The United States has unveiled a new commercial diplomacy strategy for Sub-Saharan Africa, marking a significant shift from decades of assistance-led approaches to an investment-led paradigm.
According to Ambassador Fitrell, who led the initiative, the change aims to unlock economic growth and development by fostering partnerships between equals.
He said, “The strategy focuses on promoting American national interests, creating opportunities for US businesses, and advocating for market reforms”, he added, stressing that the approach has already yielded results, with 33 new deals worth over $6 billion in the first hundred days of the administration.”
A notable example, he went on, is the Lobito Corridor project. A major infrastructure initiative spanning Angola and the Democratic Republic of Congo, saying that the US aims to leverage its capital markets to attract private sector investment and multilateral participation in African projects.
Speaking also, Ambassador Davis Ba, who was part of the recent visit to Cote d’Ivoire, highlighted the signing of deals worth over $700 million, including projects in digital transformation and energy.
He said that the new strategy also emphasises reciprocity in trade relations, while mentioning the ongoing negotiations with African countries for better trading terms and potential free trade areas.
“The African Growth and Opportunity Act (AGOA) is expected to be revised, with a focus on mutual benefits and modernized terms.“
The US plans to host an African Leaders Summit later this year, aiming for inclusive participation from across the continent. The summit will focus on strengthening economic ties and promoting peace and stability”, Amb.Davis Ba, added.
In furtherance, he noted that the US is optimistic about Africa’s potential for economic growth and development, driven by formalised economies and robust private sector engagement.
“A new era in US-Africa relations is unfolding, with a commercial diplomacy strategy that prioritizes economic engagement, investment and trade. This approach focuses on mutual benefits and partnerships, aiming to foster sustainable growth and development across Africa”
