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USAID Launches 'Africa Trade Desk' to boost African food exports to the U.S.

Thursday, 28 March 2024 17:05
USAID Launches 'Africa Trade Desk' to boost African food exports to the U.S.

(Ecofin Agency) - In 2023, agricultural exports from Africa to the United States reached a significant milestone, totaling $2.6 billion. This figure underscores Washington's ongoing efforts to deepen its cooperation with African nations. Against this backdrop, a new initiative aims to increase the flow of African food products to the U.S. market.

On Wednesday, March 27, 2024, the United States Agency for International Development (USAID) rolled out a new commercial platform designed to connect African food producers with major American food retailers. Named the "Africa Trade Desk," this initiative is set to facilitate at least $300 million in food exports from Africa to the U.S. market within the next 18 months.

The initiative will be implemented through a public-private partnership between Prosper Africa, a U.S. government initiative for African entrepreneurs, and Afritex Ventures, an American agribusiness distribution company. The focus will be on a variety of products, including seafood, peppers, stone fruits, citrus, herbs, and high-value vegetables.

USAID explained, "This initiative aggregates products from African suppliers, secures firm orders from its established network of U.S. buyers, and accesses financial resources to fund large orders." The agency stressed that the goal is to guide African suppliers and equip them with the tools they need to succeed in the American market.

It's worth noting that African agricultural exports to the U.S. market hit $2.6 billion in 2023. With the "Africa Trade Desk" initiative now in motion, USAID anticipates that the project could account for more than 10% of this total, marking a substantial increase in Africa's agricultural export capacity to the United States.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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