Afreximbank and Prosper Africa have signed a new agreement to strengthen trade and investment ties between the United States and Africa, focusing on industries critical to economic growth and innovation.
The partnership, announced by Afreximbank on January 17, aims to capitalize on the unique strengths of both organizations. Key sectors targeted include creative industries, strategic minerals, emerging technologies, and textile manufacturing.
.@ProsperAfricaUS and Afreximbank have signed a strategic partnership to unlock trade and investment between the U.S. and Africa, boosting capital access, SME growth, creative industries, #AGOA utilization, and job creation.
— African Export-Import Bank - Afreximbank (@afreximbank) January 17, 2025
-----
Prosper Africa et Afreximbank annoncent un… pic.twitter.com/c4NRYxftOq
The collaboration will prioritize enhanced access to financing, technical support for innovative projects, and support for small and medium-sized enterprises (SMEs) in areas such as agro-industry and textiles. Efforts will also focus on fostering the creative economy through Afreximbank’s Creative Africa Nexus initiative. A dedicated monitoring team will oversee the progress of these commitments.
Kanayo Awani, Executive Vice President of Afreximbank, emphasized the far-reaching impact of the partnership. “This collaboration will not only enhance market access for African businesses but also foster investments, create jobs, drive innovation within the creative economy, spur SME growth, among other benefits for a more prosperous and inclusive future for both regions”.
This initiative aligns with a broader shared vision to expand trade, develop skills, foster cultural exchange, and maximize opportunities under the African Growth and Opportunity Act (AGOA). Prosper Africa, launched in 2018, is at the forefront of strengthening economic ties between the U.S. and Africa. In 2023, the initiative, alongside U.S. agencies, facilitated 547 trade and investment deals across Africa, totaling $14.2 billion, according to U.S. government figures.
Trade between the United States and Africa reached nearly $69 billion in 2023, according to data from the International Trade Center (ITC).
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
5G penetration in Sub-Saharan Africa stands at 1.2% despite $28 billion in operator investments over five years. High smartphone and data plan...
Mombasa's commuter train service resumed on September 17, 2025, after modernization. The expanded 16.6 km line connects Mombasa's main district and...
INP-HB and HABG signed an MoU to develop an Executive Master's in Compliance and Anti-Corruption. The program aims to train competent professionals in...
DBSA closed a 100 mln rand ($5.7 mln) financing for EV charging stations. Local firm Zero Carbon Charge will build 60 solar-powered stations by...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...