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Washington, D.C. – House Foreign Affairs Committee Lead Republican Michael McCaul (R-TX) and Congresswoman Stephanie Murphy (D-FL) introduced the Prosper Africa Act to codify interagency efforts and promote, facilitate and increase two-way trade and investment between the United States and Africa.
“Advancing two-way trade and investment between the U.S. and African partners must be a key foreign policy priority,” said Rep. McCaul. “The establishment of the Prosper Africa Initiative in 2019 was an important step, but much more is needed to ensure the U.S. is showing up, competing for these business opportunities, and providing an alternative to China’s Belt in Road. I am proud to lead legislation to bolster this important initiative and further sharpen U.S. efforts.”
“Increasing trade and direct investment between the United States and key African nations is an important way to protect U.S. national security by countering and out-competing authoritarian countries making inroads in Africa,” said Rep. Murphy. “It is also a key way to promote the prosperity of allies and partners on the continent, to open new opportunities for American businesses, and to improve quality of life for American families.”
- Codifies Prosper Africa, an existing interagency initiative to promote, facilitate and increase two-way trade and investment between the United States and Africa
- Advances U.S. commercial diplomacy efforts and support for businesses seeking to invest on the continent, compete for business opportunities and provide an alternative to China’s Belt in Road investments.
- Catalyzes U.S. and African private sector investment to create jobs both in the U.S. and in Africa, promoting economic growth and putting the continent on a path from aid to trade
- Requires a biennial United States-African Leaders Summit to convene heads of state to discuss shared diplomatic, economic and security partnerships; and
- Requires a whole-of-government strategy, implementation plan, and robust monitoring and evaluation of ongoing activities to ensure the initiative is advancing its objectives.
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