Prosper Africa aligns with the Trump administration’s Africa strategy, introduced by National Security Adviser John Bolton last December. It aims to promote prosperity, security, and stability in US-Africa relations, and confirms the administration’s prioritization of trade and investment to reach those three objectives.
This strategy might be “one of the most business-friendly US-Africa policies in recent times—at least in principle.”
During a visit to Togo this week, Phil Bryant, Governor of the State of Mississippi, announced that Togo will be one of the pioneers of the future program.
According to Bryant “Prosper Africa” aims to modernize and synchronize the capabilities and efforts of the US government by providing a “one-stop shop” for trade and investment with the African continent.
With the existing African Growth and Opportunity Act (AGOA) due to expire in 2025, the new initiative will allow the US government and businesses to craft longer term strategies that will invigorate US-Africa trade and investment.
Defying a global downward trend, foreign direct investment (FDI) flows to Africa rose by 11% to $46 billion in 2018, fueled by a demand for commodities as well as non-resource seeking investments.