Will the US-Africa Summit boost For Continental Trade & Development? 

As part of activities to strengthen the Africa United States relationship, African Leaders on the invitation of the United States government travelled to Washington DC for the first US-Africa Summit in eight years.

The main themes of the summit focused on all  aspects of Africa’s inclusive growth.

Addressing African leaders at the summit, the US President, Joe Biden and National Security Adviser Jake Sullivan said the US would commit $55 billion to promote development in Africa.

They said much Work would be dedicated to infrastructure in Niger and Benin with a sum of $500 million while US$350 million  is moved  towards boosting the digital economy.

According to them the Biden Administration plans to work with Congress alongside the Young African Leaders Initiative YALI to provide over $100 million.  The Administration is committed to working closely with Congress to for low and middle-income countries   and lend up to $21 billion through the International Monetary Fund to support African resilience and recovery efforts

 Joe Biden noted that the agreement establishing the African Continental Free Trade would help create a continent-wide market for the estimated 1.3 billion people and wealth of  $3.4 trillion

Besides that The International Development Finance Corporation (DFC) announced $369 million in new investments to help promote food security, help in renewable energy infrastructure and Health projects, Biden hopes to strengthen security efforts in the continent through the 21st Century Partnership for African Security with about $100 million to bolster African security efforts

He also promised to commit over $15 billion in two-way trade and investment commitments, deals, and partnerships announced in the Africa Business Forum to prioritize sustainable energy, Health systems, digital connectivity and finance.


Report by Timbuktu Institute- African Center for Peace Studies