The U.S. Government program, Prosper Africa, which aims to increase bilateral trade and investment between the US and African countries, has announced plans to invest $170 million to increase both U.S. Investment and exports from Africa.
This information was shared in the Deal Room of the US-Africa Business Forum. The initiative’s plan calls for boosting African infrastructure and exports; as well as encouraging private investment to speed up African innovation.
According to a statement, Prosper Africa has made a number of commitments that will increase African exports to the United States by $1 billion over the course of the following five years.
The initiative claims that since 2019, the U.S. Government has assisted in the closing of 1,100 deals worth approximately $65 billion across 49 African nations.