African businesses and American investors are natural partners. Africa offers incredible growth, innovation, and opportunity; the U.S. offers the largest capital markets in the world and a commitment to the highest standards of quality and transparency.
With some of the world’s fastest growing countries, the African continent will have 100 cities with more than one million inhabitants by 2025. This urbanization boom will drive investment and unlock new opportunities for U.S. businesses, from construction and transportation to smart city infrastructure and innovations in agriculture. A greater connection between the U.S. and African private sectors will expand shared economic opportunities and contribute to more prosperous, self-reliant, and stable African countries.
The U.S. Government’s Prosper Africa Initiative
Prosper Africa is helping U.S. investors and African businesses maximize these opportunities. Prosper Africa is the U.S. government initiative to substantially increase two-way trade and investment between the United States and Africa. For the first time, the initiative brings together the full range of U.S. government resources to help U.S. and African businesses and investors identify partners, advance opportunities, and close deals. By leveraging the power of the private sector, Prosper Africa demonstrates the superior value proposition of transparent markets and private enterprise for driving shared growth and prosperity.
What Prosper Africa Offers
Prosper Africa makes it easier than ever before for businesses and investors to access a new and improved suite of U.S. government services and resources – including matchmaking, financing, insurance, and advisory services. Prosper Africa teams in Washington, DC and at U.S. embassies across Africa are standing by, and working together, to help advance new business opportunities with a new whole-of-government support package.
The Prosper Africa Toolkit is available on the new Prosper Africa digital resource center at prosperafrica.dfc.gov. This website is a one-stop shop for learning about and accessing all of the U.S. government’s trade and investment services and resources – so companies can easily find the right tool to meet their business needs.
Prosper Africa’s Impact
Since June 2019, Prosper Africa has directly supported more than 280 deals to close across more than 30 African countries for a total value of over $22 billion. Below are snapshots of just a few of them:
Stitching Cordaid Expands Credit Access Across West Africa. Stitching Cordaid is using a $14.75 million loan portfolio guaranty for the U.S. International Development Finance Corporation (DFC), combined with first-loss capital from the USAID West Africa Trade and Investment Hub, to support small and medium sized companies and microfinance institutions in West Africa. The financing will help to create economic opportunity and build more prosperous communities in Burkina Faso, Sierra Leone, Guinea, and Mali.
U.S. Tech Company Raises $3.6 Million. Field Intelligence, a Nigeria-based healthcare technology company, completed a $3.6 million investment round thanks to transaction advisory support from the U.S. government. Field Intelligence uses software to help pharmacies forecast, manage, and finance drug orders. This investment will fund the scale up of Shelf Life, a technology-enabled supply chain finance platform that helps pharmacies manage their inventory and stock high-quality medicines their customers need.
U.S. Invests in Financial Market Stability Across Africa. The DFC is providing an up to $250 million capital loan to the Africa Finance Corporation (AFC). This financing will allow AFC to continue serving new and existing borrowers across the continent as a low-cost source of financing in the wake of COVID-19. With DFC’s support, AFC will prioritize investments in energy, telecommunications, transportation, and other critical infrastructure.
Investing in Africa’s Future Conference
On October 16, 2020, the DFC and the Atlantic Council will jointly host a high-level conference to promote U.S. investment in African markets. The virtual conference, “Investing in Africa’s Future”, will convene African heads of state, major international investors, and U.S. government trade and investment officials to discuss how U.S. investors can help finance the next big boom for Africa through the DFC and Prosper Africa. By harnessing the power of U.S. and African private sectors, we advance our mutual prosperity and security, fuel economic growth and job creation, and demonstrate the superior value proposition of transparent markets and private enterprise for driving growth.
Learn more about “Investing in Africa’s Future” virtual conference here.
Learn more about Prosper Africa here.
Learn more about the U.S. International Development Finance Corporation here.