US-Africa Trade Hits Record $14.2B in 2023 – White House

Nearly 550 new trade and investment agreements were signed,representing a 67% increase over 2022 in terms of number and value,said British Robinson,coordinator of the US-led Prosper Africa trade initiative.

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“We’ve had a record year for U.S.-Africa relations,” said Judd Devermont,White House official in charge of sub-Saharan Africa,during an online press conference organized a year after a summit with African leaders at which U.S. President Joe Biden pledged to “pull out all the stops” on the continent.

In December,Washington pledged to invest $55 billion over three years in Africa. This strategy is aimed in particular at countering the growing presence of China,which has made inroads in infrastructure construction,investments and loans.

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The United States has already achieved over 40% of these commitments,Mr. Devermont pointed out. “By the end of the second year,we expect to exceed at least 70% of our targets,” he added.