The United States has finalized numerous agreements valued at $14.2 billion with African nations over the past year, according to government officials on Wednesday.
This surge in trade initiatives aims to counterbalance China’s escalating influence across the continent.
British Robinson, coordinator for the US administration’s Prosper Africa trade and business initiative, highlighted a remarkable 67 percent increase in the number and value of closed deals, totaling 547 new trade and investment agreements compared to the previous year.
“We have had a record-setting year for US-African relations,” added Judd Devermont, President Joe Biden’s top Africa advisor.
Devermont and Robinson addressed a virtual media briefing commemorating the first anniversary of a summit with African leaders, during which Biden pledged extensive engagement with the continent.
This announcement underlines Washington’s concerted efforts to deepen its involvement in Africa, strategically countering China’s growing presence.
Beijing has notably expanded its influence through infrastructure projects, investments, loans, and other strategic initiatives.
Devermont emphasized that the US has already fulfilled over 40 percent of its commitment made in December last year to invest $55 billion in Africa over three years.
“By the end of year two, we anticipate surpassing 70% of our goal, if not more,” he said.
