.
Acorn’s success signals an opportunity for U.S. investors to diversify their portfolios and gain stable returns through high-demand infrastructure investments in one of the world’s fastest-growing markets. The partnership also demonstrates how U.S. development finance can mobilize private capital, catalyze economic growth, and create a virtuous cycle of investment and prosperity. By supporting Africa’s leading infrastructure projects, U.S. investors can not only achieve financial gains but also contribute to impactful social and economic advancements. The Acorn public-private partnership will result in over 35 affordable housing units, deliver 48,000 beds for students, and create over 50,000 jobs.
THE AFRICA PAVILION ELEVATES THE CONTINENT AS A UNIFIED SOURCING DESTINATION
Prosper Africa and USAID prepared for two high-priority trade fairs in the U.S. with two goals in mind: diversify U.S. supply chains and showcase some of Africa’s most innovative products. Using February’s Sourcing at MAGIC in Las Vegas as a platform, Prosper Africa and USAID launched their Africa Pavilion concept, a unified continental showcase that promotes African businesses under one brand and connects export-ready firms with global buyers. Ensuring that U.S. buyers were introduced to new African product lines, alternative supply-chain opportunities, and modern textile and apparel items developed on-continent, Prosper Africa and USAID enabled African firms to close deals worth more than $28.3 million, with $12.7 million in potential deals still under development.
Prosper Africa and USAID later debuted the same Africa Pavilion concept at the 2024 Summer Fancy Food Show (SFF) in New York City in June. With more than 100 unique African firms exhibiting their products at SFF, on-continent suppliers met with large U.S. retailers including Whole Foods, Erewhon Market, Wegmans, Central Market, HEB, and World Market — demonstrating a reliable food-product alternative that U.S. retailers could use to create new lanes of revenue, expand market opportunities, and increase sales. With over 800 business leads facilitated at the show, African fine foods companies secured over $63.4 million in closed trade deals and a pipeline of $9.2 million in potential deals still under development.
HOW AN ONLINE PLATFORM BECAME A MAJOR FORCE IN LINKING AFRICAN BUSINESSES WITH GLOBAL MARKETS
The African Trade Platform (ATP) is an industry-leading marketplace that connects buyers and sellers of bulk commodities across Africa, the United States, and the world. Originally conceived as a digital hub supporting intra-African and international trade, ATP quickly became an essential marketplace for U.S. and African buyers, sellers, and trade financiers. With support from Prosper Africa and USAID, ATP enhanced its functionality to cater to the growing demands of bulk commodity trading across Africa, the United States, and beyond.
ATP’s journey has been marked by continuous innovation. Foxfin initially enhanced the ATP platform to offer additional AGOA advisory services to help African suppliers best utilize opportunities presented under AGOA. Foxfin also incorporated aggregation services as part of its in-house buyer-supplier business development services. Including these two sets of services helped increase user engagement and drove more than 300 buyers and sellers to the platform. The subsequent launch of Deal Room Africa, ATP’s platform extension connecting export-focused businesses with investors from Africa and the United States, proved to be a game-changer. With the addition of this Deal Room into the overall ATP platform structure, ATP enabled rapid transactions that resulted in over $240 million in closed deals and trade finance investments. This growth was fueled not only by better digital infrastructure but also by ATP’s ability to offer payment solutions to simplify financial processes.
Most importantly, ATP allows U.S. partners to not only browse and buy products from verified and vetted African suppliers, but to also quickly access products in high-demand sectors including agriculture, mining, textiles, and packaged goods. Today, ATP stands as a model for digital trade facilitation, bridging geographical barriers, enhancing transparency, and fostering economic collaboration between both African and U.S. markets.
A LOOK INTO THE CLEAN TECH ENERGY NETWORK (CTEN)’S PUSH TOWARD REVOLUTIONIZING AFRICA’S ENERGY SECTOR
U.S. cleantech innovation is integral to bringing power to the nearly 600 million people across the continent who currently lack access to electricity. The Clean Tech Energy Network (CTEN), co-funded by Power Africa, USAID, and Prosper Africa, is doing just this — connecting over 100 U.S. and African firms with tailored cleantech opportunities in different African markets this past year while spurring U.S. clean energy exports. As the network continues to expand, CTEN aims to facilitate an increase in U.S. clean energy exports to Africa and close at least $350 million worth of cleantech energy deals by 2026.
Capitalizing on sector momentum in Africa, CTEN’s market intelligence work led 34 private sector companies to over 20 active trade leads in 2024. Since most tenders on the continent are for constructing solar power plants with battery energy storage systems, several U.S. companies requested assistance in finding local partners to form a consortium and submit official bids. In response, the CTEN team provided contacts of local firms in partner countries, including Zambia, Côte d’Ivoire, Togo, and Kenya. The network subsequently made several introductions between private companies and local investors or organizations — initiating revolutionary energy deals between leading U.S. partners and innovative African firms. Moving forward, CTEN will continue to expand its core service offerings, providing market information, transaction facilitation, advisory services, event management, and matchmaking to U.S. companies interested in African energy markets.
LOOKING FORWARD
Prosper Africa and USAID continue to serve as catalysts for a strategic U.S.-Africa trade and investment partnership, one where both U.S. and African businesses are empowered to scale. Whether through diversifying supply chains, introducing American investors to untapped opportunities, or ensuring African businesses grow alongside trusted U.S. partners, Prosper Africa and USAID’s efforts advance lasting economic resilience, innovation, and shared prosperity.