December 16, 2022: In his remarks during the U.S.-Africa Leaders Summit, U.S. President Joseph R. Biden emphasized that the United States is committed to supporting every aspect of Africa’s inclusive growth and creating the best possible environment for sustained commercial engagement between African and American companies: “The United States is all in on Africa’s future.”
The White House announced key deliverables to reaffirm the United States’ commitment to deepen and expand our partnership with African countries. Working closely with the U.S. Congress, the Biden-Harris Administration plans to invest at least $55 billion in Africa over the next three years in economic, health, and security support. New investments and policy initiatives include:
- Establishment of a Special Presidential Representative for U.S.-Africa Leaders Summit Implementation. The Biden administration is establishing a senior position to ensure the strengthened partnerships with Africa will continue. The Department of State has appointed Ambassador Johnnie Carson to this role.
- Memorandum of Understanding with the new ACFTA Secretariat. The President announced that the United States will sign an historic memorandum of understanding with the new African Continental Free Trade Area Secretariat to unlock new opportunities for trade and investment between African countries and the United States. It will represent one of the largest free trade areas in the world, 1.3 billion people, and a continent-wide market totaling $3.4 trillion.
- A G20 Seat for the AU. The President announced his support for the African Union joining the G20 group of large economies as a permanent member. “Africa belongs to the table in every room – in every room – where global challenges are being discussed, and in every institution where discussions are taking place.”
- Active commitments across Africa totaling more than $11 billion.S. International Development Finance Corporation (DFC) announced active commitments across Africa totaling more than $11 billion, including $369 million of new active commitments to support projects in healthcare, renewable energy, entrepreneurship, and agriculture.
- Expansion of the Young African Leaders Initiative (YALI). Vice President Harris announced that the Biden administration plans to work with Congress to provide $100 million toward YALI to support innovative, diverse young African women and men to excel in a 21st century economy and catalyze transformational change in their communities, countries, and continent.
- Launch of a new Digital Transformation with Africa (DTA) Initiative. DTA will expand digital access and literacy and strengthen digital enabling environments across the continent. Working with Congress, this initiative intends to invest over $350 million and facilitate over $450 million in financing for Africa in line with the African Union’s Digital Transformation Strategy and the U.S. Strategy Toward Sub-Saharan Africa.
- Renewed Support for the African Women’s Entrepreneurship Program (AWEP). Vice President Kamala Harris announced plans to provide $1 million for the African Women’s Entrepreneurship Program. The program will provide small grants to train women entrepreneurs and support women-owned businesses in sub-Saharan Africa.