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Published October 21, 2021
USAID’s new, continent-wide Africa Trade and Investment (ATI) program will advance Prosper Africa, a U.S. Government initiative to increase two-way trade and investment between African nations and the United States. It will also advance USAID development goals across the continent, working hand in hand with the private sector. The program will complement the U.S. Government’s trade and investment tools through customized services – from business consulting and transaction facilitation to targeted policy interventions. With nearly half a billion dollars in funding over five years, this new contract will increase and expand geographically USAID regional and country-specific programs supporting trade and investment in North and sub-Saharan Africa.
The new program will provide a unified, coordinated trade and investment platform for Africa that builds on USAID’s 20+ years of experience implementing the Trade and Investment Hubs, which have been integral to actualizing the African Growth and Opportunity Act (AGOA).The USAID Hubs have increased U.S. - Africa trade and intraregional trade, reduced transit times at border crossings and critical ports, and helped sub-Saharan African countries more effectively compete in African and global markets. For every $1 of USG funding, the USAID Trade Hubs have mobilized $9 of private investment.
PRIVATE-SECTOR DRIVEN
The new continent-wide Africa trade and investment program will provide services tailored to country requirements to help African countries “Build Back Better” from the COVID-caused recession and increase U.S. investment and trade with the continent. With regional satellite offices serving North and sub-Saharan Africa, the contract will be able to deploy expertise to where there is a need, supporting
U.S. and African investors and companies to increase dealmaking. Prosper Africa will use ATI services to support U.S. Embassy Deal Teams in identifying potential deals, providing due diligence and advisory services, and connecting entrepreneurs with the appropriate USG agency. Through the development of new financial approaches, products, and structures, particularly those with the potential to engage U.S. firms and investors, and by increasing access to finance for African businesses and entrepreneurs, the Africa trade and investment program will energize U.S.-Africa trade and investment and support African countries in recovering from the COVID-19 pandemic. Continue reading...
Source: USAID News and Information
