Author: Aubrey Hruby
Affiliation: Atlantic Council
Organization/Publisher: Atlantic Council
Date/Place: March 2020/USA
Type of Literature: Report
Number of Pages: 13
Keywords: United States Prosper Africa, China, African-Market, Investment.
Brief:
The United States has been trying hard to compete with China and other global powers in the African markets, but it lacks a good strategy. In 2013, the Obama administration launched the goal of doubling the electricity access in Sub-Saharan Africa by the year 2030. This was an investment plan in one sector, but today the initiative boasts more than 140 private sector partners. “Prosper Africa,” launched in 2018 under the Trump administration, promised to be transformational by doubling the trade between the US and the Continent. This report offers recommendations for the US to leverage its influence in Africa. It suggests that while the US formulates and executes its Africa policy, it should focus on promoting sectors where US companies are already taking a lead, such as financial services, specialized oil, gas services, and technology and entertainment. The US government needs to significantly increase its outreach efforts to connect US businesses with commercial opportunities in Africa, finding credible interlocutors and creating champions. Prosper Africa should convene a group of industry ambassadors to act as validators and mobilize their networks. Roadshows can help in showcasing competitive companies, and the US Media and entertainment sector can be helpful too. Speed of action is important as China is moving quickly into new sectors such as media and venture capital. The recommendations mentioned can help the US in meeting the goal of doubling its trade and investment with Africa.
By: Saima Rashid, CIGA Research Assistant
