Determined to boost trade and investment, Prosper Africa has partnered African Export-Import Bank (Afreximbank) to strengthen trade between the United States and Africa in key sectors.
Through this partnership, Prosper Africa and Afreximbank seek to advance several shared priority objectives, including scaling trade and utilisation of the African Growth and Opportunity Act (AGOA), creating and upskilling jobs, increasing access to capital, and promoting cultural exchange and collaboration across the U.S. and Africa.
This Memorandum of Understanding (MoU) offers several key areas of collaboration in capital access facilitation, technical and transaction advisory support for creative deals.
The partnership will also provide opportunities for SME development in agribusiness, textiles, Creative Africa Nexus, and strategic event collaboration.
This strategic partnership aims to leverage the unique strengths of both organisations to mobilize trade opportunities and investment capital, with a focus on creative industries, critical minerals, emerging technologies, and textile manufacturing.
British A. Robinson, Prosper Africa Coordinator, said achieving this level of economic growth and impact on people’s lives is not a mission that the U.S. Government can do alone hence needs to partner with African institutions like Afreximbank to achieve these goals.
According to him, this collaboration marks a significant step towards strengthening economic ties between the United States and Africa, along with the Diaspora, and both organisations look forward to working together to drive growth, create jobs, and promote shared prosperity across the continent and in the United States.
Kanayo Awani, executive vice president of Intra-Africa Trade and Export Development at Afreximbank, said the partnership with Prosper Africa marks a significant milestone in strengthening economic ties between the United States and Africa.
Awani said that by leveraging the combined strengths and expertise of both firms, they will unlock new opportunities for trade, investment, and sustainable economic growth across the continent.
“This collaboration will not only enhance market access for African businesses but also foster investments, create jobs, drive innovation within the creative economy, and spur SME growth, among other benefits for a more prosperous and inclusive future for both regions,” she said.
An Implementation Team will be established to ensure satisfactory execution of the terms of the MOU and to review progress periodically.
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