U.S.-Africa trade, investment rise to $63.5 billion

New data has shown that since the start of the Biden-Harris Administration in January 2021, the United States Government, through the Prosper Africa Initiative, has closed 1,695 deals valued at $63.5 billion in 41 African countries.

The data represents deals from 17 U.S. Government agencies working throughout Africa.

In the calendar year 2021, at the start of the Biden-Harris Administration, the U.S. Government facilitated 262 deals valued at $3.1 billion.

In the last six months of 2024, the United States Government facilitated 401 deals valued at $32.5 billion, indicating a significant increase in economic engagement between the U.S. and African countries, fostering economic growth and partnership across the continent.

Special Assistant to President Biden and Assistant for African Affairs at the National Security Council, Frances Brown, in a statement said that under Biden’s leadership, they ensure that engagement with Africa is not only about numbers but about sustainable, inclusive growth.

“This increase in closed trade and investment deals over the past four years signifies we are all-in on our Africa dedication to long-term and lasting partnerships that support shared prosperity.

Coordinator, Prosper Africa, British Robinson, stated, “This growth is a testament to the robust partnerships we have cultivated across Africa. The data reflects the ongoing America commitment to catalytic trade and investment partnerships that mutually benefit the United States and African economies.

“Our work opens doors for both American and African businesses to advance sustainable trade and economic development across the continent.”